Point-to-point in-depth visits to downstream customers have been stagnant for a period of time, and the delivery of a small number of orders to the European market has been delayed. The operating performance in the first half of the year will inevitably be affected to a certain extent…
Since this year, the new crown pneumonia epidemic has successively affected The outbreak in many countries around the world has indeed brought some adverse effects to the operations of my country’s carbon fiber industry and enterprises. Taking multiple measures to deal with the current severe situation is naturally a top priority, but obviously, the upgrading and development of any industry, the business strategy and strategic layout of any company cannot only focus on the present.
After all, the impact of the epidemic is only temporary. my country’s epidemic prevention and control has now entered the “normalization” stage, and the operational order of the textile and chemical fiber industry is accelerating its recovery. From the perspective of the development stages of the industry itself, after more than ten years of continuous accumulation and improvement in equipment support, technological breakthroughs, scale growth, downstream application market development and other aspects, at this stage, my country’s carbon fiber industry as a whole is in the A new era of rapid development.
At this stage, what is the operating situation of my country’s leading carbon fiber companies? What are the differences in the ideas and performance of different companies? What new characteristics does the market as a whole highlight? Which trends should companies seize to accumulate momentum for subsequent development? Recently, reporters from China Textile News conducted interviews with a number of domestic carbon fiber companies.
Enterprise military industry orders are in hand
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Stable profits throughout the year are guaranteed
As a strategic material involved in the national defense and military industries, carbon fiber and its composite materials have always been the main players in the aerospace field. Downstream application focus. Although sports and leisure use still accounts for the majority of the domestic carbon fiber application market, in recent years, several leading companies, with Weihai Guangwei Composite Materials Co., Ltd. (hereinafter referred to as “Guangwei Composite Materials”) as typical representatives The company’s series of breakthroughs and achievements in the military market have become a highlight of the development of domestic carbon fiber and an important driving force for the company’s continued growth.
Guangwei Composite Advanced Composite Materials R&D Center has previously successfully delivered the AV500BC UAV platform to the Aviation Industry Helicopter Design Institute.
On May 20, the AR500C prototype unmanned helicopter independently developed and designed by my country successfully achieved its first flight. (Picture source: Aviation Industry Helicopter Institute)
According to the “2019 Global Carbon Fiber Composite Materials Market Report (hereinafter referred to as the “Report”)” released by Guangzhou Sail Carbon Fiber Technology Co., Ltd. and widely recognized by the industry, my country Among the total demand for carbon fiber market in 2019, the aerospace consumption was approximately 1,400 tons, accounting for approximately 3.7%.
Especially in this year’s complex and severe situation, military industry orders have played a role in stabilizing performance and boosting confidence. On April 3 this year, Guangwei Composite Materials announced that the company’s wholly-owned subsidiary Weihai Tuantu Fiber Co., Ltd. signed two “Ordering Contracts for Weaponry and Equipment Supporting Products” with Customer A. The subject matter of the contract is carbon fiber and fabrics. The total amount of the two contracts is 997.7262 million yuan, accounting for 58% of the company’s audited operating income in the most recent fiscal year. Calculated based on the current execution amount (after tax) of the order contract signed between Guangwei Composite Materials and Customer A, this year has increased by 24.79% year-on-year. After “acquiring” this military order, it will have a positive impact on Guangwei Composite Materials’ revenue and net profit for the whole year of 2020.
Guangwei Composite Materials has adhered to the “two high and one low” carbon fiber development strategy of high strength, high modulus and low cost in recent years, and gradually built a “shelf-type” carbon fiber product supply capability. At present, its main product series include GQ3522 (T300 level), GQ4522 (T700 level), QZ5526 (T800 level), QZ6026 (T1000 level), QM4035 (M40J level), QM4050 (M55J level), etc. In fact, Guangwei Composite Materials is the main supplier of carbon fiber for my country’s aerospace industry, and sales of military carbon fiber and fabrics are one of its main sources of revenue.
Guangwei Composite’s carbon fiber and fabric business has maintained steady growth for many years. In 2019, the sales revenue of this business was 798 million yuan, a year-on-year increase of 32.33%; in 2018, the company’s military product revenue was 603 million yuan. , a year-on-year increase of 21.22%, accounting for 44.22% of total revenue.
