吉林化纤（000420.SZ）1月9日在投资者互动平台表示，公司碳纤维复材项目建设指的是1.2万吨碳纤维 复材生产线，该项目碳化及复材生产线。该项目总投资14.58亿元，目前项目已完工，复材的认证工作 也进入尾声。 每经AI快讯，有投资者在投资者互动平台提问：请问公司碳纤维复材建设项目指的是什么？碳纤维复 材建设项目投资额为多少，建设进度百分比为多少？ （文章来源：每日经济新闻） ...

（文章来源：每日经济新闻） 吉林化纤（000420.SZ）1月9日在投资者互动平台表示，公司目前具有1.2万吨碳纤维复材生产线和600 吨小丝束生产线。为持续发展碳纤维产业，本着共同合作提高的原则，公司代管国兴复材公司，双方可 以在生产研发、市场体系拓展等方面形成合力，带来碳纤维产业的共同进步。 每经AI快讯，有投资者在投资者互动平台提问：上市公司自己只有600吨3K小丝束生产线，复材是低端 加工环境，需要外购碳纤维，完全谈不上是个碳纤维概念的公司。我了解到的信息是公司托管国兴复 材，付出了大量资源，得到的结果是100万元托管费，它的利润和上市公司无关。请公司说明下这种托 管对公司的收益在哪里，是不是在给集团输送利益？ ...

证券日报网讯1月8日，精工科技（002006）在互动平台回答投资者提问时表示，公司以碳纤维全链高端 装备及先进复合新材料为核心业务，目前，公司在碳纤维材料端领域，主要致力于高性能碳纤维原丝以 及碳纤维复材能力建设。 ...

新材料50ETF（159761）跟踪的是新材料指数（H30597），该指数聚焦于新材料产业，从市场中选 取在先进基础材料、关键战略材料及前沿 山西证券指出，政策赋能商业航天进入发展快车道，需求驱动碳纤维行业底部确认。国家航天局发 布的《推进商业航天高质量安全发展行动计划》明确提出，到2027年要实现商业航天产业生态高效协 同，产业规模显著壮大的目标。政策驱动商业航天产业的快速发展，将为碳纤维带来巨大市场空间，商 业航天碳纤维复材市场规模有望在5年内实现翻番，碳纤维复材年需求量预计将从目前的百吨级增长至 千吨级。2025年1-12月，中国碳纤维实际消费量预计96446吨，同比上涨71.89%，其中增量主要集中于 风电叶片及航空航天领域。随着应用端不断升级，能够稳定供应高性能产品的企业，其定价能力正在逐 步恢复。日本东丽宣布上调碳纤维及其中间产品价格，涨幅区间为10%-20%；吉林化纤也发布碳纤维涨 价通知。随着供需关系优化以及技术突破加速，未来高端碳纤维行业有望进入新一轮高质量增长期。 每日经济新闻 （责任编辑：张晓波 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立， ...

Core Viewpoint - The commercial aerospace industry is entering a rapid development phase driven by policy support, which will significantly boost the carbon fiber market, with demand expected to double within five years [1] Industry Summary - The National Space Administration of China released an action plan on November 25, 2025, aiming for a highly efficient and collaborative commercial aerospace ecosystem by 2027 [1] - The carbon fiber composite market in commercial aerospace is projected to grow from a hundred-ton level to a thousand-ton level in demand [1] - In 2025, China's actual carbon fiber consumption is expected to reach 96,446 tons, a year-on-year increase of 71.89%, primarily driven by the wind power blade and aerospace sectors [1] Company Summary - Companies that can consistently supply high-performance products are gradually regaining pricing power due to upgrades in application sectors [1] - On December 12, 2025, Toray announced a price increase of 10%-20% for its TORAYCA™ carbon fiber and related intermediate products, effective for orders shipped from January 2026 [1] - On December 15, 2025, Jilin Chemical Fiber announced price increases for its wet method 12TK carbon fiber and 3K carbon fiber, with increases of 5,000 yuan and 10,000 yuan per ton, respectively, effective January 1, 2026 [1] - The high-end carbon fiber industry is expected to enter a new phase of high-quality growth due to optimized supply-demand relationships and accelerated technological breakthroughs [1] - Key companies to watch in the carbon fiber sector include Jilin Chemical Fiber, Zhongfu Shenying, Zhongjian Technology, and Guangwei Composites [1]

