负极材料市场竞争加剧，尚太科技为何筹划融资扩产20万吨？

Group 1 - The core point of the news is that Shangtai Technology plans to issue convertible bonds to raise up to 2.5 billion yuan for expanding its production capacity of anode materials, despite the intensifying competition and declining prices in the anode materials market [1][3][4] - The anode materials market is currently facing oversupply, with a significant slowdown in the growth rate of domestic shipments, leading to persistent operational pressures for production companies [3][4] - Shangtai Technology's gross profit margins have been declining, with projected gross margins of 41.65%, 27.74%, and 25.72% from 2022 to 2024, indicating a challenging market environment [3][4] Group 2 - Despite the competitive landscape, several leading companies, including Shangtai Technology, are actively expanding production, with plans for a 200,000-ton capacity increase [5][6] - Shangtai Technology's production capacity utilization has been above 100%, indicating a strong demand for expansion, with utilization rates of 106.53%, 81.19%, and 127.35% over the past three years [6] - The new production capacity will focus on fast-charging and ultra-fast charging anode materials, which are expected to see increased demand and stable pricing by the first quarter of 2025 [6]