A: Basic Information of the Company
Company Full Name: Zhejiang Cayi Vacuum Container Co., Ltd.
Stock Code: 301004
Stock Abbreviation: Cayi Shares
Region: Jinhua City, Zhejiang Province
Industry: Metal Products Industry
Establishment Date: May 12, 2004
Issue Price: The issue price is not provided
Founders: Qi Xinghua, Chen Shuiguang
Company Website: http://www.cayigroup.com
Registered Address: Baiyang Industrial Zone, Economic Development Zone, Wuyi County, Jinhua City, Zhejiang Province
Total Share Capital: 104 million shares
Market Capitalization: 12.397 billion CNY (as of October 24, 2024)
Business Scope: Research and development, production, and sales of stainless steel vacuum insulation vessels and non-vacuum vessels. The main products include stainless steel vacuum insulation cups, pots, stewing cans, thermos bottles, car cups, plastic cups, glass cups, etc.
Company Profile: Cayi Shares, established in 2004, is located in Baiyang Industrial Zone, Economic Development Zone, Wuyi County, Jinhua City, Zhejiang Province. The company is mainly engaged in the research and development, design, production, and sales of various materials of beverage and food containers. The products cover two major series: stainless steel vacuum insulation vessels and non-vacuum vessels. The company is a national high-tech enterprise with an experienced R&D design and production management team, which can meet the increasingly high product quality requirements of customers and is conducive to the company keeping up with market trends and fashion trends. The company cooperates with internationally renowned brand merchants and strengthens the development and promotion of its own brands through self-creation and acquisition, forming a series of products covering multiple target groups and application scenarios, further consolidating and enhancing the company's overall competitiveness.
B: Value Investment Analysis
Key Financial Indicators:
Revenue: 1.164 billion CNY for the period of January-June 2024, a year-on-year increase of 78.16%.
Net Profit: 317 million CNY for the period of January-June 2024, a year-on-year increase of 94.56%.
Total Market Capitalization: 12.397 billion CNY (as of October 24, 2024).
PE (TTM): 20.20, PB: 8.75.
Company Investment Value:
Cayi Shares, as a leading enterprise in the field of vacuum insulation cups and pots, has shown high investment value with its technological innovation and market-leading position in high-speed optical modules. The company's products are widely used in outdoor demand scenarios such as AI/ML clusters, cloud data centers, data communication, 5G wireless networks, and telecommunications transmission, and the company has served over 300 customers from more than 60 countries and regions. With its focus on high-performance optical modules and optical devices, Cayi Shares is well-positioned to benefit from the continuous growth in global demand for high-speed optical modules.
Company Growth Potential:
The growth potential of Cayi Shares is mainly reflected in the following aspects:
Technological Innovation: The company continues to increase R&D investment, driving the development of optical modules towards higher speeds, smaller packaging, lower power consumption, and lower costs.
Market Demand: With the rapid development of industries such as data centers and telecommunications networks, the demand for high-performance optical modules is increasing, providing a broad market space for the company.
Capacity Expansion: The company has initiated new high-speed optical module projects in Chengdu and Thailand, which are expected to add an annual production capacity of 2.95 million high-speed optical modules, further enhancing the company's production capacity and market competitiveness.
Industry Support Policies:
National support policies for strategic emerging industries such as new materials and high-end equipment manufacturing provide a favorable external environment for Cayi Shares. With the development of related industries, it will further promote the growth of the optical module industry, bringing more development opportunities for the company.
International Policy Risks:
Cayi Shares may face risks such as changes in trade policies and exchange rate fluctuations in the process of internationalization. The company needs to closely monitor international market dynamics and flexibly adjust market strategies to cope with potential policy risks.
A.Top's Investment Review:
Cayi Shares, as a leading enterprise in the field of vacuum insulation cups and pots, shows strong investment value and growth potential due to its technological strength, market prospects, and industrial chain integration. However, the company may also face certain policy risks in the process of internationalization. Investors should comprehensively consider the company's technical capabilities, market prospects, and potential risks when considering investing in Cayi Shares, and make rational investment decisions.