对话坤泰股份张麟轩：从“中国供应商”转型“全球合作伙伴”

Core Viewpoint - Shandong Kuntai New Materials Technology Co., Ltd. aims to transform from a "Chinese supplier" to a "global partner" by expanding its overseas market presence and enhancing customer engagement through differentiated competition strategies [1][15]. Group 1: Financial Performance - The company's net cash flow from operating activities increased significantly by 75.06% year-on-year in the first three quarters of 2025, indicating improved operational efficiency and cost control [1]. - Research and development expenses saw a notable increase of 23.35% year-on-year in the first three quarters of 2025, reflecting a strong commitment to innovation despite overall revenue pressures [9]. Group 2: Market Position and Strategy - Kuntai holds over 50% of the domestic market share for automotive tufted carpets and has successfully entered the global mainstream supply chain by establishing a production line in Morocco and signing a five-year cooperation agreement with a renowned French automotive interior group [1][3]. - The company has expanded its customer base to include major new energy vehicle brands such as Huawei, NIO, Li Auto, and XPeng, in addition to traditional fuel vehicle clients [3]. Group 3: Innovation and Product Development - Kuntai has achieved large-scale self-production of its core raw material, BCF fiber, which not only reduces raw material costs but also enhances supply chain stability [7]. - The company has developed environmentally friendly carpets that are low-emission, antibacterial, and recyclable, meeting the demands of new energy vehicles for sustainability and lightweight materials [7]. Group 4: Global Expansion and Future Plans - The establishment of a production base in Morocco is a key part of Kuntai's globalization strategy, aimed at reducing logistics and tariff costs while enhancing business resilience through a diversified supply chain [14]. - The company anticipates that its North American market, supported by the Mexican base, will enter a phase of order and capacity release, while also deepening its domestic customer relationships [15][16].