Core Viewpoint - The article emphasizes the significant growth potential and strategic importance of high-performance carbon fiber in the high-end manufacturing sector, particularly in aerospace and military applications, highlighting the advancements and market positioning of Zhongjian Technology (300777.SZ) [3][4]. Industry Overview - The global high-performance carbon fiber market has maintained steady growth over the past five years, with China's market growth rate significantly surpassing the global average. The compound annual growth rate (CAGR) for the global carbon fiber market from 2020 to 2024 is approximately 12%, while China's CAGR exceeds 20% [5]. - Aerospace remains the largest application field for high-performance carbon fiber, consistently accounting for 40%-50% of the global market value. China's demand growth rate for high-performance carbon fiber in the aerospace sector has exceeded 25% over the past five years, with expectations of maintaining a growth rate of 20%-30% in the next 3-5 years [5][13]. Company Profile - Zhongjian Technology, established in 2008, focuses on the research, production, and sales of high-performance carbon fiber. Its core products include the ZT7, ZT8, and ZT9 series, with a strong emphasis on T700 grade and above [8][10]. - The company has a competitive edge in the military special fiber sector, with its products being critical materials for various aerospace equipment, ensuring stable customer relationships and high barriers to entry [10][12]. Market Positioning - Compared to competitors like Guangwei Composite (300699.SZ) and Zhongfu Shenying (688295.SH), Zhongjian Technology differentiates itself by focusing on small tow, high-performance aerospace and military markets, leading in market share within this niche [12]. - The demand for high-performance carbon fiber in the domestic aerospace sector is expected to grow at an annual rate of over 25% in the next 3-5 years, driven by the increasing use of carbon fiber composite materials in aircraft [13][14]. Capacity Expansion - The company plans to address production bottlenecks by expanding its capacity, with two key projects set to add a total of 2,300 tons per year by 2027. This expansion reflects the company's confidence in future market demand [20]. - The expansion projects will focus on high-performance carbon fiber products, particularly the ZT9 series and other advanced materials, which are positioned at the forefront of domestic and international standards [20]. Financial Performance - In the first three quarters of 2025, the company reported revenues of 680 million yuan, a year-on-year increase of 28.5%, and a net profit of 290 million yuan, up 25.5% [21]. - The growth in revenue is attributed to the orderly supply of ZT9 series products and the ongoing progress of key projects, which are expected to significantly enhance the company's capacity for high-end products [21][23].