Termid annual output of 40 billion gloves to expand production projects "Gloves" Yingke Me

Although the global new crown pneumonia's epidemic is still continuing, with the change of the one -time protective glove market pattern, the "glove Mao" Yingke Medical (SZ300677, 23.95 yuan, 16.234 billion yuan), which has expanded multiple times in the early stage, quietly pressed the suspension button.

On the evening of June 13, Yingke Medical issued an announcement that it was planned to terminate the annual output of 40 million (40 million boxes) of high -end medical glove projects and the northern area of ​​the Northern District (Linxiang Industrial Park) in Chenglingji Xingang District (Linxiang Industrial Park). Essence

It is worth noting that on the morning of June 14th, when talking with reporters, relevant persons of the British Medical Securities Department said that the project termination was related to the "double carbon" policy, and it was also related to the industry's capacity. Risks of production capacity.

It has not yet been built by the plan to terminate the project

Although it is optimistic about the future domestic sales market, under comprehensive considerations such as market supply and demand tend to be balanced, British Medical Decision has decided to terminate a project involving 40 billion glove capacity.

The project to be terminated this time comes from the "about the signing of the annual output of 40 billion (40 million boxes) of high -end medical for 40 million (40 million boxes) of high -end medical in September 2020, which is subject to the board of directors of the Board of Directors in September 2020 in September 2020. A proposal of glove projects and the Northern District (Linxiang Industrial Park) Thermal Electricity Project Investment Agreement of the Northern District (Linxiang Industrial Park) of Chengling.

The "Investment Agreement" signed above shows that Yingke Medical plans to invest in the construction of 40 million (40 million boxes) high -end medical glove projects in the northern area of ​​the Northern Harbor District (Linxiang Industrial Park) in Chenglingji New Port District, Chengling 100 million yuan; at the same time, it is intended to invest 1 billion yuan to build the Northern District (Linxiang Industrial Park) thermoelectric joint production project in the northern area of ​​Chenglingji New Port District.

"Daily Economic News" reporter noticed that at that time, overseas was in a period of rapid spread of new crown pneumonia. The swarming orders made glove manufacturers expand the confidence.

At that time, Yingke Medical believed that people's awareness of medical protection in the future will become increasing, and future medical protection glove market space will be broad. The signing of this investment agreement aims to build high -end medical glove projects and make full use of energy, which is conducive to consolidating the company's position in the industry.

On September 3, 2020, Hunan Yingke Medical Technology Co., Ltd. (hereinafter referred to as "Hunan Yingke"), a wholly -owned subsidiary of Yingke Medical, set up a registered registration as an annual output of 40 billion (40 million boxes) high -end medical glove projects The subject.

On October 26, 2020, the company's wholly -owned subsidiary Hunan Yingyi Heatian Power Lianlian Co., Ltd. (hereinafter referred to as "Hunan Yingyi") was established as the implementation of the Northern District (Linxiang Industrial Park) Northern District (Linxiang Industrial Park) of Chenglingji (Linxiang Industrial Park). The main body of the project.

According to the information disclosed by Yingke Medical, after the establishment of Hunan Yingke and Hunan Yingyi, the above -mentioned projects have not yet built, and the progress is not expected.

In this regard, the explanation given by Yingke Medical states that since the signing of the "Investment Agreement", the relevant government departments have less than expected to approve the coal consumption indicators required by the company and cannot meet the company's continued production needs of production; The implementation of dual carbon policies, project approval conditions and other related policies have changed. Hunan Yingke and Hunan Yingyi cannot substantially promote the above projects.

It is worth noting that while the above -mentioned projects cannot be pushed substantially, British Medical and other parties directly abandoned the project -related claims.

According to the information disclosed by Yingke Medical, the "Lift Agreement of the Investment Agreement" stipulates that the company, Hunan Yingke, Hunan Yingyi and Linxiang City People's Government, Linxiang High -tech Zone Management Committee to terminate, exempt and exempt from all parties related to the project related to the projects related to the project All rights and obligations, abandon any claims related to the project, and exempt relevant legal liability for each other.

The industry is undergoing shuffling period

Compared with the termination of 40 billion glove projects, in the past two years, British Medical has been in the cycle of large production capacity expansion.

With the outbreak of the new coronary pneumonia in 2020, British Medical has expanded production, and the performance and stock price were "double -receiving".

"Daily Economic News" reporters found that British Medical's total gloves were 19 billion in 2019, with an annual sales of about 15.509 billion yuan. The company realized revenue of 2.083 billion yuan at that time, and its net profit was 178 million yuan.

After the outbreak of the new coronary pneumonia, British Medical chose to expand its capacity significantly. By the end of 2021, the annualized production capacity of the disposable non -latex gloves in Yingke Medical has expanded to 75 billion, of which the annualized capacity of one -time diced glove gloves was 45 billion, and the annualized production capacity of disposable PVC gloves was 30 billion.

Due to the demand for the prevention and control of the epidemic, British Medical's performance broke out in 2020. In 2021, it still showed positive growth. The current operating income was 16.24 billion yuan, and net profit was 7.43 billion yuan, an increase of 17.37%and 6.04%year -on -year.

Since 2020, in addition to the above -mentioned expansion plan located in Linxiang, Hunan, British Medical has also launched the construction of many glove projects such as Jiujiang, Anhui Huaining, Shandong Zibo, Henan Shangqiu, and even Vietnam. There will be more than 250 billion yuan.

However, with the gradual normalization of the epidemic prevention and control, the expansion of the aggressive production capacity in the early stage has become a "tricky" problem that British medical treatment has to face.

In the first quarter of 2021, glove demand and price reached the peak level. Facing the huge market demand, the industry companies at that time had invested large -scale investment to expand production, and even new manufacturers entering across the industry. But the sequelae of this expansion have also begun to appear. Taking British Medical as an example, the company's net profit fell by 98%to 83.49 million yuan in the first quarter of 2022. The data of the same period last year was 3.736 billion yuan.

"Daily Economic News" reporter noticed that British Medical mentioned in the 2021 annual report that "due to the expansion of production capacity and demand gradually returning to a stable state, the market is facing a situation that is greater than in the need, and the price has continued to fall. The sales price of the channel is close to the level before the epidemic. "

Regarding the termination of the Hunan Linxiang project, British medical persons bluntly said to reporters that they must have a relationship with the industry's capacity. In the risk prompts that are easy to disclose, the company's supply and demand company mentioned it many times.

In the announcement on June 14, British Medical mentioned that due to the changes in policies and markets, the project is not conducive to the implementation of the project.

"At present, the disposable glove industry is experiencing fierce competition and shuffling period in the industry. The current point of time is relatively high." At the 2021 performance briefing meeting held on the afternoon of May 24th, Li Bin, the secretary of British Medical, responded to investors' questions. Said that "the glove industry does face certain challenges in the near future, it belongs to the normal periodic adjustment of the industry."

Daily Economic News

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