证券代码：002108 证券简称：沧州明珠 沧州明珠塑料股份有限公司 投资者关系活动记录表 编号：【2015】001 | --- | --- | --- | --- | |----------------|-------------------------|-----------------------------------------|----------------------------------------------------------| | | | | | | 投资者关系活动 | | 特定对象调研 □分析师会议 | | | 类别 | □ | 媒体采访 □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | | □ 现场参观 | | | | | □ | 其他 （请文字说明其他活动内容） | | | 参与单位名称及 | | 上海朱雀股权投资管理股份有限公司 胡小骏 | | | 人员姓名 | | 长江证券股份有限公司 周阳、贾涛 | | | 时间 | 2015 年 01 月 7 | 日 9:30 | | | 地点 | 公司证券投资部 | | | | 上市公司接待 | | 证券事务 ...

Production Capacity - The current production capacity is 50 million square meters [2] - A new wet-process diaphragm project with a capacity of 25 million square meters is expected to start production in early next year [3] - An additional 60 million square meters diaphragm project is anticipated to be completed by 2017 [3] Sales and Market Demand - The expected sales volume for diaphragms in 2015 is 38 million square meters [3] - More than half of the diaphragm production is supplied to BYD [3] Profitability and Market Position - The current gross margin for diaphragms remains high due to strong market demand and the domestic diaphragm products being in a phase of replacing imports [4] - The second largest customer for the company's diaphragms is relatively small compared to BYD [4] Product Development and Future Focus - Both dry-process and wet-process diaphragms have different applications, with dry-process being more suitable for large batteries and wet-process for 3C electronic products [4] - The company sees potential for growth in lithium-ion battery diaphragm products, although they currently represent a smaller proportion of total products [4] Raw Material Management - Product prices will adjust according to fluctuations in raw material prices, and the company maintains a reasonable inventory to ensure normal production needs [5]

证券代码：002108 证券简称：沧州明珠 沧州明珠塑料股份有限公司 投资者关系活动记录表 编号：【2015】015 | --- | --- | --- | |----------------|-----------------------------|------------------------------------------------------| | | | | | 投资者关系活动 | | 特定对象调研 □分析师会议 | | 类别 | □ 媒体采访 □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 方正证券股份有限公司 徐行余 | | | 人员姓名 | | | | 时间 | 2015 年 10 月 29 | 日 9： 00 | | 地点 | 公司证券投资部 | | | 上市公司接待 | | 证券事务代表李繁联、证券事务主管梁芳 | | 人员姓名 | | | | 投资者关系活动 | 1 | 、公司干法隔膜目前是什么情况？ | | 主要内容介绍 | 公司目前有 5 | 条干法隔 ...

证券代码：002108 证券简称：沧州明珠 沧州明珠塑料股份有限公司 投资者关系活动记录表 编号：【2015】020 | --- | --- | --- | |-----------------------|-------------------------------|------------------------------------------------------------------| | | | | | 投资者关系活动 | | 特定对象调研 □分析师会议 | | 类别 | □ 媒体采访 □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 永丰金证券股份有限公司 张银成 | | | 人员姓名 | | | | 时间 | 2015 年 12 月 28 | 日 9： 30 | | | | | | 地点 | 公司证券投资部 | | | 上市公司接待 人员姓名 | | 证券事务代表李繁联、证券事务主管梁芳 | | 投资者关系活动 | 1、BOPA | 薄膜在我们的生活中能接触的到吗？ ...

证券代码：002108 证券简称：沧州明珠 沧州明珠塑料股份有限公司 投资者关系活动记录表 编号：【2015】012 | --- | --- | --- | |----------------|-----------------------------|----------------------------------------------------| | | | | | 投资者关系活动 | | 特定对象调研 □分析师会议 | | 类别 | □ 媒体采访 □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 常州投资集团有限公司 李元杰 | | | 人员姓名 | | | | 时间 | 2015 年 09 月 16 | 日 09:30 | | 地点 | 公司证券投资部 | | | 上市公司接待 | | 证券事务代表李繁联、证券事务主管梁芳 | | 人员姓名 | | | | 投资者关系活动 | 1 | 、公司目前隔膜产品的产能是多少？ | | 主要内容介绍 | 目前产能 5000 | 万平米 ...

Group 1: Pipeline Products - The company's pipeline products are primarily used in infrastructure construction, with gas pipes mainly applied in natural gas pipeline networks [2][3] - Gas pipelines account for approximately 80% of the company's pipeline product sales, while water supply pipes make up 20% [3] - The company has increased its sales efforts for water supply pipes since 2012, leading to a gradual rise in their sales proportion [3] - The expected sales volume of pipeline products for 2015 is 105,000 tons [3] Group 2: Product Standards and Seasonal Trends - Production of gas pipes requires special equipment production licenses due to safety concerns, while water supply pipes need health permits [3] - The first quarter is typically a low season for pipeline products due to weather conditions and the Chinese New Year, while the second half of the year sees higher sales for BOPA films [4] Group 3: BOPA Films and Membrane Products - BOPA films are known for their excellent preservation and aroma retention properties, widely used in food packaging and various industrial applications [4] - The company plans to produce 38 million square meters of dry-process membranes in 2015, with a current price of approximately 5 yuan per square meter [5][6] - The target production for wet-process membranes is expected to reach mass production by the second half of the following year [6] Group 4: Market Position and Future Plans - The company aims to enter high-end markets and mainstream supply chains with its wet-process membranes [7] - The company maintains a reasonable inventory level, typically ensuring a one-month supply of raw materials [9] - The company is open to mergers and acquisitions to leverage synergies and enhance profit growth, considering factors like technology and marketing networks in potential targets [10]

