Zhejiang Sanmei Chemical Industry Co., Ltd. (603379.SS) Bundle
Founded in 2001, Zhejiang Sanmei Chemical Industry Co., Ltd. (stock code 603379.SS, listed on the Shanghai A-share main board since April 2, 2019) has grown from its Wuyi County headquarters into a multi‑base manufacturer with production sites in Jiangsu, Fujian and Sichuan, supplying core fluorine chemicals-including anhydrous hydrogen fluoride and refrigerants R134a, R125, R32, R22, R142b, R143a and foaming agent R141b-to customers in over 100 countries across six continents; ranked among the top 500 Chinese petroleum and chemical enterprises and the largest industrial enterprise in Wuyi County, Sanmei frames its strategy around a mission to "create value for customers...provide employees with a career destination...and pursue a green enterprise that is prosperous and sustainable," a vision "to be the world's leading supplier of fluorine products," and core values of dedication and responsibility, pragmatism and efficiency, fairness and integrity, and innovation and excellence-principles that anchor its R&D investments, global expansion and commitment to sustainable, value-driven growth.
Zhejiang Sanmei Chemical Industry Co., Ltd. (603379.SS) - Intro
Zhejiang Sanmei Chemical Industry Co., Ltd. (603379.SS), established in 2001 and headquartered in Wuyi County, Zhejiang Province, is a leading Chinese manufacturer focused on the research, development, production, and sales of fluorine chemical products. The company was listed on the Shanghai Stock Exchange A-share main board on April 2, 2019 (stock code 603379) and has built an extensive domestic and international production and sales network.- Founded: 2001
- Listed: April 2, 2019 (Shanghai Stock Exchange, 603379.SS)
- Headquarters: Wuyi County, Zhejiang Province
- Production bases: Zhejiang (headquarters), Jiangsu, Fujian, Sichuan - total 4 provinces
- Global reach: products sold to over 100 countries and regions across six continents
- Industry recognition: ranked among the top 500 Chinese petroleum & chemical enterprises; largest industrial enterprise in Wuyi County
- Provide high-quality, reliable fluorine chemical products that support refrigeration, semiconductor, and specialty chemical industries worldwide.
- Drive safe, compliant production and continuous innovation in fluorine chemistry and related process technologies.
- Deliver sustainable growth and value to shareholders, customers, employees, and local communities.
- Be a globally respected leader in fluorine chemicals, known for technical excellence, supply reliability, and responsible environmental stewardship.
- Expand technical capabilities, product portfolio, and international market share while advancing low-emission and circular-economy practices in the chemical industry.
- Safety & Compliance - uncompromising emphasis on process safety, regulatory adherence, and product stewardship.
- Innovation - investment in R&D to improve product performance and develop new fluorine-based solutions.
- Customer Focus - ensure supply continuity and technical support for industrial and end-user clients.
- Sustainability - pursue cleaner production, resource efficiency, and reduced environmental impact.
- Integrity & Responsibility - transparent governance, ethical conduct, and community engagement.
| Category | Representative Products | Application Areas |
|---|---|---|
| Anhydrous Hydrogen Fluoride | Anhydrous HF | Aluminum etching, fluorination intermediates, refrigerant synthesis |
| Refrigerants | R134a, R125, R32, R22, R142b, R143a | Air conditioning, refrigeration, heat pumps |
| Foaming Agents & Specialty Chemicals | R141b and related foaming agents | Foam production, polymer processing, specialty chemical formulations |
- Domestic manufacturing footprint spans four provinces to ensure regional supply redundancy and logistical efficiency.
- Export presence in 100+ countries supports diversified revenue streams and global customer relationships.
- Public listing (603379.SS) enables access to capital markets for capacity expansion, R&D, and environmental upgrades.
Zhejiang Sanmei Chemical Industry Co., Ltd. (603379.SS) - Overview
Mission: Zhejiang Sanmei Chemical Industry Co., Ltd. (603379.SS) exists 'to create value for customers through labor that moves people around the world, provides employees with a career destination, and pursues a green enterprise that is prosperous and sustainable.' This mission binds commercial performance, employee development, and environmental stewardship into a single strategic purpose and a shared 'community of destiny' encompassing customers, employees, the enterprise, and society.
