Broken! This US Company Purchases 40% Of The Golden Hair Technology 6 Billion 900 Million Mask.

The golden hair Polytron Technologies Inc (hereinafter referred to as "golden hair technology") issued a notice in May 22nd after that, after the company's subsidiary signed a contract for the sale of goods with a company in the United States, the company sold the KN95 mask to the buyer and ordered an amount of US $975 million. The purchase order agreed that the buyer should pay the seller's order within 3 working days from the date of receipt of the seller's proforma invoice. 40% of the previous amount.

However, today's golden hair technology received a letter from the buyer. Due to the capital collection and the large payment process, the buyer will pay a slight delay in the payment of 40% of the initial amount of the order. The company has replied to its application for delay payment and requested it to complete the payment as soon as possible.

Earlier, the blonde technology announced in the evening of May 17th that the company's subsidiary Guangdong golden hair technology Limited (Guangdong blonde Technology) signed a contract for the sale of goods with a company in the United States (referred to as the "buyer"). During the time of sale of goods, Guangdong golden hair technology sold the KN95 mask to the buyer according to the contract for the sale of goods and the buyer's specific purchase order, and May 16th ( Beijing time, Guangdong blonde technology received buyer's purchase order, the order amount of $975 million.

At that time, blonde technology indicated that the total net profit generated by the successful sale of goods contracts accounted for more than 50% of the company's net profit in 2019 (1 billion 245 million).

Huatai Securities Liu Xi introduced, according to Alibaba's quotation information, KN95 masks about 5.5-6 yuan / only, according to rough calculations, the delivery rate of the blonde technology contract is about one billion levels, and the golden hair technology expects that the net profit of the order will account for more than 50% of the net profit in 2019 (1 billion 245 million yuan), corresponding to net profit of more than 623 million yuan, corresponding to the lower limit of net interest rate of about 9%.

Northeast Securities researchers believe that as a leading Asian plastic leader, blonde technology has the leading plastics production equipment, experience and technology in the industry, which is very conducive to the production of epidemic prevention materials. This rapid response to market changes and successful development of epidemic prevention material solutions has laid the foundation for obtaining large orders, and the successful acquisition of orders also shows the strong foundation of blonde manufacturing, especially in particular. In terms of supply chain management and product quality, the biggest advantage of short term large orders in thickening profits is the ample cash flow of companies and the ease of asset liability ratio.

Public information shows that the golden hair technology was established in 1993 and was IPO at the Shanghai Stock Exchange in 2004, and has maintained rapid growth for many years. The traditional business of the company is modified plastics, which has developed rapidly from the capacity of about 20 thousand tons at the time of listing, to the current nearly 2 million tons of plastic modified production capacity, and has become a rare white horse enterprise in the domestic chemical industry listed companies. The company's revenue in 2004 was 2 billion 390 million yuan, and its net profit was 105 million yuan. Over the years, the company's revenue scale continued to grow, reaching 25 billion 320 million yuan in 2018 (2004-2018 compound annual growth rate of 18.4%). The net profit of the company was greatly affected by the fluctuation of the industry boom. In 2011, the net profit reached the highest of 955 million yuan. In 2018, the net profit of the company was 624 million yuan (2004-2018 compound growth 13.6%). The company has maintained a high dividend level over the years, and has achieved a total dividend of 3 billion 301 million yuan after the listing.

Financial reports show that in 2019, blonde technology achieved 29 billion 286 million yuan in business revenue, an increase of 15.68% over the same period last year, and realized a net profit of 1 billion 245 million yuan attributable to shareholders of listed companies, an increase of 99.43% over the previous year. The net profit attributable to shareholders of listed companies was 1 billion 19 million yuan after deducting non recurring gains and losses. In 2020, the quarterly business income reached 5 billion 540 million yuan, down 6.15% from the same period last year. The net profit of shareholders of the company was 142 million yuan, down 36.91% from the same period last year.

According to the analysis of the industry, according to a quarterly report released by the golden technology, due to the serious impact of the epidemic on the downstream normal production demand, and the short-term impact of the international oil price on the operation of the petrochemical business, the company's performance in the first quarter has seen a big decline, but this is affected by the specific factors, and the business of the main business of modified plastics and other new materials business is booming. The upward trend has not changed. With the improvement of domestic demand, the profitability of the PDH project will be gradually restored after the upstream raw materials remain low.