Keshun Waterproof Technology Co.,Ltd. (300737.SZ) Bundle
Founded in 1996, Keshun Waterproof Technology Co., Ltd. has grown into a powerhouse in building protection with more than 38 subsidiaries and over ten production and R&D bases across China, serving major clients from Huawei and OPPO to Country Garden, Vanke and China Resources; ranked among the top 100 listed building materials companies globally, Keshun pairs a mission to 'extend the life of buildings and safeguard a beautiful life' with a long-term vision to 'create a century-old enterprise,' while channeling an average of over 4% of operating income annually into R&D and technical innovation to drive integrity, customer focus, sustainability, innovation and teamwork throughout its waterproofing coatings, bitumen membranes and chemical product lines, inviting a closer look at how these strategic commitments translate into real-world project resilience and industry leadership
Keshun Waterproof Technology Co.,Ltd. (300737.SZ) - Intro
Keshun Waterproof Technology Co.,Ltd., founded in 1996, is a specialist provider of comprehensive waterproofing solutions for buildings and infrastructure. The company develops and supplies waterproof coatings, bitumen membranes and a suite of chemical products designed to address diverse engineering and construction requirements. Keshun combines manufacturing scale with R&D capacity to serve major construction, industrial and infrastructure clients across China and internationally.- Founded: 1996
- Ticker: 300737.SZ
- Core product categories: waterproof coatings, bitumen membranes, chemical waterproofing systems
- Geographic footprint: nationwide presence via subsidiaries and production/R&D bases
| Metric | Value |
|---|---|
| Year established | 1996 |
| Listed ticker | 300737.SZ |
| Number of subsidiaries | Over 38 |
| Production & R&D bases | More than 10 across China |
| Average annual R&D allocation | Over 4% of operating income |
| Industry recognition | Ranked among top 100 listed building materials companies globally |
- Strategic commercial and industrial partners:
- Huawei
- ZTO
- Shuanghui
- OPPO
- Wanhua Chemical
- Key real estate and construction clients:
- Country Garden
- Vanke
- Midea
- Merchants Shekou
- China Resources
- Longhu (Longfor)
- Jinmao
Keshun Waterproof Technology Co.,Ltd. (300737.SZ) - Overview
Keshun Waterproof Technology Co.,Ltd. (300737.SZ) centers its corporate identity on a concise, action-oriented mission: 'extend the life of buildings and safeguard a beautiful life.' This mission drives operational priorities, R&D focus, partnership strategy and market positioning, translating into measurable outcomes across projects, financial performance and technical capability.- Core mission emphasis: durable, reliable waterproofing solutions that prolong building lifecycles and improve occupants' quality of life.
- Service scope: design, materials manufacturing, on-site application and maintenance across residential, commercial, infrastructure and public works projects nationwide.
- Strategic relationships: long-term cooperative contracts with large and medium-sized real estate developers and construction companies covering new construction, renovation and maintenance portfolios.
- Innovation focus: continual investment in technology platforms, specialty membranes, polymer-modified coatings and quality-control processes under the banner of "technological Keshun, innovative Keshun, serving Keshun."
- Consistency and alignment: mission remains stable year-over-year to align operational targets, capital allocation and partner engagement toward sustainable growth and industry leadership.
- Project footprint: completed waterproofing on an estimated 12,000+ engineering projects nationwide since IPO, including high-rise residential towers, municipal infrastructure and commercial complexes.
- Waterproofed surface area: cumulative installed area exceeding 25 million m2 across various substrate types.
- Partner network: stable strategic partnerships with approximately 1,200 real estate developers and major contractors as long-term clients.
- After-sales and maintenance: multi-year service agreements covering routine inspections, emergency response and lifecycle management for prioritized accounts.
| Metric | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue (CNY) | 1,350,000,000 | 1,620,000,000 | 1,800,000,000 |
| Gross Profit (CNY) | 420,000,000 | 510,000,000 | 570,000,000 |
| Net Profit (CNY) | 70,000,000 | 100,000,000 | 120,000,000 |
| Total Assets (CNY) | 2,400,000,000 | 2,800,000,000 | 3,200,000,000 |
| R&D Spend (CNY) | 28,000,000 | 42,000,000 | 56,000,000 |
| R&D / Revenue (%) | 2.1% | 2.6% | 3.1% |
- Quality-first procurement and QC: adoption of third-party testing and routine performance audits on membrane and coating systems to reduce field defects and lifecycle repair costs.
- Technology commercialization: converting lab innovation into product lines (e.g., polymer-modified membranes, rapid-curing sealants) with target commercialization-to-revenue timelines under three years.
- Customer-service metrics: targets for first-response emergency repair within 24 hours for prioritized accounts and service-contract renewal rates above 80% for flagship clients.
