Cangzhou Mingzhu(SZ:002108)2022-12-06 01:33Group 1: Company Overview and Investor Relations - Cangzhou Mingzhu Plastic Co., Ltd. is engaged in investor relations activities, including analyst meetings and media interviews [2] - The company has a strong focus on the development of dry and wet diaphragm technologies for battery applications [3][4] Group 2: Production and Technology Insights - The dry diaphragm process is segmented and not continuous, while the wet diaphragm process is highly mechanized and continuous [3] - Both dry and wet diaphragm processes are critical, with each step affecting product quality [3] - The company has accumulated significant experience in equipment integration for diaphragm production [3] Group 3: Market Development and Capacity - The wet diaphragm production line is in its initial phase, with a target capacity of 60 million square meters expected to be operational by the end of this year or early next year [4][5] - Projected capacity for wet diaphragm production in the next year is 85 million square meters [4] - By 2018, the wet diaphragm capacity is expected to reach 150 million square meters [5] Group 4: Financial Performance and Market Demand - The dry diaphragm production capacity has exceeded design capacity, primarily due to improved production processes and equipment efficiency [5] - The BOPA film market is experiencing strong demand, with a production capacity of 28,500 tons, and the company is currently operating at full capacity [6][7] - The gross margin for BOPA films has increased significantly due to high demand and limited supply from competitors [6] Group 5: Competitive Landscape - The competition between dry and wet diaphragms is expected to intensify, particularly for wet diaphragms after 2018 as new capacities come online [7] - The company does not plan to expand BOPA film production capacity in the immediate future [7]