YANTAI TAYHO(SZ:002254)2024-01-26 00:28Group 1: Product Performance - The sales of several leading products have increased, with aramid fiber growth reaching approximately 20% [2] - The aramid fiber production capacity was about 26,000 tons by the end of last year [2] - The overall gross profit margin has not changed significantly despite price adjustments in some areas [2] Group 2: Market Conditions - The main factors affecting aramid technology exports are the end of the pandemic and the intensity of the Russia-Ukraine conflict [3] - Domestic aramid expansion is primarily focused on low-end sectors, with challenges in entering mid-to-high-end markets [3] Group 3: Future Outlook - The company expects a reduction in losses for spandex in 2024, with aramid sales anticipated to improve compared to 2023 [4] - The first workshop for aramid coating is expected to begin construction in Q1 2024, with initial production estimated in Q3 2024 [3] Group 4: Customer Engagement - Current engagements include small orders, with larger orders under negotiation, primarily with domestic clients [3] - The demand for green dyeing is driven by major brands seeking to enhance their image through ESG initiatives, with no additional costs for customers [4] Group 5: Financial Policies - The company's dividend policy has been stable historically, with future increases dependent on profitability [4] - There are no specific plans for refinancing or external acquisitions at this time, although potential directions are being considered [4]