Senior(SZ:300568)2022-12-05 06:20Group 1: Market Trends and Pricing - The price of separator products is expected to continue its downward trend, with a decrease of approximately 10-15% anticipated, although the decline will eventually slow down [3] - The company aims to maintain its gross margin through cost control, improved internal management, ongoing R&D investment, and enhanced production techniques, ensuring that the cost reduction outpaces the price decline [3] Group 2: Product Differentiation - The differentiation between low-end and high-end separator products is primarily based on customer requirements and battery preparation systems, with the company customizing production processes accordingly [3] - The company's product advantages lie in consistency and stability, which meet the demands of mid-to-high-end customers [3] Group 3: Capacity Expansion and Market Concerns - There are concerns about potential overcapacity in the low-end market, while the mid-to-high-end market presents significant opportunities for replacing imports [4] - The company has been cautious with capacity expansion prior to its IPO, and current demand for wet-process separators exceeds its production capacity [4] Group 4: Strategic Partnerships and Client Development - The joint venture with Guoxuan is focused on ensuring supply to Guoxuan, with pricing based on market negotiations to ensure fairness [4] - Due to capacity constraints, the company is currently engaging in technical collaborations and small-scale supply with certain clients, while actively pursuing partnerships with major companies like Samsung and Tesla [4] Group 5: Future Development Strategy - The company's mission is to become the best functional membrane manufacturer globally, with lithium-ion battery separators being one of its product lines [4] - The company plans to increase investment and R&D in the lithium-ion battery separator field while also expanding into other high-end functional membrane areas [4] Group 6: Production Methods - Both wet and dry processes will coexist for a considerable time, with the company adapting its product structure based on customer strategic developments [5]