CHANGHAI(SZ:300196)2022-12-03 09:20Group 1: Impact of Trade War - The current impact of the US-China trade war on the company's fiberglass product exports is minimal [2] - If the US imposes tariffs on an additional $200 billion of Chinese goods, the future impact on the company is expected to be negative [2] - The company will closely monitor the trade war situation and accelerate overseas sales expansion in the fiberglass industry [2] Group 2: Inventory and Production - The company's fiberglass product inventory is effectively controlled, with structural adjustments leading to further optimization [4] - Sales of short-cut felt have increased this year, while the growth of waterproof thin felt products is limited [4] - The new 30,000-ton pool kiln is expected to have a cost reduction of approximately 20% compared to the old kiln once it reaches full production [4] Group 3: Market Demand and Applications - Direct yarn is primarily used in weaving, pipelines, and pultrusion, with the downstream mainly being fiberglass [4] - The company’s products are in high demand in automotive lightweighting, electronics, and construction materials, with rapid growth in these application areas [5] - The efficiency of the company's new pool kiln is significantly higher than that of Tianma Group's smaller kilns [5]