The company's main products include high-performance alloy materials such as cast superalloys, wrought superalloys, and special stainless steels and their products, which are mainly used in military and high-end civilian fields including aero engines, gas turbines, and nuclear power equipment.
JSTN Superalloy Technology Group is mainly engaged in the research and development, production and sales of high-performance alloy materials and products such as high-temperature alloys, precision alloys, and special stainless steels. Products are widely used in military and high-end civilian fields such as aero engines, gas turbines, and nuclear power equipment. Since its establishment, the company has always insisted on adapting to the market with the product characteristics of "professional, refined, and special", opened up the market with differentiated competition and technical services, accumulated high-quality customer resources in the continuous development and growth, and built a high-quality moat. Developed into a leading company in domestic high-temperature alloy products.
As a well-known enterprise in China's superalloy industry, JSTN is one of the main manufacturers of high-temperature alloy products in China, an important supplier of large and complex thin-walled superalloy structural parts for domestic aero engines, and domestic superalloys and special stainless steels for aircraft and aero engines. The main supplier of seamless pipes.
Steady performance development, strong customer stickiness
Since its establishment in 1991, JSTN has always been paying attention to the development trend of the industry and looking for new breakthroughs. Through independent research and development and technological innovation, the company maintains a leading advantage in the superalloy market; in 2007, the company successfully obtained the military industry access qualification. The company has advanced equipment for special smelting, precision casting, and pipe making. It has established a full-industrial chain production process covering special smelting, forging, hot rolling, rolling and casting, and can independently produce high-temperature alloys, precision alloys, and special stainless steels. High-performance special alloy materials, as one of the few domestic high-tech enterprises that can simultaneously mass-produce deformed superalloys and cast superalloys (master alloys, precision castings) products, the main products are in military and high-end civilian fields such as aviation engines, gas turbines, and nuclear power equipment. Both have broad application prospects.
In the military and high-end civilian fields, it has accumulated a wealth of high-quality customer resources. In the field of military products, the company has established a long-term and stable cooperative relationship with the major domestic aero engine manufacturers Group A, Group B and many of its subsidiaries, and has become its outstanding supplier for many years. In the field of high-end civilian products, the company has been selected by Shanghai Electric The list of qualified suppliers of large domestic enterprises such as the Steam Turbine Plant of Power Station Equipment Co., Ltd. and Shanghai Electric Nuclear Power Group Shanghai No. 1 Machine Tool Plant, and they have maintained a good cooperative relationship. In addition, the company's major downstream customers have a dominant market position in their industries, and product demand is stable and predictable, which provides a reliable guarantee for the company's subsequent business development. In the process of long-term cooperation with downstream high-quality customers, the company continuously improves product quality and optimizes product structure according to the comprehensive and strict professional technical standards set by customers, and on this basis, actively invests in the research and development of cutting-edge technology in the industry and the improvement of process equipment , At the same time, participate in the development of customers' new technologies, and then form a virtuous circle.
Attach importance to R&D and innovation, and have abundant core technology reserves
As one of China's major R&D and manufacturing companies for high-performance alloy materials and their products, continuous innovation has become the fundamental guarantee for JSTN to grow rapidly and maintain its leading position in the industry. The company controls and owns the production of ultra-pure superalloy materials, precision castings, superalloy and special stainless steel seamless pipes and special wires through independent innovation, industry-university-research cooperative innovation, introduction, digestion and re-innovation in accordance with international leading enterprise manufacturing and testing standards. The core technologies such as materials, and all technologies have been verified in the mass production process and are in a mature stage.