Since the beginning of this year, the new coronavirus pneumonia epidemic has broken out in different countries around the world. While doing a good job in epidemic prevention and control, Guangwei Composite Materials has actively taken various measures to promote the resumption of work and production and strive to cope with the adverse effects of the epidemic. The first quarter report released on April 28 showed that during the period, the company achieved revenue of 488 million yuan, a year-on-year increase of 12.31%; the net profit attributable to shareholders of the listed company was 172 million yuan, a year-on-year increase of 8.28%. Guangwei Composite Materials said that in the first quarter, the company’s carbon fiber business achieved sales revenue of 290 million yuan, a year-on-year increase of 32.29% due to the increase in demand from major customers and the increase in contribution from civilian fiber.
Su Chen, an analyst at Zhongtai Securities, said that the carbon fiber industry is currently in the ascendant.��Jiangsu Aosheng Composite Materials Technology Co., Ltd. in Wujiang District, Suzhou City has successfully seized the opportunity of the rapid rise of the market. Yan Bing, the company’s technical director, said: “In 2019, the company’s product sales doubled, and the proportion used in the wind power market accounted for about 89%. Of the total consumption of more than 12,000 tons of carbon fiber in the province, our company alone used it More than 7,000 tons.”
Lin Gang said: “Obviously, the rapid growth in the use of wind turbine blades in recent years has brought rare development opportunities to my country’s carbon fiber companies.”
It is precisely because of the outstanding performance of large-tow carbon fiber in the wind power market and driven by the “invisible hand” of the market that the domestic carbon fiber market has ushered in a new round of investment.
On July 19, 2019, Guangwei Composite Materials announced that it has cooperated with Party A, Jiuyuan District People’s Government of Baotou City, Inner Mongolia, Jiuyuan Industrial Park Management Committee, and Party C, Vestas Wind Technology (China) Co., Ltd. signed an agreement to build a “10,000-ton carbon fiber industrialization project” in three phases in Baotou.
In March this year, Shanghai Petrochemical announced that it planned to invest 3.5 billion yuan to build a 24,000 tons/year carbon fiber raw filament and a 12,000 tons/year 48K large tow carbon fiber project. Lanzhou Blue Star Fiber Co., Ltd. also announced in March that it will build a second-phase project in Yiyuan County, Zibo, Shandong, with an annual output of 50,000 tons of raw yarn and 25,000 tons of carbon yarn. In addition, many companies and regions such as Zhangjiakou Xingke Carbon Dingxin Materials and Gansu Zhangye Carbon Valley have also announced new carbon fiber projects.
“Since 2019, the overall style of China’s carbon fiber industry has been ‘heavy expansion’ and ‘capital restructuring’. From the perspective of the global carbon fiber market, China’s carbon fiber market share in 2019 has increased from 22.8 in 2018. % has climbed to 31.7%, which is gratifying. This is closely related to the company’s hard work over the years to improve quality and reduce costs. From a price point of view, in 2019, due to the shortage of large tow supply in the international market and the shortage of carbon fiber in China With the continuous improvement of the level of industrial cost control, China’s carbon fiber prices and international product prices have basically reached an equilibrium state, which has made it possible to export China’s carbon fiber and its products in batches. Coupled with China’s relevant adjustments in the export tax rebate rate, carbon fiber companies can consider Seize the opportunity and expand overseas market development. We predict that around 2025, domestic carbon fiber sales are expected to exceed imported sales,” Lin Gang said.
Talking about how China’s carbon fiber industry and enterprises can further enhance their competitiveness, Lin Gang said: “The key is to grasp the four words of ‘stabilize quality and reduce costs’. At this stage, the industry has solved the problem of ‘from There is a problem of “making something out of nothing”, but under the conditions of industrial scale production, problems that need to be improved in product performance and quality stability are still common, and the cost is generally higher than the international level. Therefore, cost reduction and efficiency improvement will become a key issue in the future. The main issues facing the industry can be divided into three steps – developing low-cost large tows, developing low-cost and high-performance small tows, and developing low-cost and high-performance large tows. At the grand strategic level, the next step stage, China’s carbon fiber industry should no longer blindly follow the product development path of international companies, but urgently needs to independently lay out the next generation of carbon fiber technology, conduct underlying technology research and breakthroughs, strengthen basic scientific research, and contribute to the further development of the world’s carbon fiber industry civilization. Elements.”</p