证券代码：002108 证券简称：沧州明珠 沧州明珠塑料股份有限公司 投资者关系活动记录表 编号：【2015】007 | --- | --- | --- | --- | --- | |----------------|---------------------------|-------|--------------------------------------------|------------------------------------------------------------------| | | | | | | | 投资者关系活动 | | | 特定对象调研 □分析师会议 | | | 类别 | □ 媒体采访 □业绩说明会 | | | | | | □新闻发布会 □路演活动 | | | | | | □ 现场参观 | | | | | | □ | | 其他 （请文字说明其他活动内容） | | | 参与单位名称及 | 中国国际金融有限公司 方巍 | | | | | 人员姓名 | 敦和资产管理有限公司 李博 | | | | | 时间 | 2015 年 06 月 10 | | 9:00 | | | 地点 ...

证券代码：002108 证券简称：沧州明珠 沧州明珠塑料股份有限公司 投资者关系活动记录表 编号：【2016】009 | --- | --- | --- | |----------------|-------------------------------|-----------------------------------------------------| | | | | | 投资者关系活动 | | 特定对象调研 □分析师会议 | | 类别 | □ | 媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及 | | 信达证券股份有限公司 葛韶峰、李皓 | | 人员姓名 | | 宁波磐石投资管理有限公司 邵长超、徐成明 | | | 兴业证券资产管理有限公司 刘刚 | | | | | 安邦基金管理有限公司（筹） 刘晓彬 | | | | 盛世景资产管理股份有限公司 王柏方、付曙光 | | | | 中银国际证券有限责任公司 马太、吴尹、邓天娇、王秋明 | | 时间 | 2016 年 07 月 ...

Production Capacity and Sales - The company plans to launch a wet-process diaphragm project with an annual production capacity of 60 million square meters by the end of this year or early next year [2] - The estimated sales volume for dry-process diaphragms this year is 65 million square meters, up from 44 million square meters in 2015 [3][4] - The total expected sales volume for diaphragms this year is 90 million square meters [5] Market Trends and Pricing - Future prices of diaphragms are expected to decline, but the extent of the decrease is uncertain and will depend on market conditions [3] - The profitability of BOPA film products has improved due to a decrease in raw material prices without a corresponding drop in sales prices, influenced by market demand [5] Technology and Production Challenges - The company relies on self-developed technology for wet-process diaphragm production, emphasizing the importance of mastering both technology and production processes to ensure product quality [4][6] - The wet-process diaphragm project with a capacity of 105 million is expected to be completed by early 2018 [4] Customer Base and Market Position - Over half of the company's diaphragm production is supplied to BYD [4] - The company aims to position its wet-process diaphragm products within the high-end supply chain in both domestic and international markets [7] - There are currently about 8 manufacturers producing BOPA film products in China, with a total capacity of approximately 100,000 tons [6]

Group 1: Sales and Production Estimates - The company expects to sell approximately 25 million square meters of wet-process separators this year [5] - The total estimated production and sales for 2016 is 90 million square meters, including 25 million square meters of wet-process separators and 65 million square meters of dry-process separators [5] - The company aims to achieve a total production and sales target of 9.5 million tons for pipeline products and 3.3 million tons for BOPA films in 2016 [13] Group 2: Market Competition and Trends - There are many domestic producers of wet-process lithium-ion battery separators, but few have entered the mainstream supply chain, with more competition expected in the mid-to-low-end products [5] - The gross margin for separators is expected to decline in the long term due to rapid development in the new energy industry and adjustments in national subsidy policies [5] - The import ratio of wet-process separators is over 50%, while the import ratio for dry-process separators is lower [8] Group 3: Product Technology and Quality - The company utilizes a wet-process synchronous stretching technology similar to that of Asahi Kasei, which reduces human error and improves product consistency compared to dry-process separators [6] - The yield rate for dry-process separators is approximately over 40%, with limited potential for improvement due to the non-continuous nature of the production process [7] - The company has mastered ceramic coating technology and is continuously improving its processes to enhance product quality [9] Group 4: Raw Materials and Pricing - The raw materials for BOPA films account for over 80% of the production cost, with the main raw material being PA6 nylon slices [11] - The price of BOPA films is influenced by raw material costs, with agreements in place to adjust selling prices based on significant price fluctuations [11] - The company maintains a one-month inventory of raw materials to meet normal production needs [12] Group 5: Client Relationships and Market Position - BYD is one of the company's major clients for wet-process separators, and many large domestic battery manufacturers are in the certification process [8] - The company is currently in a leading position in the domestic market for BOPA films, which are used in packaging for food, electronics, and cosmetics [10] - The company has not identified suitable acquisition targets in the separator market, as it is already competitive in technology and processes [8]