KBC(SH:688598)2024-09-26 09:11Group 1: Financial Performance and Market Position - The company's photovoltaic thermal field segment experienced a year-on-year decline in gross margin, prompting a more cautious operational strategy to mitigate cyclical risks [3] - The company is optimizing its customer system to prevent operational risks associated with industry cycles [3] - The company maintains its leading position in the photovoltaic thermal material segment through continuous technological innovation and cost reduction [3] Group 2: Product Development and Applications - The company has developed ultra-pure insulation materials for high-temperature thermal systems, applicable in silicon-based and silicon carbide semiconductors [4] - A complete product system for carbon-ceramic brake discs has been established, with market penetration expected to increase as products are launched [4][5] - The lithium battery thermal field products have been successfully developed and mass-produced, enhancing performance metrics such as lifespan and strength [5] Group 3: Market Expansion and Future Projections - The hydrogen fuel cell vehicle market is projected to demand 1 million square meters of gas diffusion layers by 2025, indicating significant market potential for carbon paper products [6] - The company is actively expanding its supply to key lithium battery anode and cathode manufacturers, with ongoing product validation [5][6] - The company aims to improve lithium battery business gross margins through technological innovation and process optimization [5]