Senior(SZ:300568)2022-12-05 06:34Group 1: Company Overview - The company is Shenzhen Xingyuan Material Technology Co., Ltd., with stock code 300568 and abbreviation Xingyuan Material [1] - The investor relations activity took place on March 15, 2017, in the company's first-floor conference room [2] Group 2: Production and Market Conditions - In 2016, the company experienced a cautious capacity expansion before its IPO, while demand for wet-process separators exceeded current production capacity [3] - Product prices are expected to decrease by 10-15% compared to the same period last year due to market conditions [3] - The average yield for dry-process separators is 40-50%, while for wet-process separators it is 50-60% [4] Group 3: Performance and Challenges - The decline in Q1 2017 performance was attributed to reduced demand from battery manufacturers due to changes in subsidy policies for new energy vehicles [4] - The company's performance trend in 2017 is expected to be low initially and improve later, contrasting with the previous year's performance [4] Group 4: Capacity Expansion Plans - The Hefei Xingyuan Phase I project is expected to add 35-40 million square meters of wet-process separator capacity in the first half of 2017 [4] - A new project in Changzhou is projected to achieve an annual production capacity of 360 million square meters of lithium battery separators upon completion [4] Group 5: Customer Base and Market Strategy - Major customers include LG, BYD, and Guoxuan High-Tech, with both dry and wet-process customers being largely consistent [5] - The company aims to balance its production line structure to meet the demands of major clients like LG and BYD [5] - The company collaborates with CATL on a project but currently cannot supply wet-process separators due to capacity constraints [5]