Wanshun New Material(SZ:300057)2022-12-03 08:58Group 1: Functional Film Business Development - The company operates 7 German roll-to-roll magnetron sputtering coating production lines, including one with double capacity, and 5 precision coating lines, covering a product width of 1200mm to 1570mm [3] - Key products include ITO conductive film, smart light control heat insulation film, liquid crystal dimming film, and high barrier film, with increasing market demand for high barrier films and PDLC films [3][4] - The company is focusing on the smart light control heat insulation film and energy-saving glass market, which is expected to drive future performance growth [3] Group 2: Nano Silver Film and High Barrier Film Projects - Nano silver film, developed last year, is suitable for large-size and flexible curved screens and is currently being stably supplied to downstream customers [4] - The high barrier film project, funded by convertible bonds, is under construction, with customized main equipment, targeting applications in optoelectronic devices and high-end packaging fields [4] Group 3: Energy-Saving Film Advantages and Market Strategy - The smart light control heat insulation film features automatic dimming based on sunlight intensity, with UV blocking rate > 99% and infrared blocking rate > 80%, making it a differentiated product [4] - The company is expanding its energy-saving film market, which is seen as a blue ocean, and is promoting green energy-saving buildings [5] - A new joint venture and acquisition aim to accelerate the application of smart light control energy-saving glass in new buildings, boosting sales of energy-saving films [5] Group 4: Aluminum Foil Business Development - Jiangsu Zhongji's aluminum foil has an annual capacity of 83,000 tons, with subsidiaries producing over 100,000 tons of aluminum sheet and strip [5] - The company has initiated a 42,000-ton high-end aluminum foil project in Anhui Meixin, targeting the sterile packaging market and other applications [5][6] - The global aluminum foil market was valued at approximately $40 billion in 2017, with a projected CAGR of 4.8% from 2017 to 2025 [6] Group 5: Paper Packaging Materials Business - The paper packaging materials business has a total capacity of 80,000 tons, primarily serving cigarette, liquor, and consumer product packaging clients, maintaining stability in recent years [6] - The company plans to focus future investments on new materials, particularly functional films, while maintaining steady cash flow and profits from paper packaging and aluminum foil businesses [6]