Sinoma Science & Technology (SZ:002080)2022-12-04 07:02Group 1: Industry Trends - The wind power industry is experiencing a downturn, with a significant drop in new installations in the first three quarters of the year, down to 3.2 GW from 5.6 GW last year, primarily due to policy impacts [3] - The new installations for this year are expected to be a low point during the 13th Five-Year Plan period, but a cautious optimism for growth next year is noted, driven by potential policy relaxations in the northern regions and a favorable overseas market [3][4] - The domestic wind power equipment manufacturers are gradually enhancing their competitiveness, with an expected 3-5% growth in overseas markets this year [3] Group 2: Company Strategies - The company has made strategic adjustments in response to the overall decline in the blade industry, including increasing production capacity in key regions such as Jiangsu, Jiangxi, and Hebei, leading to an anticipated market share increase of 2-3% this year [4] - The focus on technological research and cost control aims to improve overall power generation efficiency and reduce costs, with the goal of achieving parity between wind and thermal power [4] - The company is enhancing its product innovation through increased investment in technology to improve the efficiency of wind energy conversion [4][5] Group 3: Cost and Market Dynamics - The long-term trend for blade costs is downward, driven by improvements in production efficiency and advancements in material systems [4] - The glass fiber industry has maintained a high level of prosperity, with an annual growth rate of 6-8%, and new application demands emerging each year [5] - The company plans to maintain a net increase of 100,000 tons in glass fiber production capacity annually during the 13th Five-Year Plan period [5][6] Group 4: Competitive Landscape - The glass fiber industry is characterized by high technical and financial barriers for new entrants, with the market dominated by three major players [5][6] - The company is focusing on enhancing its high-end application ratio, particularly in sectors like automotive lightweighting and wind power [6] - The company is also expanding its production capacity overseas, with plans for new facilities in India [6][7]