Research Express | Yantai Ishikawa Sealing Technology receives research from Galaxy Securities and two other institutions. The market space for metal-coated gasket plates far surpasses that of traditional gaskets.

Basic Research Information

Main Content of Investor Relations Activity

Company Overview Introduction

Yantai Shichuan Sealing Technology Co., Ltd. first introduced the company’s basic situation during the research, covering main business, core products, and market positioning, laying the foundation for subsequent exchanges.

Core Issue Discussions

2. End-market Application of Sealing Gasket Products
   The company stated that downstream customers for sealing gaskets are mainly engine manufacturers (primarily diesel engines), with downstream industries including automotive, power generation, shipping, and construction machinery. Different industries use different engine types. As a key engine component, sealing gaskets are designed and developed according to various operating conditions to meet demand, with plans to explore more application fields.

3. Downstream Applications of Metal Coated Adhesive Boards
   Regarding the metal coated adhesive board business, the company introduced its broad market potential in automotive sealing and shock absorption/dampening in brake systems. Currently, most high-end domestic markets are occupied by imported products. As a new high-performance composite material, this product can be used to manufacture high-end engine, transmission, compressor, and general gasoline engine seals, as well as automotive brake noise reduction parts and retaining rings. The downstream market covers the entire automotive industry (including new energy vehicles). Besides the annual demand from millions of new cars, there is also a large aftermarket repair demand, with future market potential far exceeding that of diesel engine seals.

4. Competitive Advantages in Product Market
   The company pointed out that the sealing gasket business keeps pace with OEM development, conducting synchronized R&D. Relying on industry-leading technology and product consistency, it has gained customer trust, continuously increasing market share, and maintaining a leading position in niche markets. The metal coated adhesive board aims for domestic substitution; after years of technical development, its performance approaches international advanced levels, with high cost-performance ratio. The company plans to leverage its engine sealing technology to accelerate layout in new energy vehicle sealing and precision processing, while expanding into other sealing fields such as transmissions, pumps, heat exchangers, and refrigeration.

5. Impact of Rising Oil Prices on Raw Materials
   Regarding costs, the company stated that main raw materials like stainless steel and rubber have experienced limited price fluctuations this year, with no significant increases. Energy consumption mainly involves electricity and steam, which have not been adjusted recently, so overall costs remain stable.

6. Impact of Delay in Fundraising Project “Sealing Gasket Technical Renovation and Expansion Project”
   The company explained that this project is for capacity expansion and technological upgrades of sealing gaskets. Since the IPO and the start of the fundraising project, industry fluctuations have occurred. The company has focused on actual needs, prioritizing existing capacity potential, actively adjusting project implementation pace, and strengthening technological upgrades to enhance product competitiveness, avoiding overcapacity risks caused by blind expansion.

This research did not involve any undisclosed material information.

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Editor: Xiao Lang Kuai Bao