TRUCHUM(SZ:002171)2022-11-21 16:20Group 1: Company Overview - The company is Anhui Chuangjiang Technology New Materials Co., Ltd., with stock code 002171 and bond code 128109 [1] Group 2: Investor Relations Activity - The investor relations activity was organized by Everbright Securities on September 8, 2021, via a phone meeting [2] - The meeting was attended by various investment firms, including Tianhong Fund and Southern Fund [5][6] Group 3: Product Applications - The main application areas for Tianbird's carbon fiber prepregs are military products (approximately 80%) and civilian products [2][3] - The prepreg products are categorized into three parts: aerospace components (satellites, rockets, spacecraft), brake disc prepregs (for military and civilian aircraft, and automotive), and thermal field prepregs (including crucibles for photovoltaic single crystal furnaces) [2][3] Group 4: Future Production Plans - The company plans to produce carbon-carbon composite materials through the Wuhu Tianbird project, which is divided into three phases focusing on thermal field carbon-carbon materials and potentially extending to other product directions [3] Group 5: Market Trends and Demand - The demand for prepregs is expected to grow significantly due to the advantages of carbon fiber products, with military and civilian sectors experiencing substantial growth [3] - The industry is witnessing three replacement trends: 1. Carbon-carbon brake discs replacing powder metallurgy brake discs in military aircraft, with future applications in high-speed trains and automobiles 2. High-temperature alloy materials being replaced due to weight reduction and high-temperature resistance, particularly in aviation 3. Graphite materials being replaced by carbon-carbon composites, which offer better performance and longer service life [3] Group 6: Supply and Demand of Carbon Fiber - The demand for carbon fiber raw silk is increasing rapidly, but supply is also growing quickly. Currently, supply is tight due to restrictions on imports, leading to higher prices [3] - Long-term prospects indicate that domestic carbon fiber quality and quantity will improve, supporting the expansion of the entire carbon fiber industry chain [3] Group 7: Market Entry Barriers - The entry barrier for civilian prepregs, particularly thermal field materials, is relatively high due to the need for standardization and specialized design for military prepregs [4]