21智讯1月16日电，泰和新材在投资者关系活动中表示，芳纶隔膜项目已于2025年启动大线试生产，目 前已有部分订单交付，在小动力电池、充电宝、半固态电池等特殊应用领域获得较高认可度。公司正重 点提升产品交付能力，新生产线尚未满产，后续将根据市场需求推进产能爬坡。 ...

每经AI快讯，泰和新材发布公告称，2026年1月16日，泰和新材接受上银基金等投资者调研，公司董事 会秘书董旭海、董事会办公室人员参与接待，并回答了投资者提出的问题。 每经头条（nbdtoutiao）——白银50天涨逾80%，疯狂程度远超黄金，历史上爆炒白银往往预示贵金属 牛市已到高潮，这次有何不同？ （记者 贾运可） ...

投资者关系活动记录表 证券代码：002254 证券简称：泰和新材 泰和新材集团股份有限公司 投资者关系活动记录表 编号：2026-038-042 投资者关系活动 类别 √特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 参与单位名称及 人员姓名 上银基金 李星仪 长江证券 魏邈 光大保德信基金 岳子瞳 盈游天下投资 李子轩 国海证券 陈云 时间 2026 年 1 月 16 日 地点 公司会议室 上市公司接待人 员 董事会秘书董旭海、董事会办公室人员 投资者关系活动 主要内容介绍 投资者：芳纶现在的价格比较稳定？ 答：现在是比较低的位置。短期来看还看不到往上走的迹象； 往下的话，大家现在卷成这样，再往下空间也不大。 投资者：间位和对位的价格？ 答：对位略高，间位低一些。 投资者：芳纶的量有增长吗？ 答：稍微有些增长。 投资者：芳纶的增长主要是哪块贡献的？ 答：如果看应用领域，像纤维的应用领域，增幅看着很强劲 的不多，主要是芳纶纸的下游。 投资者：芳纶纸的下游主要？ 1 投资者关系活动记录表 | 答：绝缘领域像变压器，包括新能源的电机，这块增幅比较 | | --- ...

Group 1: Company Overview - The company operates four business divisions, starting with spandex, which was first produced in 1989, making it the first domestic producer of spandex in China [2][3] - The company has developed various products, including meta-aramid and para-aramid fibers, with the former launched in 2004 and the latter in 2011, establishing itself as the first domestic producer of these products [2][3] Group 2: Product Applications - Spandex is primarily used in textiles and apparel, while meta-aramid is known for its flame retardant, high-temperature resistance, and insulation properties [3] - Para-aramid is utilized in high-strength applications such as optical cables and protective gear, including firefighting suits and industrial protective clothing [3] Group 3: Business Development and Innovations - The company is enhancing its chemical sector by supplying raw materials for aramid production, with projects for aniline and acyl chloride currently in the design phase [3] - Innovations in advanced textiles include green dyeing, digital printing, and fabric recycling to strengthen ties with downstream customers [3] Group 4: Financial Performance and Challenges - The spandex sector has faced profitability challenges, but recent improvements in quality and pricing have been noted, with a focus on technical upgrades to enhance efficiency [4] - The company aims to improve accounts receivable management, which has seen rapid growth, and plans to focus on this area in 2025 [5] Group 5: International Expansion - Overseas revenue accounts for over 20% of total income, with plans for internationalization including localizing sales and hiring local staff in key markets [5][6] - The company is considering investments to gradually expand its international presence, focusing on proximity to end-users [5] Group 6: Subsidiary Performance - Two key subsidiaries, focusing on aramid paper and deep processing, are performing well, with a management style based on delegation [6] - The aramid paper is used in electrical insulation and aerospace applications, while the other subsidiary produces aramid pulp and woven fabrics [6] Group 7: ESG and Future Outlook - The company adheres to national laws regarding safety, environmental protection, and labor practices, promoting products that align with social development goals [6] - There is a possibility of acquiring upstream or downstream enterprises to enhance business synergy [6]

泰和新材（002254.SZ）1月16日在投资者互动平台表示，公司POD导热膜产品技术为自主开发，并已获 得相关专利授权，不存在侵权风险；公司已通过技术优化有效控制掉粉问题，目前实测产品掉粉量稳定 控制在要求以内。公司持续推进技术迭代，后续将进一步提升产品性能稳定性。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：据了解，华为2023年申请pod导热膜专业，并且POD 薄 膜碳化、石墨化时易 "掉粉"（鳞屑状碎片脱落），导致晶体结构缺陷、导热性能受限，还会污染电子 元件、影响操作环境与人员健康。请问贵司pod导热膜是否存在侵犯华为专利风险？掉粉问题是否解 决？ ...