Core Viewpoint - The stock of Shangong Shenbei (sh600843) reached its daily limit, closing at 13.73 yuan with a 10.02% increase, driven by government compensation, business transformation, and employee stock ownership plans [1][2]. Group 1: Government Compensation - The company announced it received a substantial government compensation of 243 million yuan, which is expected to increase net profit by 175 million yuan, significantly improving cash flow and alleviating current performance and cash flow pressures [2]. Group 2: Business Transformation - Shangong Shenbei is actively transforming its business by establishing a subsidiary with a registered capital of 550 million yuan to expand into the general aviation sector, focusing on carbon fiber composites and light aircraft. This move aligns with the national emphasis and support for the general aviation industry, indicating substantial growth potential [2]. Group 3: Employee Stock Ownership - The company implemented an employee stock ownership plan, unlocking 1.7258 million shares valued at 7.7661 million yuan, which is expected to stabilize the core team and enhance employee engagement, positively impacting long-term development [2]. Group 4: Market Dynamics - The textile and apparel sector saw some capital inflow on the same day, suggesting that Shangong Shenbei may benefit from this trend. Additionally, if the MACD indicator shows a bullish crossover or breaks through key resistance levels, it could attract further investment [2].

Industry Rating - The report maintains an "Outperform" rating for the defense and military industry, consistent with the previous rating [1]. Core Viewpoints - The report emphasizes that warfare is entering an intelligent era, with AI driving rapid evolution across all fields and the entire industry chain. The focus on AI development is becoming a strategic priority for both the U.S. and China, with significant investments and policy support expected to enhance military AI capabilities [2][19][22]. Summary by Sections Investment Rating - The industry is rated as "Outperform," indicating a positive outlook for investment opportunities in the defense and military sector [1]. AI Integration in Military - AI is accelerating the closure of the kill chain, with a projected global military AI and analytics market size reaching $104 billion by 2024, and an expected CAGR of 13.4% from 2025 to 2034 [2][22]. - The military AI system is being built in layers, focusing on infrastructure, technology, and applications, which presents vast opportunities for growth [29][33]. Infrastructure Layer - The foundational layer includes the integration of cloud computing, edge nodes, and terminal equipment, providing robust computational support for new combat capabilities [33][34]. - The report highlights the importance of military-grade chips in breaking external constraints on computational power, with a target of achieving 748 EFLOPS of intelligent computing capacity by March 2025 [34][40]. Technology Layer - The technology layer focuses on the development of military-specific AI models, which are crucial for enhancing operational capabilities in areas such as intelligence, reconnaissance, and decision-making [48][49]. - The report notes that software is becoming increasingly important in modern military equipment, with a significant increase in the amount of software code used in advanced military aircraft [57][58]. Application Layer - AI is expected to transform battlefield information processing, leading to increased demand for situational awareness infrastructure, including ground-based and airborne sensors [63][64]. - The report suggests that the military AI applications will expand across various domains, including cyber warfare, logistics, and autonomous systems, enhancing overall military effectiveness [32][63]. Recommended Companies - The report recommends focusing on companies involved in computational power, technology development, and application integration, including: - Computational Power: Jingjia Micro, Fudan Microelectronics, Unisoc, Chengdu Huami, and others [2][34]. - Technology Development: Zhongke Xingtu, Aerospace Hongtu, and others [2][48]. - Application Integration: Aerospace Nanhai, Guorui Technology, and others [2][63].

Core Viewpoint - A group of Shenzhen-listed companies is leveraging advanced material technology to support China's transition from "catching up" to "keeping pace" and "leading" in high-quality manufacturing [1] Capital Market Empowerment - Companies like Guangwei Composite Materials have utilized nearly 1 billion yuan raised from their IPO to establish carbon fiber production lines and a composite materials R&D center, leading to product upgrades and optimized industrial layout [1] - Jinli Permanent Magnet has seen its revenue grow from 1.7 billion yuan in 2019 to 6.7 billion yuan in 2024, a nearly threefold increase, while total assets rose from 2.8 billion yuan to 12.3 billion yuan, a 3.4-fold increase [2] - CITIC Special Steel became the largest specialized steel company in the A-share market after its restructuring in 2019, enhancing its competitiveness in high-end steel markets through capital raising [2] Autonomous Core Competence - Companies are determined to overcome foreign technology blockades, achieving a shift from dependency to self-sufficiency in high-end materials [3] - Guangwei Composite Materials has become a leading supplier of carbon fiber materials for military applications in China [3] - Jinli Permanent Magnet has reduced rare earth usage by 50% to 70% through its core technology, leading to a projected 90% product share in 2024 [3] - CITIC Special Steel has maintained a leading position in the production of high-end bearing steel for over a decade [3] Innovation "Moat" - Guangwei Composite Materials has maintained R&D investment above 8.5% for five years, with over 931 authorized intellectual property certificates [5] - Jinli Permanent Magnet's R&D expenses reached 321 million yuan in 2024, accounting for 4.74% of revenue, with 127 patents in various stages of approval [6] - CITIC Special Steel has participated in multiple national key technology projects and has been awarded numerous national and industry-level technology advancement awards [6] High-Growth Pathways - Companies are aligning their development paths with national strategies, focusing on high-demand areas under the "dual carbon" goals and new industrialization [7] - Guangwei Composite Materials is applying carbon fiber in wind turbine blades, while Jinli Permanent Magnet is supplying permanent magnet materials for new energy vehicles [7] - CITIC Special Steel is developing green special steel for wind power, photovoltaics, and hydrogen energy [7] - The collective efforts of these companies reflect the high-quality development of China's material industry and the significant role of the capital market in supporting technological innovation [7]

