中复神鹰(688295) - 中复神鹰碳纤维股份有限公司2024年9月2日-9月3日投资者关系活动记录表

Sales Performance - In the first half of the year, sales in the new energy sector (hydrogen energy, wind power, thermal fields) accounted for over 45%, a decrease compared to 2023 due to a decline in photovoltaic demand [3] - Sales in the sports and leisure sector accounted for over 30%, showing an increase compared to the same period in 2023 [3] - Aerospace sector sales increased, with significant growth in export sales; other sectors accounted for over 15% [3] Profitability by Production Base - The Lianyungang base for high-performance small tow products showed strong profitability with a slight increase in gross margin [3] - The Xining base, producing T700 grade products, experienced a slight decline in gross margin due to a small drop in prices [3] Strategic Response to Market Conditions - The company faced lower-than-expected carbon fiber market demand and price reductions, leading to increased sales but unchanged profits [3] - Measures taken include cost reduction, market research, and overseas market expansion [3] - Strategic focus for the second half includes adjusting production plans, increasing R&D investment, and exploring new application opportunities in wind power, photovoltaic, and hydrogen energy sectors [3] Sales Strategy Changes - The company optimized sales processes and expanded market share by integrating sales modules and establishing a marketing center for unified management [3] - Strengthened sales team construction with detailed regional responsibilities and incentive policies to boost team motivation [3] - Developed a multi-channel sales model, primarily direct sales supplemented by distribution, to enhance market coverage [3] Wind Power Market Outlook - Wind power remains a significant application area for carbon fiber, with increasing demand driven by the "dual carbon" goals and the need for larger, lighter wind turbine blades [4] - The company has increased investment and R&D in the wind power sector, resulting in significant sales growth in the first half of the year [4] - New products T700-24K and T700-48K have been validated by mainstream wind power manufacturers, receiving positive feedback [4] Future Demand and Applications - Emerging fields show promising demand for carbon fiber, particularly in the electronic 3C sector with the rise of foldable screens and laptops [5] - Carbon fiber applications in large structural components and bridge repairs are expected to expand, contributing to industry growth [5] Pricing Trends and Profitability Strategies - Despite a sales increase of over 10% in the first half, revenue was impacted by overall price declines in the carbon fiber industry [5] - Strategies to enhance profitability include increasing high-end product output, leveraging cost advantages, and accelerating new product development [5] - The company aims to extend its product line beyond current offerings to include high-end intermediates, enhancing profitability [5] Competitive Positioning - The company has accumulated significant experience and accolades, including national science and technology awards, indicating strong technical and product performance [5] - Launched 20 product series and over 40 product models, maintaining the largest high-performance carbon fiber production base in the country [5] - Introduced three new high-strength, high-modulus products at the China International Composite Materials Industry Technology Exhibition, filling gaps in high-end applications [5]