I. Overview of the incident A few days ago, we conducted a field survey of Sifangda and visited the management of the company. Through investigation, we believe that the company's main products, drawing die and composite sheet products, are relatively certain in the future development. Currently, it is in the process of replacing imported and replacing hard alloys, and has a large development space. Second, analysis and judgment The company is one of the world's best manufacturers of wire drawing molds. Sifangda is a polycrystalline product. The main products are petroleum, mining composite sheets, knives, wire drawing dies, petroleum composite sheets and knives are one of the best in China. One of the best three in the world of wire drawing dies, it is now possible to produce composite sheets of 50mm or more. Oil and tools are the main directions, and the future will depend on the picks and the downstream extension of the cutters. At present, the company is working on two changes, one is to upgrade new products, and the other is to manage more systematically. The price of diamond single crystals has dropped, and prices will still fall slightly in the short term. The price of the upstream diamond single crystal products of the company declined in the second half of the year. The price of high-end diamonds was about 0.45-0.5 yuan/carat, down about 10% from the first half of the year, mainly due to capacity expansion and slowdown in downstream demand. At present, downstream demand has begun to shrink, foreign demand has slowed down, and the real estate market is closely linked, and the photovoltaic industry is also overcapacity. It is expected that the price of diamond single crystal will still fall slightly. In view of the fact that the production and sales of diamond products and prices are relatively lagging behind the economic cycle for about 6 months, it is expected that there will be signs of recovery in the downstream after the second half of next year. The two alternative processes are carried out simultaneously: the alternative import & replacement carbide diamond industry is currently undergoing two alternatives. Due to the absolute price advantage, the price of domestic diamond products is only 1/2 to 1/3 of that of foreign products. The trend of imports is clearer. In addition, due to the extremely high hardness of diamond materials, cemented carbides are currently being replaced in some areas. In the development of the entire diamond industry, the process of import substitution is expected to last for 5-8 years, and the cemented carbide replacement process may be longer due to factors such as price and process. The development potential of oil tablets is huge, and the scale of downstream extension industry is obviously obvious. The company's petroleum composite sheet products have large profit margins and belong to high-end products in composite materials. Currently, it is in the product promotion period. It takes a certain time for domestic and international market development. We expect the future one. There may be new orders in the year, which will bring profit growth to the company and there is huge room for development. In addition, the company's two over-raised projects will extend the company's industrial chain and involve a wider market space. III. Earnings Forecast and Investment Proposal The company's main products, drawing die and composite sheet products, are relatively well-defined in the future. Currently, they are in the process of replacing imported and substitute hard alloys. The development space is large, but the current downstream demand is affected by economic downturn. Impact, the company was given the “cautious recommendation†rating for the first time. The EPS for 2011-2013 is expected to be 0.47, 0.61 and 0.86 respectively, corresponding to the current share price PE of 50.91, 39.22 and 27.70 times respectively. IV. Risk Warning Downstream demand is rapidly declining; real estate investment is slowing down; new customers are developing slowly.
Hook And Loop Backing Pad
Polishing Pads are use with
Fibre Discs, PSA Discs and Discs,stone polishing pad,wool pad,etc.Backing pads
are Widely used in grinding and polishing artificial stone, furniture and wood
products, metals, cars and other items.Sanding
disc backing pads are used beneath sanding discs to provide cushioning for
contoured work and to provide the attachment surface for hook and loop or quick
change discs. Pads may be solid or contain hole patterns to match sanding disc
vacuum holes. Choose from soft to firm density depending on the degree of
flexibility desired.
We distributes and wholesales various brands of Bonded Abrasives , Abrasive Sanding Disc, Cutting Wheels , Flap Wheels , Flap Disc Backing Pad, Flap Disc Adhesive , and Surface Conditioning Product etc, and enjoy a high position among consumers.
Excellent balance: the balance is important when polishing. The
reinforced inner structure keeps the plate stable and smooth. High-quality
material and advanced production technology ensure the pad balance.
Resistance to heat, and reducing heat transfer to the paint
surface.
The better balanced a backing pad is, the less fatigue you feel
when polishing or waxing car.
The Velcro backing has extra gripping power and it is strong.
works well and has not shown any sign of wear after about 50
hours of use
Hook And Loop Backing Pad,DA sander pad,Sander Backing Pad,Velcro Backing Pad,Hook And Loop Polishing Backing Pads
Zhengzhou Jiading Abrasive Manufacturing Co.,Ltd , https://www.abrasive-jd.com