泰和新材(002254) - 2025年12月23日投资者关系活动记录表

Group 1: Industry Overview - The expansion cycle for the spandex industry is nearing its end, with significant growth occurring primarily between 2019 and 2020, driven by a low-cost strategy [2] - The company focuses on differentiated products, particularly coarse denier yarns, while competitors are moving towards finer denier yarns [2] - The main customers for coarse denier yarns are in the textile sector, including lace and webbing applications [2] Group 2: Demand Trends - The demand for spandex is closely linked to the growth of yoga and sportswear, indicating a stable downstream market primarily in textiles and apparel [3] - The concentration in the spandex industry is relatively high, and its impact on overall clothing prices is minimal due to its low proportion in textile applications [3] Group 3: Competitive Landscape - The competitive landscape in the aramid fiber sector has become more complex, with both large and small manufacturers entering the market [3] - The company maintains a leading position in terms of production capacity, cost, and market share [3] Group 4: Product Applications and Innovations - Aramid fibers are used in niche applications such as special energy storage, backup power for data centers, and high-performance environments [3] - The company has four divisions focusing on advanced textiles, security and information technology, new energy, and chemical materials, with ongoing experimental projects in textile recycling and safety materials [4]