News summary
Carbon fiber prices may continue to declineaccidentgame, raw silk companies focus on Jilin Carbon Valley. Demand for folding screen mobile phones is strong, and upstream materials companies Shiming Technology and Kaisheng Technology are optimistic. Photovoltaic demand is growing, and new materials in the era of wind power blades have broad prospects. Risk Warningaccidentgame: Downstream demand, industry pattern, raw material prices.
Newsletter text
[Carbon Fiber Market Status and Outlook] The price of T300 large-tow carbon fiber may have hit bottom at present, but the accelerated growth of manufacturers 'production capacity may trigger a price war. The number of companies in the raw silk field is limited. Companies such as Jilin Carbon Valley, Shanghai Petrochemical and Blue Star have mastered core technologies, and there is little room for price decline, which is worthy of investors 'attention.
In the field of civilian products T700, Zhongfu Shenying and Changsheng Technology are the main producers. Zhongfu Shenying with 2accidentgame.850,000 tons of production capacity leads, while Changsheng Technology's production capacity is only 1800 tons. Zhongfu Shenying also has a production capacity expansion plan of 30,000 tons in the future. As downstream markets such as carbon composites and hydrogen cylinders continue to be hot, it is expected to drive steady growth in the company's performance. It is recommended to pay attention to the progress of its prepreg business.
[Investment Opportunities in Display Materials] Folding-screen mobile phones still maintained rapid growth during the downturn in the consumer electronics market, and demand in the UTG link was strong. As industry prices fall, demand is expected to further expand, driving a positive cycle. It is expected that the penetration rate of folding-screen mobile phones will continue to increase in the next 3-5 years, and key links in the industrial chain will continue to receive premiums. The substitution logic of domestic photoresists and high-frequency and high-speed CCL upstream raw materials is also worthy of attention. It is recommended to pay attention to Shiming Technology and Kaisheng Technology.
[Development Trend of New Energy Materials] Downstream demand in the photovoltaic industry maintains rapid growth, but the rapid expansion of the industrial chain may need to wait for the market to clear. In the field of wind power, offshore wind power has overcome obstacles such as cost and begun to develop on a large scale, and is expected to grow significantly from 2024. The concentration of wind power blade links is high. As a key recommendation company, Times New Materials is expected to gain more opportunities from overseas markets.
Risk warning: Be alert to risk factors such as downstream demand falling short of expectations, deteriorating industry structure, and rising raw material prices exceeding expectations.