SMIC(SH:600810) DT新材料·2025-11-24 23:10Group 1 - The core viewpoint of the article is that Shenma Co., Ltd. is expanding its overseas market by establishing a new company in Ningdong, Ningxia, to develop high-performance nylon 66 products, particularly for the automotive sector [2][3][4]. Group 2 - The new company, Shenma (Ningdong) Curtain Fabric Co., Ltd., has a registered capital of RMB 168.76 million, fully funded by Shenma Co., Ltd. [3]. - The overall project plans to produce 35,000 tons of industrial yarn and 26,000 tons of coated curtain fabric, with the first phase targeting 20,000 tons of industrial yarn and 13,000 tons of coated curtain fabric [4]. - The total investment for the project is estimated at RMB 560.76 million, with construction expected to start on March 15, 2026, and completion anticipated by September 2027 [4]. Group 3 - The products from the Ningdong project will include high-performance nylon 66 industrial yarn and coated curtain fabric, primarily used in the automotive industry [4]. - Nylon 66 industrial yarn is categorized into heavy denier and fine denier, with applications in tire curtain fabric, canvas, and airbags [4]. Group 4 - Nylon 66 high-strength medium and low denier yarns are considered high value-added nylon fibers with high technical barriers, marking a key area for future development in the nylon 66 industry [5]. - In August 2025, Shenma Co., Ltd. announced the successful development of an 11-denier ultra-high-strength nylon 66 industrial yarn, breaking the long-standing technological monopoly of international giants [5]. Group 5 - Currently, Shenma Co., Ltd. has a production capacity of 130,000 tons for nylon 66 industrial yarn and 80,000 tons for curtain fabric, with over 90% of its products being high-end differentiated products and 60% being exported [6]. - The global market share of Shenma Co., Ltd. stands at 40%, maintaining its position as the world's leading manufacturer [6]. Group 6 - The demand for automotive curtain fabric in China is expected to continue growing at an annual rate of over 10%, driven by the expansion of the passenger car market and the rapid development of the semi-steel radial tire industry [7].