For the price adjustment, Jin Litai said: the company will closely track the price trend and supply and demand changes of chemical raw materials and cathodic electrophoretic paint, and timely adjust the price of cathodic electrophoretic paint products.

Qu paint (Qu tu.com) noted that Jin Litai also raised the price of the company's cathodic electrophoretic paint two months ago.

On August 18, 2021, jinlitai announced that affected by the rising price of chemical raw materials and other factors, after jinlitai's research and careful consideration, it decided to increase the price of various types of cathodic electrophoretic paint products by 10% - 20% from September 1, 2021, which shall be subject to the official quotation of the company.

　

　At that time, once the price increase letter was announced, jinlitai's share price soared by nearly 12%.

　

　　According to the data of qutu coating (qutu.com), jinlitai is a coating R & D, production and sales enterprise focusing on automotive coatings. The company's main products are cathodic electrophoretic coatings, topcoats and ceramic coatings.

The performance forecast for the first three quarters of 2021 shows that Jin Litai's net profit attributable to the shareholders of the listed company is expected to lose 55.7686 million yuan to 62.7686 million yuan from January 1, 2021 to September 30, 2021. In the third quarter alone, the net profit attributable to the shareholders of the listed company lost 38 million yuan to 45 million yuan.

　　

　　As for the reasons for performance changes, Jin Litai said: on the one hand, in the third quarter of 2021, due to the impact of the switching of national six emission regulations from July 1 this year, the production and sales of commercial vehicles decreased by 33.2% and 30.2% respectively in July, 46.2% and 42.8% respectively in August, and 35.2% and 33.6% respectively in September. There were great fluctuations in market demand, Production and sales decreased significantly year-on-year, which had an adverse impact on jinlitai's operating performance in the third quarter.

On the other hand, from January to September 2021, affected by the continuous rise in the price of global chemical raw materials, the purchase amount of jinlitai raw materials increased by about 120 million yuan over the same period of last year, resulting in a significant increase in jinlitai's operating cost year-on-year, which is the main reason for the loss in the first three quarters.

According to qutu.com, the main raw materials of cathodic electrophoretic paint are epoxy resin, bisphenol A, ethylene glycol butyl ether and butyl acetate.

From January to September 2021, the average market price of epoxy resin was 31.56 yuan / kg, an increase of 67.96% compared with 18.79 yuan / kg in the same period last year. Among them, the average price of epoxy resin in the third quarter of this year was 33.56 yuan / kg, an increase of 84.90% over the same period of last year.

From January to September 2021, the average market price of bisphenol A was 23.99 yuan / kg, an increase of 133.82% compared with the average market price of 10.26 yuan / kg in the same period last year. Among them, the average price of bisphenol A in the third quarter of this year was 25.88 yuan / kg, an increase of 144.15% over the same period of last year.

From January to September 2021, the average market price of ethylene glycol butyl ether was 17.23 yuan / kg, an increase of 131.90% compared with the average market price of 7.43 yuan / kg in the same period last year. Among them, the average price of ethylene glycol butyl ether in the third quarter of this year was 20.27 yuan / kg, an increase of 164.97% over the same period of last year.

From January to September 2021, the average market price of butyl acetate was 12.79 yuan / kg, an increase of 128.39% compared with the average market price of 5.60 yuan / kg in the same period last year. Among them, the average price of butyl acetate in the third quarter of this year was 13.69 yuan / kg, an increase of 141.02% over the same period of last year.

　　

　　In the face of the company's performance losses, Jin Litai not only took measures to increase the product price, but also firmly explored the original coating market of passenger cars.

On August 19, 2021, Jin Litai held a president's office meeting and decided to use its own capital of 50 million yuan to establish a wholly-owned subsidiary to carry out the original coating business of passenger cars. Through the readjustment of organizational structure and personnel allocation and the collaborative empowerment of the parent company, relying on a variety of convenient and effective incentives of listed companies, Jin Litai vigorously developed the original coating market of passenger cars, Develop the original paint product system of passenger cars that meets the requirements of mainstream passenger car main engine manufacturers, form a good linkage effect with jinlitai's existing product system, and add new profit growth points for the company's future development.

It is worth mentioning that not only Jin Litai, but also a number of coating enterprises recently issued price increase letters due to cost and other reasons.

October 18, 2021, Shanghai Baolijia New Material Co., Ltd. (hereinafter referred to as Baolijia) issued a price increase letter, saying that it has been "double controlled" by the national energy consumption recently Policy impact, acrylic acid emulsion used in the production of all kinds of raw materials due to shortage of supply, prices skyrocketed, resulting in a substantial increase in the company's product cost. Based on the principle of mutual benefit and common development, the company has studied and decided. Raise the price of building materials and waterproof products to varying degrees. Implement the policy of "one single discussion". The adjusted price shall be implemented from now on. Please communicate the specific price to the regional head of the company.

　　

　In October 16, 2021, Jiangsu bads Technology Development Co., Ltd. issued a letter of price increase. It was announced that the prices of raw materials and raw and auxiliary materials of acrylic emulsion were all in a super high position and continued to rise sharply. According to the prediction of professional market institutions, the price of raw materials will continue to operate at a high level during the period and maintain a high expectation of rise.

In order to balance the pressure of material cost and continue to provide customers with better service, it is decided through research that the price of the company's product line will be adjusted as follows:

General benzoic acid: the price is increased by 400-500 yuan / ton;

Real stone paint: the price will be increased by 400-500 yuan / ton

Waterproof / elastic: the price is increased by 400-500 yuan / ton;

High grade pure class C: the price is increased by 500-600 yuan / ton;

Vinegar C / vinegar tertiary: the price will be increased by 1500-1600 yuan / ton

　　

In October 18, 2021, the New Technology Department of Wanhua chemical group, Limited by Share Ltd, issued a letter of price increase, saying that the price of building waterborne acrylic emulsion increased by 300-500 yuan / ton.

　　

On October 18, 2021, Cangzhou Bohai New Area mutual benefit Chemical Co., Ltd. issued a price increase letter, saying that the price of general-purpose benzene C: increased by 400-500 yuan / ton; Genuine stone paint: the price will be increased by 400-500 yuan / ton; Waterproof / elastic: the price is increased by 400-500 yuan / ton; High grade pure class C: the price will be increased by 500-600 yuan / ton.

　　

Summary:

At present, all kinds of raw materials still maintain an upward trend. Coating enterprises predict that they will continue to be high in the fourth quarter. There is a tight supply situation in the coating market. It is suggested to make inventory reserves in advance.

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