Brief Introduction

Tianjin Jiuri New Materials Co., Ltd. (Securities abbreviation:Jiuri New Materials, stock code: 688199) was founded in 1998. It's mainly engaged in the R&D, manufacturing and sales of photoinitiator. It is the supplier with the largest output and most varieties in China, taking approximate 30% market share. Jiuri has a global influence and strong competence in production varieties, R&D, service, stable supply capabilities and brand influence.

Jiuri adheres to the business philosophy of "taking technology as the core, market as the guidance and quality as the guarantee". Through focusing on innovation and development, Jiuri contributes to providing environmentally friendly, energy-saving and efficient UV curing products, technologies and services for the prevention and control of air pollution and the industrial upgrading of downstream industries. In addition, in order to improve the professional and technical service capacity to meet the personalized needs of downstream customers, Jiuri also positively explores the mixed use of various types of photoinitiator and the R&D of the combination of photoinitiator, monomers and resins.

Jiuri is a national high-tech enterprise with outstanding technical and scientific research capability. Jiuri has established "Municipal Enterprise Technology Center" and "Tianjin Photoinitiator Technology Engineering Center" and set up enterprise academician and expert workstation. As of March 31, 2019, Jiuri and its subsidiaries have 934 employees in total among whom 33 with master's degree, college and above degree accounting for 27.84% including 130 R&D technicians. Jiuri has set up a modern R&D center in the headquarter and employed senior professors of Nankai University as technical consultants. With the effort of self-development and innovation, so far, Jiuri has 47 patents including 41 innovation patents and 6 patents for utility model.

The business strategy of Jiuri is "industrial integration, horizontal expansion and vertical extension". Focusing on the existing products and markets, Jiuri will implement global business strategy which means that the company will constantly enrich the product lines and expand the business influence in photoinitiator industry by enhancing the product diversification development strategy based on maintaining the leading position in the photoinitiator field. Jiuri will gradually enhances R&D, production and sales of special monomers, resins and other photoinitiator raw materials to further expand market share and improve comprehensive competitive advantage to build the company into a global leader in the photoinitiator industry, and realize the vision of becoming a "global leader in photoinitiator materials".

Company Overview

Full name Tianjin Jiuri New Materials Co., Ltd.
Abbreviations Jiuri
Code 688199
Founded 1998/10/30
Listing 2019/11/5
Domicile Tianjin
STAR Theme New Materials
CSRCSector Manufacturing
Has weighted voting rights structure? No



  2018 2017 2016
Earnings Per Share 2.21 0.64 0.53
R&D expenditure as a % of operating revenue 4.30% 3.91% 3.97%
Operating Revenue 1,005.16 739.78 638.59
Net Income 175.93 50,59 41.41

Income Statement (Unit: RMB mn)

  2018 2017 2016
Operating Revenue 1,005.16 739.78 638.59
Operating Costs 788.90 689.54 593.55
Operating Income 216.55 62.20 45.04
Pretax Income 213.18 61.60 49.29
Income Tax 37.25 11.01 7.88
Net Income 175.93 50.59 41.41

Balance Sheet(Unit: RMB mn)

  2018 2017 2016
Current Assets-Total 622.16 477.70 484.52
Non-current Assets-Total 609.49 572.71 500.36
Total Assets 1,231.65 1,050.41 984.88
Current Liabilities-Total 386.44 365.19 400.60
Non-current Liabilities-Total 59.93 70.50 20.15
Total Liabilities 446.38 435.69 420.75
Stockholder's Equity
Share Capital 394.76 385.37 385.37
Retained Profits 389.38 229.35 178.75
Total Owners' Equity 785.27 614.72 564.13

Cash Flow Statement (Unit: RMB mn)

  2018 2017 2016
Net Cash Flows-Operating 126.82 68.05 18.24
Net Cash Flows-Investing -39.44 -98.40 -94.93
Net Cash Flows-Financing -24.48 46.32 80.34

Top 10 Shareholders

Name No. of Shares Held (mn) % of Shares Held
Guofeng Zhao 19.77 17.78%
Minyu Xie 6.37 5.73%
Shenzhen Capital Group Co.,Ltd 5.42 4.88%
Jiuri New Material Securities account for unconfirmed holders 2.77 2.20%
Guangdong Yingfeng Investment Fund Partnerships(Limited Partner) 2.33 2.09%
Fashu Chen 1.99 1.79%
Hebei Guochuang Venture Capital Co.,Ltd. 1.90 1.71%
Dingtaihaifu Investment Fund Management Co.,Ltd. 1.89 1.70%
Lixin Wang 1.49 1.34%
Pacific Securities Co.,Ltd. 1.41 1.26%
04 Nov 2019

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