1. In the near future, carbon fiber production capacity is loose, supply and demand pattern is unbalanced and other factors continue to intensify industry competition. In this context, relying on the completion of Zhongfu Shenying Shanghai Aviation prepreg project and the mature application foundation of multiple grades of high-performance carbon fiber in the aviation field, the company continues to promote the application verification and evaluation of carbon fiber and its composite materials in low-altitude scenarios such as EVTOL, low-altitude cargo drones, and low-altitude manned aircraft. At present, it has conducted test evaluation and test with several well-known domestic flying car (aircraft) development and production units such as Xiaopeng and Ehang, and the progress is smooth. At the same time, in addition to actively developing new applications for high-end products (including M series products, T1100 grade products, etc.), the company also actively promoted inventory pressure reduction in the second half of the year, as of the end of the third quarter of 2024, the company's inventory decreased slightly from the end of the second quarter.
2. What are the application areas where the current price pressure is relatively large? Mainly concentrated in wind power blades, carbon carbon composites and other more cost-sensitive downstream applications. At present, the cost of the company's Xining base has been leading the industry, so in the face of these downstream applications that are vulnerable to the price of carbon fiber, the supply and price are also more pressure.
3, based on the carbon fiber industry as a whole in recent years in the expansion of production, and individual areas of the downstream market there is also a stage of excess, demand and supply is still in the unbalanced stage of the case, the capacity of the entire carbon fiber industry is still relatively rich. However, the optimistic thing is that as the cost of carbon fiber declines, other emerging applications are also added downstream, and the overall demand for carbon fiber is still growing, of which the wind power field is expected to increase relatively significantly in 2025.
4, as of the end of the first three quarters, the company's new energy field (hydrogen energy, wind power, thermal field) sales accounted for 50%, sports and leisure sales accounted for about 30%, traffic construction sales accounted for more than 10%. 5, in recent years, with the increasing demand for carbon fiber in the domestic aerospace field, the company continues to accelerate the layout of high-end strategic areas such as aerospace applications, and actively promote the company's SYT49S (T700 class), SYT55S (T800 class), SYM40 (M40 class) and other products in important areas of mass use. In 2023, the company's sales in the aerospace sector accounted for more than 10%. At the same time, the Shenying Shanghai "carbon fiber aviation application research and development and manufacturing" project has been carrying out research on aviation prepreg process technology improvement, and actively cooperating with COMAC to carry out application research on large aircraft projects. In the future, the company will continue to support the development of the national aerospace field with high-quality products and excellent services. Source: Zhongfu Shenying, carbon fiber production technology collection and finishing