Securities code: Changsha Dialine New Material Sci.&Tech.Co.Ltd(300700) securities abbreviation: Changsha Dialine New Material Sci.&Tech.Co.Ltd(300700) Announcement No.: 202208
Bond Code: 123024 bond abbreviation: Dale convertible bond
Changsha Dialine New Material Sci.&Tech.Co.Ltd(300700)
Record of investor relations activities
No.: 202208
Investor related □ specific object research □ analyst meeting
Activity □ media interview □ performance briefing
Other □ press conference □ Roadshow
□ site visit □ others: teleconference
16:00-17:00, March 2, 2022 (Wednesday)
China Securities Co.Ltd(601066) securities
13:30-14:30, March 3, 2022 (Thursday)
Participants Northeast Securities Co.Ltd(000686) , Shanghai Investment Bank
Name: 10:00-12:00, March 4, 2022 (Friday)
Hangzhou Zheshi Investment Management Co., Ltd., rpower, triumph capital, value partners, WT capital, Caixin industrial fund, Caixin securities, cloud investment, Daxin investment, Gaoxin Bainuo, Guanfu assets, Guoyuan Securities Company Limited(000728) , Heqing capital, Huatai Bairui fund, South Fund, Ping An Securities, Qianhai United fund, Qingyong assets, Shenwan Hongyuan Group Co.Ltd(000166) asset management Zeyuan assets, China International Capital Corporation Limited(601995) , Citic Securities Company Limited(600030) , CITIC asset management
Wednesday, March 2, 2022
Time: Thursday, March 3, 2022
Friday, March 4, 2022
Location: company headquarters
listed company
RECEPTIONIST: Board Secretary & Chief Financial Officer Zhou Jiahua
full name
Company profile
Founded in 2009, the company has been engaged in the R & D, production, sales and service of diamond lines since its establishment. It is the first enterprise in China to carry out the industrialization of diamond lines. It was listed on the Shenzhen Stock Exchange in September 2017. After more than ten years of investment, the company has a wide range of application fields and complete categories of diamond lines, which can be used in photovoltaic, sapphire It is the field of upgrading the main electronic consumer goods and some emerging traditional processing methods. The company is committed to becoming a world-class comprehensive service provider of hard and brittle materials processing consumables, providing professional tools and complete solutions for the cutting of hard and brittle materials such as crystalline silicon, sapphire, precision ceramics and magnetic materials.
Since the listing of the company, great changes have taken place in the Vajra line industry in recent years. Especially after the introduction of the photovoltaic "531" new deal in 2018, the technical requirements of the photovoltaic industry for Vajra line have been rapidly improved, the product upgrading and iteration have been accelerated, and the company's production capacity has not been effectively improved, Therefore, the company's performance in recent years is not very good.
In the second half of 2021, the company's production equipment has been fully transformed and upgraded, and the convertible bond raised investment project Zhuzhou Dale
The project will be closed in the second half of 2021 and the production capacity will be released gradually. Based on the above situation, the company launched equity incentive for employees in December 2021, so as to boost the confidence of employees and promote the better development of the company in the future; Secondly, in December 2021, the second largest shareholder of the company voluntarily resigned as a director of the company due to personal reasons and considering that he did not have enough energy to invest in the company's business decision-making and management, and terminated the relationship of persons acting in concert. After the relationship of acting in concert was terminated, in view of the fact that the proportion of major shareholders in the company's shares is not very high, in order to improve the corporate governance structure and consolidate the controlling position of major shareholders, In January 2022, the company launched a fixed growth plan for major shareholders, which also provides financial guarantee for the subsequent development of the company. Q & AQ1. Who provides the tungsten wire of the company? What are the cutting times or consumption ratio of cutting silicon wafer with tungsten wire or carbon steel wire as bus? Would tungsten wire be better in a larger size?
