Cangzhou Mingzhu(SZ:002108)2022-12-05 06:04Group 1: BOPA Film Insights - The BOPA film's product price is expected to remain similar to 2016 if there are no significant market changes [3] - The raw material for BOPA is PA6 nylon chips [3] - The highest price for BOPA film in 2016 was in the fourth quarter [3] - The price of BOPA film is likely to increase due to the rapid rise in raw material prices this year [3] Group 2: Separator Products - The company has three subsidiaries producing separators: Dezhou Donghong Membrane Technology Co., Ltd., Cangzhou Mingzhu Membrane Technology Co., Ltd., and Cangzhou Mingzhu Lithium Battery Separator Co., Ltd. [3] - The price of separators decreased in the second half of last year due to the impact of subsidy fraud incidents, leading to a decline in both sales volume and price [3] - The decline in separator product prices from early to late last year was approximately 10% [3] Group 3: Current and Future Pricing - The average price of separators is currently less than 4 yuan per square meter [4] - The price of separators is expected to continue to decline, but the extent is uncertain and will depend on market conditions [4] - The estimated sales volume for dry separators in 2017 is expected to be around 100 million square meters, similar to last year [5] Group 4: Production and Market Trends - The combined production of dry and wet separators is projected to reach 160 million square meters this year [5] - The price decline for wet separators is expected to be smaller compared to dry separators due to the market trend favoring wet separators with coating [5] - The average thickness of dry separators sold is primarily 16 microns, 20 microns, and 25 microns [4] Group 5: Equipment and Standards - The equipment for separator production is not standardized and is mostly self-integrated by the company [6] - The procurement prices for separator equipment have not changed significantly [6] - There is no essential difference between separators used in mobile phones and those used in power applications, mainly differing in thickness [6] Group 6: Pipeline Products - The demand for pipeline products has increased due to the "coal-to-gas" project in North China, leading to a supply shortage [7] - The company collaborates with major gas operators, maintaining stable profit margins over the years [7]