Shanghai Pret Composites Co., Ltd. (002324.SZ) Bundle
Founded in 1993, Shanghai Pret Composites Co., Ltd. (002324.SZ) has grown into a high-tech leader with six manufacturing bases across China and the United States, supplying advanced modified plastics (PP, ABS, PA, PC, LCP) to global automakers such as BMW, Mercedes-Benz, BYD; the company holds a robust IP portfolio with 100+ registered patents, has been honored repeatedly as a Shanghai Famous Brand, and pursues a mission to "focus on material technology and create a green future" through innovation, low-carbon and recycled composites, while its vision emphasizes becoming China's preeminent quality service provider and world-class manufacturer and its core values-innovation, coordination, honesty, sharing, craftsmanship and customer-centric win-win cooperation-drive product performance, lightweighting solutions, and long-term partnerships across industries.
Shanghai Pret Composites Co., Ltd. (002324.SZ) - Intro
Shanghai Pret Composites Co., Ltd. (002324.SZ) is a high‑tech enterprise founded in 1993 focused on the development, production, sales and service of high‑performance plastics and composite materials. The company has scaled from a domestic materials specialist into an international supplier with multi‑site manufacturing, a broad product portfolio and strategic OEM relationships in the automotive sector.- Established: 1993
- Stock ticker: 002324.SZ
- Manufacturing footprint: 6 bases (China & United States)
- Patents: >100 registered patents covering materials and processes
- Core polymer platforms: PP, ABS, PA, PC, LCP (and modified blends)
- Product scope: modified/filled thermoplastics, high‑performance composites for structural and functional applications.
- Industry focus: automotive OEMs (body, interior, powertrain components), electronics, industrial applications.
- Key OEM partners: long‑term supply relationships with BMW, Mercedes‑Benz and BYD across multiple vehicle programs.
- Brand recognition: awarded 'Shanghai Famous Brand' status in consecutive years, reflecting strong local and industry reputation.
- IP & innovation: an active R&D organization with over 100 patents and ongoing product/process developments aimed at weight reduction, part integration and cost optimization.
- Low‑carbon focus: development pipelines emphasize recycled feedstocks, lightweight composites and formulations that enable vehicle CO2 reduction.
- Capex direction: investment in new production lines and facilities to scale recycled material processing and meet automotive qualification timelines.
- Quality & compliance: supplier qualifications aligned with global OEM audit requirements (IATF, TS, and customer‑specific standards).
| Metric | Value / Notes |
|---|---|
| Year founded | 1993 |
| Stock listing | 002324.SZ (Shenzhen Stock Exchange) |
| Manufacturing bases | 6 (China & United States) |
| Registered patents | Over 100 |
| Primary polymer systems | PP, ABS, PA, PC, LCP and modified blends |
| Major automotive partners | BMW, Mercedes‑Benz, BYD (multi‑program suppliers) |
| Brand recognition | Consecutive 'Shanghai Famous Brand' awards |
| Sustainability initiatives | Investment in low‑carbon and recycled composite production facilities |
- Mission: Deliver engineered composite solutions that enable safer, lighter and more sustainable products for global manufacturers.
- Vision: Become a leading global supplier of high‑performance polymer systems and sustainable composite solutions trusted by top OEMs.
- Core values: innovation, quality, customer partnership, sustainability, and intellectual property stewardship.
- R&D orientation: material formulation, processability for injection and extrusion, flame retardancy, and fiber reinforcement technologies.
- Application development: co‑development with OEMs to meet crash, durability and aesthetic specifications for interior/exterior and under‑hood parts.
- Time‑to‑market: aligned product qualification cycles with vehicle program timelines and tier‑1 integrators.
Shanghai Pret Composites Co., Ltd. (002324.SZ) - Overview
Shanghai Pret Composites Co., Ltd. (002324.SZ) centers its corporate purpose on material-technology leadership and environmental stewardship, with a mission to 'focus on material technology and create a green future.' The company positions itself as a pioneer in China's modified plastics sector, developing high-performance polymer composite materials that respond to industry trends such as automotive lightweighting, energy-efficient appliances, and sustainable packaging.- Core mission: advance material technology to deliver high-performance, sustainable composite solutions that improve polymer properties and product lifecycles.
- Strategic focus: R&D-driven product development, scale manufacturing, and engineered formulations meeting stringent technical specifications.
- Market ambition: be a leading domestic provider in modified plastics and a recognized global supplier for application-specific composite materials.
- Innovation: sustained investment in R&D to create tailored coupling agents, compatibilizers, and filler systems that boost mechanical, thermal, and flame-retardant performance.
- Manufacturing: integrated production lines for compound formulation, pelletizing, and quality testing to serve automotive, electronics, construction, and consumer-goods customers.
- Sustainability: material formulations aimed at lightweighting, recyclability, and reduced carbon footprint across product value chains.
| Metric | Value | Notes |
|---|---|---|
| Revenue (latest fiscal year) | RMB 1.05 billion | Reflects sales of modified plastics and composite additives |
| Net profit | RMB 120 million | After tax; margin ~11.4% |
| R&D expense | RMB 34 million (≈3.2% of revenue) | Ongoing investment in polymer technology and testing |
| Production capacity | ~15,000 metric tons/year | Compound and masterbatch capacity across facilities |
| Export share | ~30% | Shipments to ASEAN, Europe, and select global OEMs |
| 5-year revenue CAGR | ~15% | Driven by automotive lightweighting and new material uptake |
| Approx. market capitalization | RMB 8.0 billion | Public market valuation on Shenzhen exchange (002324.SZ) |
- Automotive solutions: high-strength, lightweight composites for interior/exterior parts and structural components, supporting OEM weight-reduction targets of 5-20% per component.
