Wen'an, Jinghai [flame retardant] daylighting panel, daylighting tile - price

The company admitted in the prospectus that there are also risk factors such as customer concentration, uncollectible accounts receivable, related party transactions of participating companies, seasonal fluctuations in operating performance, etc. 　

According to the prospectus, the company's main customers include department stores, shopping malls, retail chains, etc. In 2013, 2014, 2015 and January June 2016, the top five customers accounted for 74.69%, 57.52%, 60.30% and 58.07% of the company's revenue respectively, but the overall trend was downward. During the reporting period, Wanda Real Estate, Longhu Real Estate, Watsons and Nike China were the main customers of the company. In 2013, 2014, 2015 and January June 2016, the company's sales revenue to Wanda Real Estate accounted for 42.85%, 31.43%, 30.67% and 32.10% respectively (including the Wanda Plaza project implemented by Xi'an West Wing as an integrator), and the sales concentration of leading customers was relatively high. If major clients such as Wanda Real Estate and Longhu Real Estate adjust their IT construction investment plans, procurement models or the company's products and services cannot meet their requirements, it may have a certain degree of adverse impact on the company's income and profitability. 　

Wen'an, Jinghai [flame-retardant] daylighting panel, daylighting tile price Wen'an, Jinghai [flame-retardant] daylighting panel, daylighting tile price Wen'an, Jinghai [flame-retardant] daylighting panel, daylighting tile price Wen'an, Jinghai [flame-retardant] daylighting panel, daylighting tile price

Sales of daylighting products: * * ****

The models of FRP daylighting panels for horticultural greenhouses are complete, and the price: raw materials of FRP daylighting panels
1. Reinforcing material
The reinforcement materials commonly used for FRP plate are glass cloth, non twist glass roving and chopped glass fiber mat.
The untwisted glass roving used in the continuous FRP corrugated forming process should have good cutting property, dispersibility, resin wettability, and no or little static electricity. 　
At present, the specifications of chopped glass fiber mats commonly used in China are EMC300, EMC450 and EMC600, which are characterized by uniform density, good permeability, * * *, weather resistance and light transmission
2 Resin matrix
Most of the continuous FRP corrugated board molding processes use unsaturated polyester resin (UP) resin, which has high mechanical strength, good weather resistance and impact resistance, as well as low shrinkage and proper viscosity, so as to have good impregnation and artillery performance for glass fiber.
3 Film
The film used for the forming of continuous FRP corrugated plate is required to have smooth surface and no wrinkles. The main thing is to have high tensile strength and certain heat resistance to ensure that the film will not deform during the forming of corrugated plate. According to the use of FRP corrugated plate, the film can be divided into process film and * * * film.
a. The monofluoroethylene film has good resistance to atmospheric and light aging, and can make the service life of corrugated plate up to 20 years.
b. Polyester film.
4. Other auxiliary materials

The auxiliary materials in the formula of resin used for FRP plate include initiator, accelerator, pigment lake and ultraviolet absorber. Now methyl ethyl peroxide is widely used, and the accelerator is cobalt isooctanoate solution, which makes the corrugated plate pure in color, especially the transmittance of transparent plate is more than 87%

In terms of accounts receivable, with the continuous expansion of business scale and the rapid growth of operating income, the Company's accounts receivable also grew rapidly. As of December 31, 2013, 2014 and 2015, the book balances of accounts receivable were 49747100 yuan, 78458100 yuan and 81.8598 million yuan, respectively, accounting for the operating income of each year Cases were 58.08%, 69.41% and 60.63% respectively. As of June 30, 2016, the book balance of the Company's accounts receivable was about 79898600 yuan, slightly lower than that at the end of 2015, but still at a relatively high level. With the expansion of the company's business scale, the accounts receivable may further increase. If the accounts receivable cannot be recovered on schedule or bad debts occur, it will have a direct negative impact on the company's profitability and may expose the company to the risk of shortage of working capital. 　

In terms of raised investment projects, the construction plan, implementation process and implementation effect of this * * * funded investment project may still increase uncertainty due to market acceptance, technical barriers, changes in investment costs, changes in customer demand and other factors. At the same time, at the initial stage of construction and operation of the * * * capital investment project, the performance may not be reflected, and the increase of depreciation, labor and other costs will have an adverse impact on the company's operating performance. In addition, the Company's net assets will increase to a certain extent after the issuance of * * * funds is in place. During the construction period, the projects invested with raised funds cannot make a greater contribution to the Company's profits, and the return on net assets of the Company may decrease in the short term.