楚江新材(002171) - 2020年7月1日投资者关系活动记录表

Group 1: Revenue and Product Overview - The revenue share of Tianbird's new products is primarily from prefabricated components, accounting for 90% of its product line, with the remaining 10% from carbon fiber cloth and prepreg materials [1] - The income from irregular prefabricated parts, mainly used in military applications, constitutes approximately 50% of the revenue [2] - Tianbird is the exclusive supplier of carbon brake disc prefabricated parts for military aircraft and has begun supplying for the C919 and ARJ21 models, with significant future revenue potential [2][5] Group 2: Growth and Capacity Expansion - The downstream growth rate for Tianbird's products is expected to maintain around 30%, with new capacity construction aimed at meeting increasing order demands [3] - Tianbird's production capacity is projected to increase from 200 million to 450 million, sufficient to meet rising demand [5] - The company anticipates stable growth in carbon brake disc demand due to the high replacement rate in military aircraft and the introduction of new commercial aircraft [5][6] Group 3: Market Trends and Future Outlook - The demand for carbon brake discs is expected to grow significantly in both military and civilian markets, with a long-term supply contract extending up to 20 years [5][6] - The trend towards using carbon brake discs in high-speed trains and heavy-duty trucks is anticipated to create substantial market opportunities [6] - The company is actively expanding its production capacity for civilian and ground transportation applications of carbon brake discs [6] Group 4: Financial Performance and Projections - After the acquisition, the profit of Dingli Technology increased from 30 million to over 65 million [3] - The current market share of copper processing is slightly above 10%, with expectations to reach 16% within three years through new projects [8] - The gross profit margin for copper processing is currently below 3%, with a target to exceed 5% through strategic competition and restructuring [8][9]