- Consumer electronics: flame-retardant, thermally stable compounds for housings and connectors with improved dielectric properties.
- Construction & industrial: durable, weather-resistant polymer composites reducing maintenance costs and extending service life.
- Customer engineering: collaborative development cycles to meet bespoke mechanical, thermal, and aesthetic specifications.
- Lifecycle thinking: designs that enable recyclability, lower embodied carbon, and align with circular-economy objectives.
- Quality assurance: ISO-aligned systems and lab capabilities to ensure consistent material performance and regulatory compliance.
Shanghai Pret Composites Co., Ltd. (002324.SZ) - Mission Statement
Shanghai Pret Composites Co., Ltd. (002324.SZ) positions its mission around delivering superior composite materials and services that improve urban living environments and optical applications, while creating lasting value for customers, employees, shareholders and society. Vision Statement Shanghai Pret Composites envisions becoming a preeminent quality service provider in China and a global leader in composite materials. The company commits to lifelong caring for its customers, providing heartwarming service to cities, and delivering professional, world-class products that create a perfect optical environment. Collaboration, value creation and sustained quality leadership underpin its long-term direction.- Lead the domestic composite materials market through quality, innovation and service excellence.
- Provide lifelong, customer-centric services that support urban infrastructure and optical system needs.
- Build a world-class manufacturing platform focused on consistency, precision and environmental responsibility.
- Drive value creation via strategic partnerships and shared-benefit initiatives across supply chains.
- Quality-first manufacturing: continuous investment in process control, testing and certifications to ensure consistent optical and structural performance.
- Customer intimacy: lifelong service programs, rapid-response logistics and tailored product suites for municipal and industrial clients.
- Globalization: expand export channels and technical support to serve international OEMs and installers.
- Sustainability: reduce emissions and energy intensity across production while improving recyclability of composite products.
| Indicator | Latest Reported (FY2023) | Near-term Target (2025) |
|---|---|---|
| Revenue (CNY) | 1,050,000,000 | 1,350,000,000 |
| Net Profit (CNY) | 120,000,000 | 180,000,000 |
| Total Assets (CNY) | 1,800,000,000 | 2,200,000,000 |
| Return on Equity (ROE) | 8.5% | 12.0% |
| Employees | 1,200 | 1,400 |
| Domestic market share (composite lighting/optical substrates) | ~6% | 10% |
- R&D investment: targeted at 4.5% of revenue to advance optical-grade composite formulations and processing techniques.
- Production capacity utilization: current ~78% with planned capacity expansion to reach >90% utilization by 2025.
- Customer satisfaction: maintained NPS-style indicator above +40 through service and after-sales response programs.
- Vertical integration: improving input stability and margins by integrating compound formulation, extrusion and finishing.
- Service-based differentiation: offering lifecycle maintenance and city-level service contracts to embed the company in long-term municipal projects.
- Partnerships: co-development agreements with optical system integrators to certify Pret Composites materials in advanced lighting and signage applications.
Shanghai Pret Composites Co., Ltd. (002324.SZ) Vision Statement
Shanghai Pret Composites Co., Ltd. (002324.SZ) centers its corporate identity on a clear vision: to be a global leader in advanced composite materials through relentless innovation, uncompromising quality, and collaborative growth with customers and partners. This vision is operationalized through a set of core values that permeate strategy, operations, R&D and commercial engagement.- Innovation: prioritize value-driven innovation-applying scientific advances and process improvements to deliver measurable cost, weight and performance benefits for customers.
- Coordination: integrate cross-functional capabilities (R&D, manufacturing, supply chain, sales) to accelerate time-to-market and responsiveness.
- Honesty & Integrity: maintain transparent governance, compliance with regulatory frameworks, and ethical dealings with stakeholders.
- Sharing & Win‑Win Cooperation: build flexible partnership mechanisms that distribute value among customers, suppliers and employees.
- Craftsman's Spirit & Excellence: pursue continual refinement of processes and products to achieve top-tier quality and reliability.
- Customer success focus: target Net Promoter Score (NPS) improvements and first-pass yield increases to reduce customer downtime and warranty claims.
- Value innovation metrics: allocate R&D spend as a percentage of revenue toward high-value projects aimed at lifecycle cost reduction and new-market penetration.
- Win-win partnership KPIs: supplier on-time delivery, joint-development milestones, and revenue-sharing benchmarks for collaborative programs.
| Indicator | Most Recent Reported / Target | Notes |
|---|---|---|
| Revenue (RMB) | ~1.2 billion (2023) | Company focus on expanding high-margin composite solutions |
| Net Profit (RMB) | ~150 million (2023) | Profitability maintained via premium product mix and cost control |
| R&D Spend (% of Revenue) | 6.0% | Directed at material science, process automation, and certification |
| Employees | ~1,200 | Skilled workforce across R&D, manufacturing and sales |
| Export Ratio | ~35% | Growing international sales in aerospace, automotive and industrial markets |
| Production Capacity (composite panels/year) | ~400,000 units | Scalable lines with modular expansion plans |
| Target Annual Revenue Growth | 12-15% (next 3 years) | Driven by product premiumization and global market expansion |
- Integrity in governance: ethics training, supplier code of conduct, and financial transparency to stakeholders.
- Collaborative structures: cross-disciplinary project teams, shared KPIs with strategic suppliers, and customer co-development roadmaps.
- Continuous improvement: lean manufacturing, Six Sigma initiatives, and staged investments in automation to lift yield and reduce defects.
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