Specifically, the company's main product core technologies include ultra-pure superalloy smelting technology, organization uniformity control technology, and near-net investment precision casting technology. Among them, in terms of ultra-pure superalloy smelting technology, the company uses this technology to prepare superalloys with S and O contents less than 10ppm, which is at the advanced level in the domestic industry. At the same time, the high-temperature alloys prepared by the company have formed a batch production supply capacity for more than 30 types of alloy materials and casting products such as K4648, K424, K4169, K403 and other cast high-temperature alloy series and deformed high-temperature alloy series; in terms of organization uniformity control technology , The company not only realized the stable manufacturing and production of Nimonic80A homogenized and uniformly structured bars, and was applied to high-performance marine diesel engine valves, but also realized the homogenization and uniform organization of Inconel690 and Inconel600 alloys for heat transfer tubes of nuclear power evaporators. For bar manufacturing, it is the first in China to complete the localized manufacturing of high-quality heat transfer tube blanks, which provides a reliable material basis for improving the uniformity of heat transfer tubes, the consistency of mechanical properties, the stability of batch manufacturing, and the yield; Net investment precision casting technology overcomes the shortcomings of uneven structure and unstable performance of casting materials caused by centrifugal casting technology adopted by other domestic companies. Through the successful application of large complex thin-walled casting precision casting technology system, the company takes the lead in China Realize the mass production of large high-temperature alloy precision castings with a diameter greater than 1000mm and a wall thickness less than 2mm.
Core technology is the foundation of the company's core products, and core products are the key to the company's core competitiveness. Specifically, the company's core technology products are deformed superalloys, cast superalloys, and special stainless steel seamless pipes. The prospectus shows that from 2017 to 2019, the company’s core technology products accounted for 78.84%, 81.76%, and 84.71% of the current operating income, respectively. In addition, in order to maintain competitiveness in the market, the company continued to increase R&D investment, the report During the period, the company's R&D investment increased year by year, and R&D expenses were as high as 14.961 million yuan, 16.0509 million yuan, and 24.84 million yuan, accounting for 4.34%, 3.7%, and 5.13% of each period's revenue, respectively.
It is worth mentioning that JSTN has so far obtained 34 domestic invention patents and 1 utility model patent, and the related scientific research results are rich and have won many awards. Since 2008, the company has been recognized as a high-tech enterprise by the Provincial Department of Science and Technology, and has been awarded the establishment of "National Postdoctoral Research Workstation", "Provincial Superalloy Engineering Technology Research Center", "Provincial Enterprise Academician Workstation", etc. 2 sub-projects of the national "973 Plan" and 1 sub-project of the "863 Plan" have been completed, and as the project undertaker, they have completed a number of national and provincial major scientific and technological plans such as the national international scientific and technological cooperation special project and the transformation of major provincial scientific and technological achievements project.
Focus on development strategy, raise funds to open up growth space
The funds raised by JSTN's recent public offering of shares are all carried out around the main business and core technology, and the investment projects are in line with the national industrial policy and company development strategy. Among them, 183 million yuan of raised funds is planned to be invested in the construction project of 1,000 tons of ultra-pure high-performance superalloy materials per year; 258 million yuan is planned to be used for the construction of 3,300 complex thin-walled superalloy structural parts per year; 35.635 million yuan is planned to be invested in research and development Center construction project;
Specifically, the construction and implementation of the "1000 tons of ultra-pure and high-performance superalloy materials construction project" can guarantee the batch production demand and delivery schedule of a variety of products, effectively improve my country's superalloy manufacturing level, and greatly improve. China’s independent support capabilities for strategic materials will further enhance the company’s core competitiveness and accelerate its leapfrog development; "Construction project with an annual output of 3,300 complex thin-walled superalloy structural parts" will help improve the market competition of China’s key components of aero-engines It provides strong technical support for the development of China’s high-performance aero-engines, thereby promoting the development of China’s aviation industry, and playing a positive role in the construction of the national economy; the "R&D Center Construction Project" program focuses on "aerospace ultra-pure nickel-based superalloys "Vacuum Melting Technology", "Investment Precision Casting New Materials and New Process Development", "High Temperature Alloy Rods and Wires for Fasteners Import Substitution Project" and "Selective Laser Melting Molding Technology Research and Development" and other research and development directions, through the purchase of advanced The company’s R&D equipment, testing equipment and professional software, the introduction of high-quality R&D technical personnel, conduct research and development in multiple cutting-edge directions, consolidate the company’s technological R&D advantages, and enhance the company’s core competitiveness; “repay bank loans and supplement working capital projects” combined The company's current business development and financial status can effectively guarantee the company's sustainable and healthy development.