郭思治: 環球新材國際(06616.HK)IPO可敲 具高科技概念估值吸引
香港股票分析師協會副主席郭思治稱,環球新材國際(06616.HK)正式公開招股,集團是內地最大的珠光顏料生產商之一,市場份額爲11%,在全球市場上,爲第四大珠光顏料生產商,市場份額爲3%,於2020年佔中國珠光顏料市場48.44億元人民幣的15.8%。集團生產及銷售全面的珠光顏料產品組合,涵蓋不同用途及行業,包括工業塗料、塑料、紡織品及皮革、化妝品及汽車塗料。產品以「七色珠光」品牌銷售予中國及亞洲、歐洲、非洲及南美洲超過30個國家及地區。
作爲一種新型功能材料,珠光顏料產品的市場增長主要在於逐漸取代傳統有機顏料及金屬顏料併成爲其代替品;加上珠光顏料產品具有顯着的化學及光學性能,如耐溫、耐候、耐光、耐水、色牢度等,令珠光顏料產品的用途擴展到其他創新下遊用途,已普遍獲不同行業的顧客接受。
展望未來,集團將進一步加強研發能力,包括繼續研發新產品及新用途,尤其加強對汽車及化妝品級、以及耐候的珠光顏料產品的研究工作,以進一步完善高端珠光產品的產品結構,實現珠光顏料產品用途多元化。另外,集團將繼續投資新技術及新廠房及機器,以進一步改良及優化加工及生產技術,進一步改進珠光顏料生產過程中的水洗過程,從而適應行業趨勢及客戶不斷變化的需求及要求。集團亦與中國的大學及機構合作進行多個研究項目。包括與廣西科學院合作,成立國家企業研發技術中心,以進行珠光顏料產品及合成雲母的工業用途研究。
另外,集團亦與湖北工業大學合作,成立「七色珠光新材料研發中心」,以進行新產品及新用途的研發,並改善及開發新的生產技術及升級生產廠房及機器。公司在A股市盈率高達100倍,而環球新材2021年預測業績對應市盈率才15至20倍,所以價值窪地明顯。香港投資人要正確認識公司,不是傳統製造業,不是化工股,是消費類新材料,雲母製品是被國家列入戰略性新興產業目錄。集團是消費類新材料以及高科技的性質,投資者在公開招股時不妨多加關注。
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