Investment Rating - The report indicates a strong investment interest in the deep-sea technology sector, particularly following the inclusion of "deep-sea technology" in the 2025 government work report, elevating its strategic importance alongside low-altitude economy and commercial aerospace [3]. Core Insights - The deep-sea technology market is projected to have significant growth potential, with China's marine economy expected to exceed 10 trillion yuan in 2024, marking a year-on-year growth of 5.9% [4]. - Deep-sea technology possesses both economic and national defense strategic value, with rich resources such as polymetallic nodules and rare metals expected to be increasingly sourced from deep-sea mining [5]. - There is substantial room for domestic substitution in the deep-sea technology sector, as the current localization rate is below 30%, indicating a significant opportunity for local manufacturers [6]. Summary by Sections Government Support and Market Potential - The 2025 government work report marks a pivotal moment for deep-sea technology, highlighting its transition from research exploration to industrial driving force, which is expected to resonate across military and civilian sectors [3]. - The marine economy's total value reached 10.5438 trillion yuan in 2024, contributing 7.9% to the national GDP, with specific sectors like marine shipbuilding and marine power showing growth rates exceeding 9% [4]. Industry Characteristics - Deep-sea technology focuses on three main areas: deep diving, deep drilling, and deep networking, which are essential for exploration and resource extraction [11][12]. - The industry chain includes upstream materials and core components, midstream deep-sea equipment manufacturing, and downstream application services, indicating a long chain with significant economic impact [13]. Technological Advancements - The report emphasizes the importance of specialized materials such as titanium alloys and carbon fiber composites, which are well-suited for the high-pressure and corrosive deep-sea environment [15]. - Energy systems in deep-sea applications are expected to utilize high-density lithium-ion batteries, which are crucial for the operational efficiency of deep-sea equipment [17]. Comparative Analysis - Deep-sea technology shares similarities with low-altitude economy and commercial aerospace in terms of military-civilian integration and economic spillover effects, with all three sectors being prioritized by national policy [23][24]. - The report outlines the high technical barriers in deep-sea technology, which includes advanced underwater communication systems and deep-sea mining technologies, distinguishing it from the relatively lower barriers in low-altitude and aerospace sectors [25]. Industry Players - The report provides a comprehensive overview of the deep-sea technology industry chain, highlighting key players across upstream materials, midstream equipment manufacturing, and downstream application services [29].

Group 1: Financial Performance and Projections - The carbon fiber gross margin is currently in a loss state, but price increases in March and May 2025 are expected to significantly improve performance [1] - The company has a production capacity of 600 tons/year for wet 3K carbon fiber and plans to increase capacity based on market conditions [2] - The revenue from viscose filament business is expected to remain high, with full production and sales in 2024, while carbon fiber revenue is projected to decline [6] Group 2: Market and Product Strategy - The company aims to expand its market share and improve service timeliness by leveraging regional resources and increasing R&D investment [4] - The company does not produce carbon fiber precursor yarn and has a total carbon fiber production capacity of 12,000 tons [2] - The company is actively exploring applications for carbon fiber in various fields, including wind power and aerospace [5] Group 3: Risk Management and Competitive Position - The company recognizes potential risks in the viscose and carbon fiber sectors and plans to implement strategies to mitigate these risks [3] - The company has achieved a significant increase in R&D investment, with a year-on-year growth of 502.56%, primarily focused on carbon fiber [5] - The chemical fiber industry is highly competitive, but the company has developed advantages in technology, talent, and market presence [6]