With the development and changes of the valve market and the industry at the end of the Tenth Five Year Plan, the number of valve shares and private enterprises has increased, the production level of valves has improved, and the output of valves has increased significantly. The market complete set rate, complete set level and complete set capacity of valves have been greatly improved. At present, according to the current situation of the valve market, the demand for petrochemical valves during the "Eleventh Five Year Plan" is predicted as follows:
During the valve period, the high-temperature valve for ethylene cracking gas in the petrochemical field is a necessary valve for the outlet pipeline of the cracking furnace of the 800000t ethylene plant. The valve enterprise should consider developing the valve for cracking gas in view of this situation. In addition, there is a large demand for large diameter high-pressure ball valves, large diameter oil pipeline ball valves, and cryogenic valves for LNG. It is estimated that the total demand of the whole general equipment valve industry during the "11th Five Year Plan" period will be 34.5 billion yuan. In addition, according to the demand of China's national economic development, the key point of valve development is the development of new valve products supporting the construction of major projects such as thermal power, nuclear power, hydropower, large-scale petrochemical, oil and gas gathering and transmission pipelines, coal liquefaction and metallurgy. While developing the above new products, attention should be paid to the promotion and application of new technology, such as the application of new vacuum electron beam welding technology and shear extrusion technology when forging and welding structures are used in the development of high-temperature and high-pressure power plants and nuclear power plant valves; Develop large diameter integral ball valves for long-distance pipelines and apply integral welding technology.
The total capital stock of Sanhua Co., Ltd. is 113 million shares, of which 30 million shares are tradable, and 24 million shares are tradable this time, with an issue price of 7.39 yuan. Sanhua Group, the controlling shareholder of Sanhua Group, is a private enterprise. Zhang Daocai and his son hold 41.5% of the shares of Sanhua Group.
The main business of Sanhua Co., Ltd. is the stop valve, solenoid valve, electronic expansion valve and other products for air conditioners. Sanhua shares 32.1% of the domestic market share of the stop valve, ranking first in the country, and 13.6% of the international market share. The scale advantage enables the company to have lower unit costs and pricing power for the stop valve. The raised funds are invested in four projects, including the construction of electronic expansion valve, with a total investment of 266.22 million yuan. After completion, it is expected to increase sales revenue by 315.3 million yuan and annual pre tax profit by 60.01 million yuan.
However, analysts believe that in recent years, the domestic refrigeration and air conditioner manufacturing industry has become increasingly competitive, and the air conditioner industry is depressed or has significant adverse changes, which will have a negative impact on the company's production and operation. At the same time, air conditioner manufacturers constantly require upstream parts suppliers to improve product quality and try to reduce the purchase price of parts, which also brings risks to the company's operation.
The main raw materials needed by the company for production are copper bars, copper parts and copper tubes. Raw materials account for a large proportion in the company's product cost structure. If the price of copper continues to rise, it will bring greater pressure to the company's costs.