投资者关系活动记录表 证券代码：002254 证券简称：泰和新材 泰和新材集团股份有限公司 投资者关系活动记录表 编号：2026-019-029 投资者关系活动 类别 √特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 参与单位名称及 人员姓名 万家基金 李杨、况晓、叶勇 万家基金 汪洋、张希晨、刘洋 万家基金 雷寅嘉 长江证券 王呈、徐静、杨龙 国泰海通证券 沈唯 时间 2026 年 1 月 13 日 地点 公司会议室 上市公司接待人 员 董事会秘书董旭海、董事会办公室人员 投资者关系活动 主要内容介绍 投资者：简单介绍下公司情况？ 答：最开始我们是做氨纶，1989 年投产；后来开始做芳纶， 间位芳纶是 2004 年投产，芳纶纸是 2007 年，对位芳纶是 2011 年。间位主要特点是阻燃、耐高温、绝缘，阻燃方向是做防 护服，耐高温主要是用在高温除尘，绝缘主要是做成芳纶纸， 用在变压器、电机的绝缘上，也可以用在航空领域，做次受 力件。对位主要特点是高强、高模，高强主要是用来取代钢 材，高模主要是用在光缆。 投资者：芳纶除了间位和对位还有别的吗？ 答：下游，一 ...

Group 1: Product Overview - The company produces two types of aramid fibers: meta-aramid and para-aramid, with applications in flame retardant clothing, high-temperature filters, and insulation materials [2][3] - Current production capacity for both types of aramid fibers is 16,000 tons [3] - The price of meta-aramid has remained stable, while para-aramid prices have fluctuated significantly over the past two years [2][3] Group 2: Subsidiary and Market Dynamics - Minshida, a subsidiary with 67% ownership, primarily produces aramid paper and operates independently on the Beijing Stock Exchange [3][4] - The demand for aramid paper is driven by electrical grid upgrades, data centers, and the growing electric vehicle market [3][4] - Current production capacity for aramid paper is 4,500 tons, with a projected expansion to 6,000 tons by 2030 [4] Group 3: Product Quality and Competition - The value of aramid paper in transformers is only 3-5%, but its quality is critical for the overall performance of the transformer [3][4] - The transition to new suppliers requires long-term validation of product quality, which has been established over more than a decade [4] - The company faces competition in the transformer market, particularly from overseas suppliers [4] Group 4: Cost and Production Efficiency - The production lines for honeycomb and insulation materials were previously shared but are now being differentiated to improve efficiency [4] - There is a slight cost difference between honeycomb and insulation papers, with honeycomb requiring higher-grade para-aramid [4] - The company is focusing on quality improvement and load increase to reduce costs in its production processes [5] Group 5: Market Strategy and Future Plans - The low-end composite paper market is estimated to be around 2,000-3,000 tons, prompting the company to invest in this segment to maintain market share [5] - The company is exploring new business opportunities, including textile innovations and membrane production [5] - The management has implemented an employee stock ownership plan to incentivize performance across the group and its subsidiaries [4][5]

Core Viewpoint - Shandong Province is focusing on building a high-quality development hub for the textile and apparel industry through the implementation of the "Action Plan for High-Quality Development of the Workwear Industry (2026-2028)" aiming to cultivate over five leading workwear enterprises with annual revenues exceeding 3 billion yuan by 2028 [2] Group 1: Industry Development - The textile and apparel industry in Shandong has been optimizing and upgrading, achieving simultaneous growth in quantity and quality, with a focus on the entire industrial chain from fiber raw materials to brand operation [4] - Shandong has over 50,000 production enterprises and 22 national-level industrial clusters, with significant revenue growth of 6.1% annually among large-scale enterprises during the 14th Five-Year Plan, surpassing the national average by 4 percentage points [6] - The province ranks first and second in the production of yarn and fabric respectively, with six companies in the top ten of China's cotton textile industry and four in the top ten of China's dyeing and finishing industry [6] Group 2: Technological Innovation - The industry is experiencing breakthroughs in technological innovation, with a focus on material innovation that supports sectors such as automotive, healthcare, deep-sea exploration, and military equipment [7] - Shandong has established a comprehensive industrial ecosystem covering various categories, including shirts, suits, down jackets, and home textiles, meeting broad market demands [7] Group 3: Workwear Industry Focus - The workwear industry in Shandong is a key focus area, with over 5,500 related enterprises generating approximately 45 billion yuan in annual revenue, and the establishment of the first national and third global arc-resistant fabric testing laboratory [7] - Future actions will focus on innovation and quality improvement in workwear, upgrading the workwear industry chain, enhancing product quality, and integrating AI technology into design and production processes [8]