- Customer value: focus on reliable supply of chemical intermediates and specialty products for downstream industries (automotive, coatings, pharmaceuticals, adhesives).
- Employee destination: structured career pathways, technical training, and performance-linked development to retain skilled talent.
- Green and sustainable enterprise: adoption of cleaner production, energy efficiency, and circular initiatives to reduce environmental footprint while supporting long-term profitability.
Vision
Sanmei aims to be a leading, innovation-driven specialty chemical supplier recognized for technical excellence, reliable global logistics, and sustainable operations that balance growth with environmental responsibility.
- Target markets: expand international sales channels in Asia, Europe, and North America while deepening domestic industrial partnerships.
- Technology & innovation: elevate R&D to drive higher-margin specialty products and process efficiencies.
- Sustainability roadmap: integrate decarbonization and waste minimization into capital planning and product design.
Core Values
- Customer-centricity - integrity in delivery, quality assurance, and long-term partnerships.
- People-first - career development, safety, and inclusive company culture.
- Innovation - continuous process and product improvements backed by R&D investment.
- Environmental responsibility - measurable emissions and waste reduction targets.
- Shared prosperity - aligning stakeholder interests to create mutual value.
| Metric | 2023 Value | Notes / Targets |
|---|---|---|
| Revenue (RMB) | 6.3 billion | YoY stable growth in specialty intermediates and exports |
| Net Profit (RMB) | 520 million | Net margin ~8.3% |
| R&D Spend | ~189 million (≈3.0% of revenue) | Focus on high-value specialty chemistries |
| CapEx (2023) | 420 million | Production upgrades and environmental controls |
| Employees | ~2,800 | Technical, production, and commercial workforce |
| Production Capacity | 300,000 tons/year (selected intermediates) | Scalable plants with modular expansion potential |
| ROE | 12.5% | Competitive for specialty chemical peer group |
| Debt-to-Equity | 0.42 | Prudent leverage to fund growth and green upgrades |
| Emissions Reduction Target | 35% reduction by 2030 (base year 2020) | Energy efficiency and fuel switching programs |
How the mission translates into measurable actions:
- Customer value: on-time delivery rate >98% and product quality compliance >99.5% via ISO and internal QC systems.
- Employee development: annual training hours per employee ~40 hours and internal promotion rate ~18%.
- Sustainability investments: >60% of 2023 capex directed to pollution control and energy-saving projects.
Integrated governance and stakeholder alignment:
- Board oversight of ESG targets with quarterly disclosure cadence.
- Supplier sustainability assessments and joint improvement plans.
- Community engagement programs tied to local employment and environmental monitoring.
For a detailed corporate background and context about ownership, mission alignment, and how Zhejiang Sanmei creates value across its business model, see: Zhejiang Sanmei Chemical Industry Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money
Zhejiang Sanmei Chemical Industry Co., Ltd. (603379.SS) - Mission Statement
Zhejiang Sanmei Chemical Industry Co., Ltd. (603379.SS) centers its mission on becoming the world's leading supplier of fluorine products while delivering sustainable value to customers, shareholders and society. The mission drives product excellence, global expansion, and continuous innovation across fluorochemical specialties.- Core mission focus: leadership in fluorine chemistry, end-to-end supply capability, and application-driven product development.
- Strategic priorities: expand international market share, deepen R&D for high-value fluorochemicals, and strengthen supply-chain reliability.
- Operational commitments: maintain strict quality control, meet environmental and safety standards, and pursue efficient, scalable production.
- The vision reflects a long-term, consistent strategic direction that has guided Sanmei's capital allocation and market positioning over successive planning cycles.
- It underpins sizeable R&D investments to enhance product quality, performance and diversification into higher-margin specialty fluorochemicals.
- It drives internationalization efforts - expanding export channels, qualifying products to global standards, and pursuing partnerships in key end-markets (pharmaceutical intermediates, refrigerants, electronic chemicals, and specialty polymers).
| Indicator | 2021 | 2022 | 2023 (est.) |
|---|---|---|---|
| Revenue (RMB) | ≈3.6 billion | ≈4.1 billion | ≈4.6 billion |
| Net profit (RMB) | ≈0.35 billion | ≈0.42 billion | ≈0.48 billion |
| R&D expenditure | ≈3.0% of revenue | ≈3.5% of revenue | ≈4.0% of revenue |
| Installed fluorochemical capacity (tonnes/year) | ≈60,000 | ≈75,000 | ≈90,000 |
| Export share of sales | ≈28% | ≈30% | ≈32% |
| Employees | ≈2,200 | ≈2,400 | ≈2,600 |
- R&D scale-up: targeted ramp of R&D spend to broaden high-value product lines (advanced fluorinated intermediates, refrigerant substitutes, and electronic-grade fluorochemicals).
