Venous cannula is also a deep venous puncture catheter. The method is to select the appropriate puncture site and insert the needle under the skin, and insert the needle with negative pressure until the dark red blood is absorbed, indicating that the needle has entered the vein, and the guide wire is inserted. Withdraw the puncture needle to leave the guide wire in the blood vessel, and then insert the venous catheter that needs to be indwelled along the guide wire, then exit the guide wire, inject diluted heparin saline and fix the catheter, the deep venous catheterization is completed. The veins for puncture and catheterization are usually selected clinically, including the subclavian vein, internal jugular vein, and femoral vein. After the puncture catheter is indwelled, attention must be paid to the care of the puncture site to avoid infection with thrombus or catheter falling off. venous cannulation,best veins for cannulation,venous cannulation set,venous cannulation technique Yong Yue Medical Technology(Kunshan) Co.,Ltd , https://www.yonyuebio.com
91% of the revenue and gross profit of the Yellow River whirlwind comes from the diamond synthesis business.
The world's major synthetic diamond equipment
Development history of Chinese synthetic diamond press
1954 GE Synthetic World Class 1 Synthetic Diamond
The first synthetic diamond in China in 1963
In 1965, the first six-sided top press was completed 6×6MN
1966 produced 10,000 carats of synthetic diamond.
In 1986, the development of Anzhang 6×12MN press was successfully developed.
1997 6×13.5MN press
After 1998, 6×15MN--6×39MN presses were launched continuously
Rapid development of China's synthetic diamond industry
The continuous advancement of the technology, especially after 1998, the rapid expansion of production capacity, rapidly changing the world pattern of diamond products
The pattern of the world diamond industry
China becomes the center of the diamond industry
China's diamond production capacity accounts for 60-70% of the world's total, and monopolizes the low-end market.
– low pressure, low material costs and low manufacturing costs.
– Low labor costs. The artificial cost of artificial diamond in China accounts for about 10% of the total cost. And these costs are based on Henan and other artificial wages only 1,000 yuan and other places. The two companies with the strongest strength in the world, British and American companies, cost tens of times more for each worker.
China's materials and manufacturing technologies continue to mature, and presses, temperature control, and catalyst technology continue to advance. Leading Chinese companies have been able to synthesize all series of products. The market share in the high-end market is constantly increasing. Further compress the market space of foreign companies.
Under the circumstance of product quality, China's cost advantage will become increasingly apparent. We believe that China is integrating the global synthetic diamond industry. Industry-leading companies face significant development opportunities.
International industry giants are no longer
Technical advantage lays the leading position
Chairman's words
The current chairman of the board, Qiao Qiusheng, said that the company's development in the past 10 years has benefited from the success of independent research and development equipment. In order to maintain its leading position in the industry, he needs to continue to make great progress in technology. In order to attract outstanding talents to a small place like Henan Changge, the Yellow River Group has built expert apartments and expert villas in the factory. In 2004, Huanghe Industrial's R&D investment accounted for about 5.5% of total revenue, and in 2005 it reached 6.5%.
Technical advantages
The National Torch Program focuses on high-tech enterprises, the only national-level enterprise technology center in the industry, and a post-doctoral research station.
Strong research and development strength. There are 1,260 technicians with college education or above, 460 with intermediate titles, 72 masters, and 32 doctoral or senior titles.
“China Famous Brandâ€, the world's largest diamond synthesis enterprise. Comprehensive strength international third (after DI, ELEMENT 6). The company has a unique and internationally-connected diamond sorting system, which is a tool for the company to participate in international competition. (DI and element6) The company imposed a strict blockade on the technology.
In the past five years, it has implemented 32 national and provincial scientific research projects, won 8 scientific and technological progress awards, 76 patents, completed more than 100 new product developments, and stored 190 core enterprise-specific technologies. Annual investment in technological innovation has accounted for 5% of sales revenue, and new product sales have accounted for more than 30% of total sales.
The research and development capabilities in the frontier areas of large-grain synthetic diamond, super-hard composite materials, super-hard tools, etc., are at the forefront of domestic counterparts.
Leading the development of China's diamond industry
Diamond production process and technical points
Technological advancement enhances company profitability
Domestic production capacity has expanded rapidly in recent years, resulting in a rapid decline in product prices. The price of raw materials is rising rapidly. The company's substantial increase in revenue and profit comes from the company's technological advantage.
