GW COMPOS(SZ:300699)2022-12-04 09:30Group 1: Standardization Challenges - The standardization of carbon fiber and composite materials faces significant challenges due to the inherent differences from homogeneous and isotropic metal materials, making it unrealistic to expect similar standardization and application [2][3] - Despite having a unified national standard for domestic carbon fiber, variations in technical performance among manufacturers can significantly affect usage and effectiveness, highlighting the importance of the manufacturer and source [3] Group 2: Development of Carbon Fiber Industry - Weihai has established a carbon fiber industrial park aimed at achieving industry chain aggregation and becoming a leading national hub for carbon fiber and composite materials, with several projects already in place [4] - The company is currently focusing on development in sectors such as wind power, pressure vessels, rail transportation, aerospace, and building reinforcement [4] Group 3: Market Applications and Challenges - Carbon fiber applications in the automotive sector remain limited, primarily due to technical and production barriers, with further research and development needed for broader adoption [5] - The carbon beam business experienced a decline in Q1 due to the pandemic, but domestic operations have returned to normal in Q2, while overseas shipments, particularly to Europe, remain paused, affecting about 5% of operations [5] Group 4: Project Developments - The Baotou project is currently in the land bidding preparation stage, with other preparatory work proceeding normally [6] - After the Baotou project is operational, the company plans to balance the procurement and self-production of large tow fibers, ensuring a stable supply for carbon beam business while exploring higher value-added applications [6] Group 5: Business Share and Future Directions - The company's carbon beam business accounts for approximately 30% of Vestas' business, with hopes to expand its role as domestic wind power enterprises develop [6] - The primary direction for carbon fiber business development includes aerospace and domestic large aircraft, with a focus on expanding downstream application markets for composite materials [7]