海利得(002206) - 2018年8月10日投资者关系活动记录表

Group 1: Company Expansion and Investment - The company is establishing a factory in Vietnam to mitigate risks associated with anti-dumping and tariffs, leveraging Vietnam's geographical and cost advantages [2] - Total investment for the Vietnam factory is $15.5 million, with a planned capacity of 110,000 tons of differentiated polyester filament, expected to begin partial production in Q2 2020 [2] Group 2: Shareholder Changes - Wanxiang Venture has reduced its stake to below 5%, no longer being a major shareholder, with the reduction plan having expired on July 31, 2018 [2] Group 3: Capital Expenditure and Financial Health - The company's capital expenditures include the upcoming production of 200,000 tons of polyester capacity and 15,000 tons of tarpaulin capacity, along with a 12,000-ton airbag yarn project expected to launch by the end of next year [2] - The company maintains good operating cash flow and a low debt-to-asset ratio, ensuring that the semi-annual dividend will not impact capital expenditures [2] Group 4: Impact of Trade Policies - The company primarily produces automotive products, and supplier changes require a long certification process, making short-term impacts from the US-China trade war minimal [2] - Approximately 70% of global industrial yarn capacity is in China, with no corresponding capacity available abroad for the US market, indicating a lengthy timeline for new capacity and product certification [2] - The company is expediting the construction of its Vietnam project to potentially replace its US market supply in the future [2]