The Market Prospect Of Several Companies In Carbon Fiber Industry

Chemical fiber, new material plate, many listed companies recently released the third quarter performance report. The reporter of China Textile News analyzed and sorted out the business situation of several companies in the carbon fiber industry, namely, three listed companies whose main business includes carbon fiber and two enterprises listed on the new third board. Their business situation is a strong reflection of the overall development of the subdivision industry.

If the polyester Market in the overall good market, there are still fluctuations in a certain period of time, then the domestic carbon fiber market since this year can only be described as "supply exceeds demand" and "sustained hot". In fact, this hot market has continued since last year, and has not yet been any relief. Benefited from this hot market, the domestic carbon fiber industry as a whole has handed over the most brilliant answer sheet since the industrialization -- the first three quarters of this year achieved a profit for the whole industry.

It is particularly noteworthy that since this year, due to the shortage of supply, the price of carbon fiber in the domestic market has continued to rise. Since the beginning of the year, the price of civil carbon fiber products has increased by 30% ~ 50%, and the price of military products has doubled or even increased even more. The sharp price rise, on the one hand, supported the net profit of some enterprises, but on the other hand, it also reduced the gross profit margin of carbon beam business.

According to the third quarter report of Weihai Guangwei composite materials Co., Ltd., in the first three quarters, the company achieved revenue of 1.963 billion yuan, with a year-on-year growth of 22.42%, and realized a net profit of 618 million yuan, a year-on-year increase of 17.89%.

In terms of business segment, during the period, the carbon fiber business of Weihai development Fiber Co., Ltd., a subsidiary, realized 1.048 billion yuan of income, up 18.02% year-on-year; The carbon beam business in the energy and new materials sector achieved revenue of 538 million yuan, a slight increase of 2.83% year-on-year. The prepreg business of general new materials continued to actively expand the application fields of aerospace, wind power and rail transit, and the proportion of high-end applications gradually increased. In the first three quarters, the revenue of prepreg business reached 287 million yuan, with a year-on-year increase of 81.92%.

"Carbon beam business income increased slightly, mainly due to the shortage of raw materials carbon fiber market supply, price rise, and exchange rate changes since this year, resulting in insufficient delivery of product orders, and the decline of product profitability." Guangwei composite materials related responsible person introduced.

It is worth noting that since this year, the "high strength and high model carbon fiber industrialization project" with M40J / m55j carbon fiber as the product has gradually expanded the output according to the actual demand; Since the second quarter, the production capacity of the "military civilian integration high strength carbon fiber high efficiency preparation technology industrialization project" with t700s / t800s carbon fiber as the product has been gradually released.

The reporter learned in the interview that the carbon fiber required by the wind power carbon beam business of Guangwei composite materials mainly relies on external procurement.

Li Taoyang, an analyst with CSCI, pointed out that Guangwei composite is one of the leading enterprises in China's carbon fiber industry. It has continued to strengthen investment in R & D and innovation, and has made remarkable achievements in research and development of new projects, new products and new technologies, and its performance growth in the first three quarters of this year is stable. In the future, with the continuous improvement of the company's product R & D technology and production capacity, the continuous large-scale demand for downstream equipment, the continuous growth of domestic carbon fiber demand, and the release of demand in wind power and other industrial fields, the company's military and civilian products business will maintain a stable growth. In particular, benefited from the dual impact of the acceleration of aviation equipment construction and the increase of composite material permeability, the revenue of Guangwei composite military products business is expected to maintain a rapid growth trend in the next few years.

The third quarter report of Jilin Carbon Valley Carbon Fiber Co., Ltd., an enterprise listed on the new third board, showed that in the first three quarters, the company achieved revenue of 723 million yuan, a year-on-year decrease of 18.23%, and the net profit attributable to shareholders of listed companies was 179 million yuan, with a year-on-year increase of 108.61%.

Talking about the reasons for the decline of the company's revenue in the first three quarters under the booming market, Jilin Carbon Valley said: "it is mainly due to the existence of acrylonitrile trading business from January to June 2020. Since June 2020, the company has no acrylonitrile trading business."

The data that can be referred to is that from July to September this year, Jilin Carbon Valley production and sales continued to increase, with a year-on-year growth of 72.03%.

According to the third quarter report of Zhongjian science and Technology Co., Ltd., in the first three quarters, the company achieved operating revenue of 300 million yuan, a year-on-year increase of 15.43%, and the net profit of 145 million yuan, a year-on-year increase of 10.29%.

In order to seize the market opportunity under the current hot market, various enterprises have accelerated the construction of new projects.

Jilin Chemical Fiber Co., Ltd. announced that on October 28, Jilin kaimeike Chemical Co., Ltd., its holding subsidiary, successfully started a production line with an annual output of 600 tons of 1K and 3K carbon fiber, and another production line is also under commissioning. It is understood that the project started construction in April this year, including two carbonization production lines with an annual output of 300 tons.

At present, the civil engineering of Guangwei Baotou project, with an annual production capacity of 4000 tons, has been basically completed, and the following will enter the preparation and installation stage of auxiliary works and equipment. "At present, the company's carbon beam business with carbon fiber resources shortage, the company is fully promoting Baotou project, as soon as possible to put into production, production capacity." Guangwei composite materials said.

Recently, China Jane science and technology also announced that it plans to invest 1.867 billion yuan in the construction of polyacrylonitrile precursor production line, oxidation and carbonization line, and carbon fiber fabric production workshop. After completion, the production capacity of 1500 tons (12K) high-performance carbon fiber and fabric will be formed.

The reporter also learned in the interview that at present, the production lines of domestic major carbon fiber manufacturers are in full load operation, and the production and sales of products are still booming, and the supply exceeds demand.

Talking about the supply of carbon fiber in the domestic market in the next step, an industry insiders said: "in the future, with the enhancement of China's low-cost carbon fiber supply capacity and the relaxation of Japan's embargo on T700 grade fiber in mainland China, the shortage of domestic carbon fiber supply may be alleviated to a certain extent. The specific price trend depends on the actual situation of the market."

Overall, it is expected that in the next 2-3 years, the prosperity of domestic carbon fiber market will continue, and domestic carbon fiber will usher in new development.

　　 "In the past two years, China's carbon fiber production has not only increased rapidly, but also achieved profit for the first time in the first half of this year. With the technological progress and demand growth of wind power, photovoltaic and transportation industries, high-performance fiber represented by carbon fiber will usher in a" golden age ". Technological progress will be accelerated and competition will be intensified. It is expected that the global carbon fiber industry will compete in the next 5-10 years The Bureau will change a lot, "Duan Xiaoping, vice president of China Textile Industry Federation, said at a recent global chemical fiber industry conference.

(source: China Textile News)

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