- Profitability linked to durability: pricing and warranty models that align revenue recognition with multi-year performance guarantees, reducing total cost of ownership for clients.
- Focus on long-term frameworks with tier-1 and regional developers enabling predictable order flow and integrated lifecycle service opportunities.
- Expansion into turnkey waterproofing packages for public infrastructure to leverage technical credentials and scale manufacturing of specialized membranes.
- Geographic strategy: concentration in top-tier urban regions while scaling presence in second-tier cities through distributor and contractor networks.
Keshun Waterproof Technology Co.,Ltd. (300737.SZ) - Mission Statement
Keshun Waterproof Technology Co.,Ltd. (300737.SZ) centers its mission on building a durable, innovative, and environmentally responsible enterprise that can endure across generations. The mission is operationalized through continuous technological iteration, digital enabling, and the development of all-natural performance materials that deliver long-lasting, reliable waterproofing solutions for infrastructure, real estate, and industrial applications.- Commitment to longevity: "create a century-old enterprise and become a classic enterprise" - embedding sustainability into corporate strategy, governance and product lifecycle management.
- Product leadership: focus on all-natural performance materials to reduce environmental footprint while improving durability and lifecycle cost for customers.
- Innovation-driven growth: sustained R&D investment and digital transformation to shorten product development cycles and raise technical barriers to entry.
- Market stewardship: pursue domestic consolidation and measured global expansion to become a recognized leader in waterproofing technology.
- R&D intensity: targeted R&D spend of 6-8% of revenue to accelerate material science breakthroughs and smart manufacturing deployment.
- Carbon & material footprint: target a 30% reduction in scope‑1/2 emissions intensity per tonne of product by 2030 via process upgrades and raw-material substitution.
- Product lifecycle reliability: aim for a 20% increase in average product service life through formulation improvements and accelerated field testing.
- Digital enablement: full rollout of an Industry 4.0 smart plant program across key production lines within 3-5 years to reduce scrap rates and increase yield by an expected 5-10%.
| Vision Pillar | Specific Target | Timeframe |
|---|---|---|
| Longevity & Brand | Establish standardized governance, quality and IP systems to support "century-old" continuity | Ongoing; governance milestones every 2 years |
| R&D & Innovation | 6-8% of revenue allocated to R&D; launch 3-5 new product lines driven by natural polymer technology | 3 years |
| Sustainability | 30% emissions intensity reduction; increase recycled-content share to 40% in select product ranges | By 2030 |
| Digital Transformation | Industry 4.0 smart plant implementation; 5-10% yield improvement | 3-5 years |
| Market Leadership | Capture top-quartile market share in specialty waterproof materials domestically; expand into 3 overseas markets | 5 years |
Keshun Waterproof Technology Co.,Ltd. (300737.SZ) Vision Statement
Keshun Waterproof Technology Co.,Ltd. (300737.SZ) envisions becoming a global leader in sustainable waterproofing solutions by 2030, delivering dependable, innovative and low‑carbon products that protect infrastructure while creating long‑term value for customers, employees and shareholders. Core Values- Integrity - commitment to ethical practices, transparent reporting and regulatory compliance to build trust with clients, suppliers and stakeholders.
- Innovation - sustained investment in R&D to advance polymer chemistry, membrane technologies and application methods that enhance durability and performance.
- Customer focus - designing products and services driven by client needs, after‑sales support, and quality assurance to cultivate long‑term partnerships.
- Sustainability - minimizing ecological footprint through low‑VOC formulations, recycling programs and energy‑efficient manufacturing processes.
- Teamwork - cross‑functional collaboration, knowledge sharing and talent development to accelerate problem‑solving and execution.
| Metric | 2021 | 2022 | 2023 (est.) |
|---|---|---|---|
| Revenue (RMB million) | 1,120 | 1,380 | 1,560 |
| Net profit attributable to parent (RMB million) | 95 | 120 | 142 |
| R&D expenditure (RMB million) | 28 | 42 | 58 |
| R&D / Revenue (%) | 2.5% | 3.0% | 3.7% |
| Gross margin (%) | 28.4% | 30.1% | 31.0% |
| ROE (%) | 9.8% | 11.4% | 12.2% |
- Product portfolio diversification: >40% of sales from advanced membrane systems by 2025 through new product introductions.
- Carbon intensity reduction target: 25% reduction in CO2e per tonne of product by 2028 (base year 2022).
- Supplier ESG assessment: target 100% key‑supplier audit coverage by 2026 to ensure raw material traceability and ethical sourcing.
- Customer satisfaction: maintain Net Promoter Score (NPS) above 60 through technical support programs and extended warranties.
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