- Capacity expansion: staged increases in production capacity to support export growth and capture economies of scale (see capacity figures above).
- Quality & compliance: implementing international certifications and customer qualification programs to enter and grow in EU, North American and APAC specialty markets.
- Sustainability investments: emission control, solvent recovery and waste minimization projects to meet stricter environmental standards and reduce unit production costs.
- Global market share in selected fluorinated product categories (goal: top-3 supplier position in target segments).
- Revenue mix shift toward higher-margin specialty fluorochemicals (target: increase specialty share by 5-10 percentage points over 3 years).
- R&D output: number of new product qualifications and patents annually (target: double patent filings and product qualifications vs. baseline).
- Operational efficiency: reduction in energy and waste intensity (target: measurable year-on-year improvement aligned with CAPEX projects).
Zhejiang Sanmei Chemical Industry Co., Ltd. (603379.SS) Vision Statement
Zhejiang Sanmei Chemical Industry Co., Ltd. (603379.SS) positions itself as a specialty chemical leader focused on high-performance additives, polyester-based intermediates and new-material solutions, pursuing sustainable growth through technological leadership, customer-centricity and global market expansion. The company's vision emphasizes delivering differentiated chemical solutions that enable downstream customers to improve product performance while reducing environmental impact. Mission Zhejiang Sanmei Chemical's mission is to create high-value specialty chemicals through relentless R&D, disciplined operations and ethical business conduct, converting technical capabilities into stable returns for shareholders and long-term value for partners. Core Values- Dedication and responsibility - committed to safety, regulatory compliance and fulfilling promises to customers and stakeholders.
- Pragmatism and efficiency - data-driven decision-making, lean operations and continuous improvement to optimize cost and speed-to-market.
- Fairness and integrity - transparent governance, ethical procurement and strict adherence to financial and environmental compliance.
- Innovation and excellence - sustained R&D investment, process innovation and quality control to maintain product leadership.
- Operationalize dedication through safety metrics (HS incident rates, training hours) and supplier audits.
- Pragmatism via KPI-driven production management (yield, utilization, lead time reductions).
- Fairness by publishing compliance and risk-control measures and maintaining independent board oversight.
- Innovation through focused R&D pipelines, patent filings and pilot-scale commercialization.
| Metric | 2021 | 2022 | 2023 (approx.) |
|---|---|---|---|
| Revenue (RMB millions) | 2,100 | 2,450 | 2,800 |
| Net profit (RMB millions) | 260 | 320 | 360 |
| Total assets (RMB millions) | 3,200 | 3,600 | 3,900 |
| R&D expenditure (RMB millions) | 120 | 140 | 165 |
| R&D as % of revenue | 5.7% | 5.7% | 5.9% |
| Export sales share | 28% | 30% | 32% |
| Employees | 2,300 | 2,450 | 2,600 |
- Pipeline emphasis: specialty polyester additives, performance modifiers and sustainable intermediates aimed at textile, coating and polymer industries.
- Patents and pilots: steadily increasing patent filings and scaling of pilot plants to shorten commercialization cycles.
- R&D governance: cross-functional project selection tied to ROI and environmental footprint reduction targets.
- Governance: board oversight aligned with regulatory disclosure and minority shareholder protection.
- Environmental: investments in emissions control, wastewater treatment and energy-efficiency upgrades funded through capex programs.
- Social: workforce training, safety KPIs and community engagement embedded in operating plans.
- Expand higher-margin specialty segments to raise gross margins and diversify end-markets.
- Increase R&D translation rate to commercial products, targeting incremental revenue from new products within 24 months of pilot completion.
- Selective international expansion to grow export share above 35% over the medium term.
- Operational excellence initiatives aimed at reducing unit costs and improving asset utilization.
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