STHC(SZ:000045)2022-12-07 08:54Group 1: Company Background and Development - The company, Shenzhen Textile (Group) Co., Ltd., was established in 1984 and went public in 1994, transitioning from traditional textile to high-tech polarizer production [2][3] - In 1995, the company partnered with ADS to establish Shenzhen Shengbo Polarizer Co., Ltd., which led to the production of the first small-sized black-and-white polarizer in 1999 [3] - The company has undergone significant transformation, proposing a shift to high-tech polarizer production in 2008, with government approval for a project to build four production lines [3][4] Group 2: Current Product Issues - The yield rate for TV polarizer products is stable at around 95%, which is below the industry leaders' yield rates of approximately 98%-99% [4] - The company faces challenges in production efficiency due to single-line production, leading to insufficient capacity utilization and high production costs [4][5] - The price of polarizers is influenced by multiple factors, including panel prices and raw material costs, with significant declines in panel prices affecting financial indicators [4][5] Group 3: Production Capacity and Challenges - The designed capacity for the 4th production line is 6 million square meters per year, but actual output is lower due to product switching [5] - The company is working to increase production line capacity through acceleration, which requires enhanced management [5][6] - The company terminated its cooperation with Nitto Denko due to the need for adjustments in product technology and equipment selection for future market demands [5][6] Group 4: Project Progress and Timeline - The second-phase project is currently in progress, with a construction cycle of approximately 15 months, including 9 months for equipment manufacturing, 3 months for installation, and 3 months for debugging [6] - The company has engaged in thorough communication with investors and adhered to regulations to prevent the leakage of significant undisclosed information [6]