New technologies bring new opportunities
Large particle synthetic diamond project
The profitability of the project is higher than the current product – the 600mm cylinder press is the largest press in China, the volume of the synthesis chamber is greatly increased, the temperature is more stable, and the particle size, quality and quantity of synthetic diamond are greatly increased.
– Products fill the domestic gap and directly impact foreign high-end markets.
– The main production price of 30/40 single crystal is three times that of the current product.
Project Progress: The company's large particle synthetic diamond project is under implementation, equipment orders have been issued, and production is expected to start in the second quarter of 2007.
Superhard material composite sheet project
The Yellow River Cyclone has successfully synthesized high-performance geological oil drill bit composites and large-size PCD composite sheets on the six-face top press. The diameter of the large-diameter PCD reaches 41mm, the highest level in China. The largest foreign size is 101.6mm.
The overall quality of the domestically produced composite sheets is still not good, the products are single and the quality is unstable. At present, only PCD composite sheets with a diameter of less than Φ19mm are available for supply. Although the Φ25mmPCD composite sheets are reported, the market does not have a batch supply. Foreign composite film technology is highly confidential, and domestic long-term research investment is insufficient. The company's products have a large market impact.
The company will use the self-developed 31.5MN two-face press to synthesize PCD / PCBN composite. The company's goal is to produce Φ48mm, Φ42mm composite sheets using a two-face press.
Superhard cutting tool project
At present, most of the high-end tools on the production lines of domestic and foreign capital and joint ventures are imported. PCBN and PCBN billets are 60-70% dependent on imports.
The price difference between domestically produced and imported tools is several times to several tens of times, and the profit margin of imported substitute products is abundant.
The company has started small-scale production and has introduced a large number of equipment in the near future to gradually expand production scale.
Shield machines, oil drills and rotary tools are the entry points for the company's new products.
PCD/PCBN tool market prospects
The automotive industry offers a broad opportunity for the PCD/PCBN market, where 90% of the imported automotive assembly lines rely on imports.
Comparison of superhard materials and hard alloys
Super hard material tools market is broad
China has the world's largest machine tool, the world's fastest growing processing and manufacturing center, and China will become the world's largest and most promising market for superhard materials. The output value of Japanese superhard materials tools exceeded 7 billion yuan and continued to grow.
Investment Advice
Domestic diamond market structure
There are 49 diamond production companies in China.
Annual production capacity of the Yellow River cyclone is 1.2 billion carats
Second place 500 million carats
Third place 100 million carats
Other companies are less than 100 million carats
Synthetic diamond cost composition
Artificial diamond demand analysis
PCD/PCBN market demand forecast
The domestic market capacity of PCD/PCBN tools is 3.5 billion to 5 billion yuan, and the international market capacity is 2.5 billion US dollars.
China's automobile production lines are imported from abroad. When it is put into production, imported tools are used in various production lines. The localization rate of domestic engine industry tools is only 10%. The localization of tools in the automotive industry provides a broad market space for domestic companies.
PCD woodworking tool market, in 2001 the furniture industry output value of more than 130 billion yuan, 60,000 large and small furniture processing enterprises, China will become the world's woodworking machinery production base. The application of laminate flooring is becoming more and more extensive, and the demand for high-precision, long-life PCD tools will naturally increase rapidly.
The PCD/PCBN tool market is widely used in the printing and plate making industry, the electromechanical industry and the mechanical seals industry.
Basic assumptions of performance forecast
The diamond industry maintained a 15% growth, and the company as an industry leader fully enjoyed the opportunities brought about by the growth of the industry. In 2006, the newly added capacity of 1.2 carats, together with construction machinery and super-hard materials tools, increased revenue by 15%. The main growth in 2007 came from the growth of 600MM cylinder presses and technological transformation projects. In 2007, revenue increased by 38%.
Through technological advancement, the company's product grades have improved and its gross profit margin has gradually increased.
The three costs remain the same as in 2005.
Income tax rate is calculated at 33%
Performance forecast
Relative valuation
Calculate the company's future share capital according to the additional issuance plan of no more than 60 million shares, and integrate the relative valuation methods such as PE, PEG and PB. The reasonable stock price range is 6.50-10.61 yuan.
Absolute valuation
Risk factor
With the rapid expansion of the company, the company's talent pool, management capabilities to keep up with, the company's development of the future.
Technology is an important factor in the success of the diamond industry. Whether the company can always maintain its technological leadership is very important to the company's development.
Yellow River whirlwind business composition