On the evening of April 28th, Yuxing (300305) released its 2023 annual report. During the reporting period, the company achieved operating income of 16.Jupiterclubnodepositbonus8.6 billion yuan, realizing a net profit of 8.7058 million yuan belonging to shareholders of listed companies.

Yuxing Co., Ltd. is a high-tech enterprise specializing in functional polyester film manufacturing, mainly engaged in special functional polyester film research and development, production and sales, is one of the largest special functional polyester film production enterprises in China. The special functional polyester film products produced by the company are widely used in new energy, electronic communications, electrical insulation and other industrial fields.

In recent years,JupiterclubnodepositbonusWith the rapid development of polyester film industry in China, the production capacity, quantity and quality of products have been improved rapidly, and the R & D capability of functional polyester film has gradually realized the localization of technology. At present, the production capacity of the polyester film industry continues to grow, the market demand of some industries in the lower reaches is declining in stages, the competition in the polyester film industry is becoming increasingly fierce, the supply exceeds demand in stages, and the overall profitability of the industry is declining. However, in terms of the product structure of polyester film, there is a structural contradiction that there is overcapacity of low value-added products, the proportion of high value-added products is low, and some high-performance polyester film varieties still rely on imports.

In 2023, the company maintains its position at the top of the industry by virtue of its core competitive advantages in technology, products, quality and management. It is worth noting that the annual report shows that the company's production and sales of polyester films for electron optics in 2023 were 19600 tons and 15600 tons respectively, achieving revenue of 180 million yuan, an increase of 13.35 percent over the same period last year.

The annual report shows that during the reporting period, the company set up a holding subsidiary to speed up the promotion of downstream precision coating business, functional protective film and functional composite film have formed mass sales. Upstream, the company invested in the production of high-performance polyester film and supporting projects, the introduction of functional polyester synthesis section, in order to achieve independent production of special polyester raw materials and improve product quality and innovation ability. The company modifies the front-end raw materials, improves the pre-coating and stretching process in the middle, enhances the functional coating at the back end, creates the core technology of the interval industrial chain, gives full play to the advantages of the interval industrial chain, and meets the performance requirements of functional polyester films in different application fields. increase the company's competitive advantage.

In addition, during the reporting period, the company's annual output of 60,000 tons of high-end functional polyester film production line project was put into production in the first half of the year; the import production line of the high-end functional polyester film project with an annual output of 500 million square meters was put into production in the second half of the year; high-performance polyester film production and supporting projects to promote civil construction according to the planned schedule. The orderly release of the production capacity of the new production line will help the company to adjust the variety structure, expand the business scale, meet the order needs of downstream customers, and enhance the market development ability.