Chengdu Guibao Science & Technology Co.,Ltd.
300019.SZ · SHZ
Company research
Founded in 1998 and headquartered in Chengdu, China, Chengdu Guibao Science & Technology Co., Ltd. (300019.SZ) is a leading specialty chemicals company focused on the research, development, production, and sales of organic silicone sealants and other new materials, serving construction, automotive, new energy, and industrial sectors across China and internationally. The company offers a broad product portfolio including silicone sealants for curtain walls, insulating glass, windows and doors, solar modules, and automotive lighting, as well as hot melt adhesives, silane coupling agents, silicone rubber strips, and silicon-carbon anode materials. Listed on the Shenzhen Stock Exchange's Growth Enterprise Market in 2009, Guibao operates nine subsidiaries, six major production bases, and seven sales branches, with an annual silicone production capacity exceeding 250,000 tons, making it one of the largest silicone sealant manufacturers in Asia. With a market capitalization of approximately CNY 7.1 billion and a workforce of around 1,865 employees, the company has earned over 300 national and international patents and holds multiple certifications including ISO 9001, ISO 14001, and OHSAS 18001.
Research reports
Reviews 2025 results with revenue up 18.8% and net profit up 17.3%, emphasizing that building sealant remains the core business while industrial adhesives, hot‑melt adhesives and silicon‑carbon anode materials drive further growth. The report expects rising DMC prices to support product price increases, forecasts EPS of 0.82–1.00 yuan for 2026–2028, maintains an “outperform the market” rating, and flags raw‑material volatility, demand shortfalls and project execution risk.
Kaiyuan Securities Research Institute (开源证券研究所) · April 21, 2026硅宝科技（300019.SZ）工业胶、热熔胶营收高增，盈利能力短期承压Highlights that 2025 industrial adhesives and hot‑melt adhesives grew revenues 11.4% and 87.1% respectively, with strong volume growth, while Q1 2026 profit was temporarily pressured as silicone raw‑material prices rebounded faster than downstream price adjustments. The authors cut near‑term earnings forecasts but still project net profit of 353–506 million yuan for 2026–2028, see scale and high‑value‑added capacity expansion (including silicon‑carbon anodes) as key growth drivers, and note price, demand and policy risks.
Kaiyuan Securities Research Institute (开源证券研究所) · October 22, 2025硅宝科技（300019.SZ）Q3归母净利润同比高增，硅碳负极项目完工转固Analyzes 2025 Q3 results where revenue was roughly flat year‑on‑year but attributable net profit rose 32.2%, driven by margin improvement and contributions from industrial and hot‑melt adhesives. It emphasizes that the 50,000‑ton silicon‑carbon anode and special adhesive project has been completed and transferred to fixed assets, expects low DMC prices to keep supporting profitability, maintains a “buy” rating with EPS forecast of 0.87–1.28 yuan for 2025–2027, and cites raw‑material, demand and policy risks.
Tianfeng Securities Research Institute (天风证券研究所) · September 17, 2025硅宝科技（300019）热熔胶及工业胶业务快速增长，硅碳负极材料销量提升Reports that 2025H1 revenue grew 47.4% and net profit 51.6%, with hot‑melt adhesives (from the acquired Jiangsu Jihao) and industrial adhesives providing most of the incremental revenue and gross profit. The report notes silicon‑carbon anode material shipments ramping on 1,000‑ton pilot and 3,000‑ton production lines, ongoing build‑out of the 50,000‑ton silicon‑carbon and adhesive base, and forecasts net profit of about 310–505 million yuan for 2025–2027 while warning on macro, raw‑material, receivables and project‑execution risks.