Group 1 - The Chinese government has adjusted the export tax rebate policy for photovoltaic and battery products, reducing the VAT export rebate rate for battery products from 9% to 6% starting April 1, 2026, and fully canceling it by January 1, 2027, with a three-month transition period [2] - The purpose of the policy adjustment is to compress the profit margins of low-value-added production, encourage companies to transition to high-value-added products, and guide enterprises to establish overseas production to mitigate geopolitical risks [2][3] - The lithium carbonate futures market has seen a significant increase, with the main contract closing at 156,060 yuan per ton, marking a 9% increase and the first time surpassing the 150,000 yuan mark in two years, driven by policy changes and improved fundamentals [2] Group 2 - In the photovoltaic sector, companies are expected to accelerate order deliveries during the transition period, leading to a significant increase in export growth in the first quarter of 2026, particularly benefiting leading companies with high export ratios [3] - From 2027 onwards, industry differentiation is expected to intensify, with overseas production capacity becoming a core competitive advantage for leading companies like CATL, BYD, and LONGi, as domestic production costs will rise by 6-9% due to the cancellation of tax rebates [3] - The exit of outdated production capacity is anticipated to significantly increase industry concentration, with the top five companies expected to exceed 80% market share by 2027, enhancing pricing power and overall profitability in the industry [3] Group 3 - The Federal Reserve Chairman Jerome Powell is under criminal investigation related to the renovation of the Federal Reserve's headquarters, which has escalated tensions with former President Trump, who has previously criticized Powell for not lowering interest rates [4][5] - Powell described the investigation as unprecedented and questioned its motives, asserting that he would not succumb to political pressure while fulfilling his duties [4][5][7] Group 4 - Gold and silver prices have surged, with gold surpassing $4,600 and silver exceeding $83, driven by increased geopolitical risks and expectations of interest rate cuts following poor non-farm payroll data [8][9] - The U.S. government is considering various options to intervene in Iran, including military actions, which has contributed to rising demand for safe-haven assets like gold [8][9] Group 5 - ByteDance has significantly increased its investment in data centers, with a capital expenditure budget of approximately 160 billion yuan for 2025, including nearly 70 billion yuan specifically for data center infrastructure and network equipment [10][11] - The bidding activity for AI data centers has accelerated, with major projects like a 1 GW project already announced, indicating a robust demand surge starting in the fourth quarter of 2025 [11][14] - The improvement in AI chip supply, particularly the easing of export restrictions on NVIDIA's H200 chips, has facilitated the resumption of data center construction plans that were previously hindered by chip shortages [12][15] Group 6 - The domestic AI data center bidding landscape is expected to benefit from the scarcity of resources, with operators possessing high-quality resources having a stronger ability to fulfill orders and maintain pricing power [19] - The preference for bidding is concentrated in regions with lower electricity costs, such as Inner Mongolia and Shanxi, which will significantly reduce operational costs for data centers [19] - The domestic liquid cooling sector is poised for recovery as demand from AI data centers exceeds expectations, benefiting local manufacturers closely tied to major internet companies [18]

Group 1: Product Quality and Market Position - The company has improved the quality of spandex, achieving a first-class product rate close to the industry's highest level, with a premium over the industry average [2] - In 2026, the company plans to further enhance product quality and reduce costs, aiming for improved profitability [2] - The spandex industry saw the exit of two medium-capacity producers in 2025, with one major player withdrawing from the Chinese market [2] Group 2: Production Capacity and Sales - The company’s production capacity is influenced by product variety and sales capabilities [3] - The current operating rate is not at full capacity due to these factors, but can reach full capacity if market conditions are favorable [3] - The company’s nominal production capacity for spandex in Ningxia is 85,000 tons [5] Group 3: Market Trends and Pricing - There is currently some pressure on pricing in the industry, but it is expected to stabilize without significant changes in the next one to two years [3] - The company is focusing on developing new application scenarios and expanding into overseas markets [3] - Export prices for products are generally higher than domestic prices, depending on specific orders and regions [4] Group 4: Technological Developments and Applications - The company is exploring applications of aramid paper in commercial aerospace, particularly in components like fairings and honeycomb structures [4] - The company is also working on green dyeing technologies, which currently have limited volume but are being refined for future orders [5] - The aramid fiber is primarily used in specialized applications such as backup power sources for data centers and certain types of batteries [4]