Brief Introduction

The Company is a new functional coating material manufacturer that targets high-end consumer electronics, passenger car parts and other high-end consumer products in 3C industry, aiming to provide customers with paints, special ink and other multi-category systematic solutions through the model of "interactive" independent R&D and "customized flexible manufacturing".

At present, the Company offers three types of new functional coating materials, i.e. paint, special ink and adhesive, which are mainly used in the industry of high-end consumer electronics and passenger cars. Based on intensive efforts in the target market and professional fortress development pattern, the Company has its terminal customers in Asia, America, Europe and other regions, and has basically achieved full coverage of the downstream target market.

In the field of high-end consumer electronics, the Company's business has covered four market segments (mobile phones and related accessories, laptops and related accessories, wearable devices and intelligent household appliances), and has formed a multi-category, integrated product system structure including paints and special inks. The core enterprises in cooperation with terminal companies of high-end consumer electronics include Huawei, Apple, Xiaomi, HP, Microsoft, Google, Amazon, VIVO and MOTO, etc. The Company is a coating material manufacturer that has successfully entered the international famous terminal brand supply system and has established a relatively stable business cooperation relationship with it, and can compete with international giants such as AkzoNobel and PPG.

In the field of passenger auto (parts), the Company, relying on its technical advantages and brand influence accumulated in the field of high-end consumer electronics, has successfully made technical and market breakthroughs in such field. The core customers that have been supplied or whose customer supply system the Company has entered include Geely, GAC, SAIC GM-Wuling, Valeo and other well-known vehicle and auto parts manufacturers at home and abroad.

Company Overview

Abbreviations Sokan
Code 688157
Founded 2009-03-20
Listing 2020-06-09
Domicile Hunan . Ningxiang
STAR Theme New materials
CSRC Sector Manufacturing
Has weighted voting rights structure? No



  2020 2019 2018
Earnings Per Share 1.26 1.56 0.92
R&D expenditure as a % of operating revenue 12.07% 9.84% 11.66%
Operating Revenue 434,926,289.09 455,138,283.31 262,232,747.82
Net Income 87,179,936.01 92,873,689.04 52,272,533.67

Income Statement (Unit: RMB mn)

  2020 2019 2018
Operating Revenue 434.93 455.14 262.23
Operating Costs 346.84 345.28 211.66
Operating Income 92.96 105.48 56.10
Pretax Income 96.83 106.30 57.89
Income Tax 10.06 14.82 6.42
Net Income 86.77 91.48 51.47

Balance Sheet(Unit: RMB mn)

  2020 2019 2018
Current Assets-Total 1,023.12 405.48 291.19
Non-current Assets-Total 219.46 165.31 127.27
Total Assets 1,242.58 570.79 418.46
Current Liabilities-Total 131.44 159.68 103.00
Non-current Liabilities-Total 10.09 10.23 6.49
Total Liabilities 141.53 169.91 109.49
Stockholder's Equity
Share Capital 878.33 258.83 258.29
Retained Profits 216.97 141.05 50.19
Minority Interests 5.75 0.99 0.50
Total Owners' Equity 1,101.05 400.88 308.97

Cash Flow Statement (Unit: RMB mn)

  2020 2019 2018
Net Cash Flows-Operating 71.75 72.52 16.34
Net Cash Flows-Investing -227.64 -53.04 -7.40
Net Cash Flows-Financing 610.67 1.44 0.10

Top 10 Shareholders

Name No. of Shares Held (mn) % of Shares Held
Changsha Maosong Technology Co., Ltd. 38.49 48.35%
Changsha Songyuan Enterprise Management Consulting Partnership (Limited Partnership) 6.24 7.82%
Changsha Songmao Asset Management Partnership (Limited Partnership) 5.36 6.74%
Wu Song 2.83 3.56%
Yan Yaofan 2.26 2.84%
Dai Lincheng 2.26 2.84%
Yang Bo 2.26 2.84%
China Merchants Bank Company Limited- Penghua emerging industry hybrid securities investment fund 1.39 1.75%
Penghua Fund Management Co., Ltd.- Social security fund 17031 portfolio 0.81 1.02%
Debang Xingrui Investment Management Co., Ltd. 0.76 0.96%
31 Mar 2021

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