YANTAI TAYHO(SZ:002254)2026-01-12 15:04Group 1: Product Quality and Market Position - The company has improved the quality of spandex, achieving a first-class product rate close to the industry's highest level, with a premium over the industry average [2] - In 2026, the company plans to further enhance product quality and reduce costs, aiming for improved profitability [2] - The spandex industry saw the exit of two medium-capacity producers in 2025, with one major player withdrawing from the Chinese market [2] Group 2: Production Capacity and Sales - The company’s production capacity is influenced by product variety and sales capabilities [3] - The current operating rate is not at full capacity due to these factors, but can reach full capacity if market conditions are favorable [3] - The company’s nominal production capacity for spandex in Ningxia is 85,000 tons [5] Group 3: Market Trends and Pricing - There is currently some pressure on pricing in the industry, but it is expected to stabilize without significant changes in the next one to two years [3] - The company is focusing on developing new application scenarios and expanding into overseas markets [3] - Export prices for products are generally higher than domestic prices, depending on specific orders and regions [4] Group 4: Technological Developments and Applications - The company is exploring applications of aramid paper in commercial aerospace, particularly in components like fairings and honeycomb structures [4] - The company is also working on green dyeing technologies, which currently have limited volume but are being refined for future orders [5] - The aramid fiber is primarily used in specialized applications such as backup power sources for data centers and certain types of batteries [4]