中材科技(002080) - 2018年6月6日投资者关系活动记录表

Group 1: Policy Impact on Wind Power - The introduction of new photovoltaic policies is related to the development status of the domestic photovoltaic industry over the past two years, not an overall adjustment of national renewable energy policies. In the short term, the wind power market will not be affected, while in the medium to long term, it will accelerate the promotion of grid parity for wind power and drive technological progress in the industry, benefiting leading companies [3]. - The background of the policy change is primarily due to significant fiscal pressure, leading to a shift from a feed-in tariff mechanism to a bidding mechanism [3]. - The first batch of competitive allocation projects is expected to commence construction in the second half of 2019, driven by existing approved projects [3]. Group 2: Company Strategy and Internationalization - The company is committed to advancing its international strategy, exploring cooperation paths with overseas blade manufacturers, and closely tracking the development dynamics of offshore wind power technology [4]. - The company has established partnerships with internationally renowned manufacturers and is currently in the small batch supply stage [4]. Group 3: Product Development and Market Trends - The proportion of wind turbine blades of 2MW and above increased from 20% in 2015 to 80% in 2017, indicating a significant upgrade in product structure [4]. - The main raw materials for wind turbine blades are resin, glass fiber, and core materials, with raw material costs accounting for approximately 70% of total costs [4]. - The company aims to maintain stable gross margins despite significant price pressures in the industry, focusing on technological innovation to smooth out price declines and raw material cost fluctuations [4]. Group 4: Production Capacity and Market Response - The company has made progress in its new diaphragm production lines, with the first two lines achieving stable production and ongoing optimization of product performance [5]. - The average yield of the production line is currently around 60%, with recent improvements bringing it to approximately 70% [6]. - The company believes that the current supply-demand relationship is basically balanced, despite media reports of oversupply [5].