Real Technology Spent 55 Million Of Its Repurchase Shares On Equity Incentives, And Its Revenue In The Three Quarter Exceeded 1 Billion 200 Million.

Zhejiang Real Madrid Polytron Technologies Inc, a local printing and dyeing auxiliaries manufacturer, has recently announced that the Company repurchased the company's shares in a centralized bidding paction, the upper limit of the repurchase amount was 55 million yuan, and the repurchase price limit was 22 yuan / share. The buyback period was not exceeding 12 months, and the repurchase stock was used for the follow-up equity incentive plan.

Reporters learned here that the proposed repurchase shares are common stock (A shares).

If the repurchase limit is 55 million yuan and the repurchase price limit is 22 yuan / share, the largest repurchase stock is estimated to be about 2 million 500 thousand shares, accounting for 1.25% of the total share capital issued by the company.

The number of specific repurchase shares shall be based on the number of shares actually repurchased at the end of the buyback period.

Real Madrid technology said that in recent years, the stock price of the company was affected by many factors such as macro-economic and capital market fluctuations. The company's stock price failed to reflect the actual value and performance of the company.

Based on the steady growth of the company's current performance, in order to further enhance the company's value, enhance investor confidence and promote the rational return of the company's stock value, at the same time, in order to establish and improve the long-term incentive mechanism of the company, fully mobilize the enthusiasm of the company's employees, and effectively integrate the interests of shareholders, the company's interests and the personal interests of employees, and promote the healthy and sustainable development of the company, the company repurchases the shares with its own funds.

As of September 30, 2018, the total assets of real technology were 1 billion 570 million yuan, the net assets attributable to shareholders of listed companies were 1 billion 373 million yuan, and current assets were 643 million yuan.

According to the repurchase limit of 55 million yuan, it accounted for 3.50%, 4.01% and 8.55% of the above indicators respectively.

Public information shows that Real Madrid technology was established in 2003. After years of cultivation, 200 thousand tons of special surfactant production capacity has been formed. It has ten major plates, including silicone, lubricating oil, printing and dyeing, coating, water treatment, textile, personal care, water reducing agent and so on. The product has reached over 1300 kinds, and it is a special surfactant enterprise in the leading level of domestic production scale, variety quantity and technology level.

Reporters learned that the Real Madrid technology company relies on technological research and development advantages to implement the policy of "large variety structure adjustment, functional small variety and profit making" to achieve steady growth in performance.

In the 2015-2017 year, the company's revenue CAGR was 5.1%, and net profit CAGR was 22.9%. From 2015 to the first three quarters of 2018, the sales of small variety plates increased from 35% to 43%.

In 2017, the company achieved operating income of 1 billion 680 million yuan, an increase of 12.1% over the same period, and a net profit of 148 million yuan, an increase of 63.9% over the same period last year.

In the first three quarters of 2018, the company achieved operating income of 1 billion 260 million yuan, an increase of 4.5% over the same period last year, and net profit of 136 million yuan, an increase of 38.3% over the same period last year.

Ni Ji, an analyst with Orient Securities, said that the business of Real Madrid is mainly divided into two parts: large varieties and small varieties, among which the main varieties are water reducing agents and small varieties are non-ionic surfactants.

Although the proportion of small varieties accounted for only 40%, gross profit contributed to 60-70%, which is the main source of profits for the company and the future direction of the company's development.

Because the shelf life of ethylene oxide (EO) is very short, it is necessary to determine the annual purchase volume in advance with the upstream, while the special surfactant is used to set the production. Real Madrid has developed the water reducing agent monomer plate in order to guarantee the production of small varieties and the amount of EO procurement.

We analyzed the industry situation of plasticizer monomer in two deep reasons such as "two reasons for optimistic oak" and "polyether monomer gross profit margin is expected to continue to improve". The demand for water reducer in the future is expected to increase along with the increase in infrastructure investment and industry penetration, and the profitability of the industry's leading companies will be further enhanced.

In the view of Ni Ji, Real Madrid technology as the top 5 enterprises in the water reducing monomer industry, though not as big as oak, is also significantly larger than other small businesses. It is expected that its water reducing agent profit will also benefit from the industry.

Ni Ji believes that at present, sales of Real Madrid technology small varieties have reached about 60 thousand tons, and the varieties can be produced to about 1300 species. Both in terms of production scale and variety richness, they are significantly ahead of domestic competitors.

Although real technology has been in the leading position in the country, its proportion in the world is still very low, and the income volume is even more than ten times higher than that of gro or colon, not to mention BASF and Dow.

Although Real Madrid technology started late in the special surfactant industry, the starting point is relatively low, and the gap between the leading and the leading companies is very large.