Source: PanDen
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Guanghua Weiye(光华伟业), a leading Chinese manufacturer of consumer-grade 3D printing
materials, under the brand name eSun(易生), achieved a
revenue of 243 million CNY in the first half of 2024, with a net profit of
18.17 million CNY, according to reports from Panda3dp.com on September 5, 2024. Listed on NEEQ under code 836514, Guanghua
Weiye's financial results indicate a 9.79% increase in revenue, up from 221
million CNY during the same period last year. However, net profit declined by
49.50%, falling from 35.98 million CNY in the prior year. While the company has
continued to expand its business scale, it is currently undergoing channel
reforms. On the one hand, revenue from high-margin polylactic acid fiber
products has dropped year-on-year, contributing to the profit decline. On the
other hand, factors such as rising shipping costs and brand promotion expenses
have also impacted profitability. Fortunately, some of these factors have
already diminished, and the company's future outlook remains promising. Panda3dp.com further noted that Guanghua
Weiye's revenue from 3D printing products reached 204 million CNY in the first
half of 2024, marking a robust growth. However, the gross profit margin slipped
to 34.63%, representing a 3% decrease. Domestic sales accounted for
approximately 50.44 million CNY, but the gross profit margin improved by 7.46%.
Meanwhile, overseas revenue stood at 192 million CNY, though the gross profit
margin declined by 3.68%. 1. Revenue increased by 9.79% year-on-year
during the reporting period, with 3D printing products continuing to
demonstrate robust growth, contributing 204 million CNY to the total,
reflecting a 42.74% increase in revenue year-on-year. Environmentally friendly
biodegradable materials, however, saw a 46.93% decrease in revenue, largely due
to a significant decline in polylactic acid fiber business. Meanwhile, chemical
product trade revenue dropped by 71.68% as the company strategically scaled
back its trading operations. 2. Operating costs rose by 10.43%
year-on-year, primarily driven by a substantial increase in last-mile delivery
costs due to an expansion in e-commerce sales. 3. Overseas sales increased by 16.35%
year-on-year, driven by the company's efforts to optimize its sales channels,
expand its e-commerce platform, and successfully develop overseas customers,
thereby sustaining growth in foreign sales revenue. △ Hubei Xiaogan eSun, specializing in the
production, research, and sales of environmentally friendly biomaterials and 3D
printing consumables, generated 128 million CNY, serving as a key revenue
contributor for the company. Guanghua Weiye's Business Model: The company operates in the "C2659
Chemical Raw Material and Chemical Product Manufacturing Industry - Synthetic
Material Manufacturing - Other Synthetic Material Manufacturing" category,
serving as a producer, operator, and service provider of environmentally
friendly biomaterials. The company's product portfolio includes 3D printing
products and environmentally friendly biodegradable materials. The primary 3D
printing products consist of non-metallic fused filament, with photopolymer
resin as a secondary product. The fused filament is mainly composed of
polylactic acid and petroleum-based polymers, blended and co-polymerized with
other materials before being processed into 3D printing materials. The
environmentally friendly biodegradable materials primarily include polylactic
acid fibers and non-woven fabrics, lactate esters, modified polylactic acid,
polycaprolactone, polylactic acid-coated paper, and biodegradable products. In addition, the company's trading business
includes products such as phosphate series, benzene series, citric acid series,
lactic acid series, alcohols, and more. The company adheres to a market-oriented
production model, predominantly based on production-to-order with supplementary
inventory. Production plans are determined based on orders and raw material
availability, ensuring efficient utilization of resources and effective
production organization. The production department, guided by sales forecasts
and actual inventory levels, engages in necessary preemptive production of core
products to maintain reasonable inventory levels. During production, each
production line strictly adheres to the company's operational procedures,
safety management regulations, and quality control standards to ensure the
production process meets quality control benchmarks. The company's sales model is primarily
direct-to-consumer, with supplementary distribution channels. The direct sales
model includes both offline and e-commerce platform sales, covering major
domestic regions as well as key international markets. The company promotes its
products and brand through industry exhibitions, direct outreach to potential
customers, and online advertising. Given the company's strong standing in the
3D printing industry and its expertise in producing various environmentally
friendly biodegradable materials, many clients approach the company for
potential business partnerships, spurred by the positive impact of national
plastic restriction policies on the downstream market for eco-friendly
materials. The company has established a nationwide
sales network, with a concentration in North China, East China, South China,
and Central China. To better serve domestic and international customers, the
company began opening sales channels on platforms such as Tmall and Amazon in
the second half of 2017, creating a seamless online and offline sales model
that facilitates timely product sales and customer satisfaction. To further
expand sales, the company has continued to improve product quality while
promoting its products and brand through exhibitions and advertising, resulting
in favorable outcomes. The company's primary revenue stream comes
from product sales, with a strong focus on its core business. |