A: at present, China tungsten and Xiamen tungsten are the two main tungsten wires that can be made in China, and some enterprises are also starting to supply them in small quantities. The main purpose of using tungsten wire to replace carbon steel wire is to solve the problem of thin wire. Whether tungsten wire can completely replace carbon steel wire needs to be verified in the follow-up market. There are several key problems to be solved: the first is the problem of tungsten raw materials. The strength of ordinary tungsten wires is not enough, especially the tungsten materials needed to pull out finer tungsten wires that meet the demand in the future; The second is the cost of tungsten wire, which is about 4-5 times that of carbon steel wire.
At present, tungsten wire may be reused.
Because tungsten wire substrate performs better than carbon steel material in terms of rigidity in the cutting process, it performs better than carbon steel in terms of cutting ability. Q2. Capacity of the company? How long is the expansion cycle?
A: in the same period last year, the company's production capacity was about 200000 km / month. At present, the company's existing scale has reached 1 million km / month. Through technology upgrading and process optimization, there may be about 30% room for improvement of the existing equipment; Secondly, the subsequent companies will determine the specific scale of production expansion according to the needs of customers. If the production is expanded in the future, the cycle will be about 3-5 months. Q3. Do mainstream customers basically supply less than 40um now? What is the current mainstream model? Is there a 12 wire machine? What is the latest prototype model? Is there a big difference in the price of different wire diameters? Will the cost be reduced if the specification becomes thinner? Is the wire diameter thinning driven downstream or? Is the technology of wire diameter thinning on the bus side or on our side?
A: the mainstream customer specifications are now basically 38um-40um. At present, the mainstream models of the company are mainly 8-wire machines. If the production is expanded in the future, it is a new model of 12-15 lines.
The prices of products with different wire diameters will be somewhat different, and the lower the price, the higher the price will be. At present, the market price is basically stable, and the price conversion is mainly balanced by specification replacement.
The trend of downstream application of diamond wire diameter thinning. The thinning of wire diameter will improve the yield of silicon wafer. At the same time, the thinning of silicon wafer also requires the thinning of wire diameter.
Thin wire technology should be linkage. The origin of demand lies in silicon wafer processing enterprises. Silicon wafer enterprises are developing in the direction of thin wire and sheet. Diamond wire enterprises and upstream wire drawing enterprises need to do a good job of coordination, and no link can be realized without it.
Q4. Does the diamond line still have a downward trend every year?
A: in the photovoltaic silicon slice, the price was relatively high in the early 18th and the current price is about one-fifth of the previous level. In recent years, the decline has been smaller and smaller, and at present, it has basically maintained a relatively stable level. The price is maintained mainly through the conversion of product specifications.
Q5. It is said that the company's equipment is developed by itself. Is it possible to consider making the equipment by yourself later? Was the first model designed in China or overseas?
A: the company's equipment is designed by itself, and then commissioned others to process and assemble by themselves. It will not process the equipment by itself. This is also the result of Dale's technology research and development in the field of diamond wire for more than ten years.
From the earliest days, Dale designed and commissioned the processing and manufacturing of the equipment, because there was no object to refer to in the early days. Q6. Is there any capital operation plan in the later stage?
A: the company has a complete range of diamond wire products. This year, the company should first do a good job and stabilize the diamond wire products used in the photovoltaic industry, and timely expand the production according to the development trend of the industry; Secondly, the company is also extending its products to some traditional fields, such as stone, jade, graphite, metal materials and so on. It selects fields with great potential for development in the future, such as stone and metal materials. By expanding and extending diamond thread products in many fields, the company will further expand and strengthen the diamond thread industry.
In addition, after the company has the conditions, it will continue to develop the second and third main products around the new energy and new material industries to ensure that the enterprise can continue to grow and become stronger in the future. If there is a specific plan in the future, the company will announce it in time. Q7. What are the company's main customers? At present, the production capacity is expanded to 1 million km / month. What are the main incremental parts? What is the current monthly production situation of the company?
A: at present, the company has full orders. In terms of photovoltaic, poly GCL system accounts for the highest proportion temporarily, and others include Longji, Beijing Jingyuntong Technology Co.Ltd(601908) , Shangji, Yuze, Youda, etc. Although the company currently has a production capacity of 1 million km / month, in fact, this ratio is not large in absolute terms, and there is still some gap compared with the total demand of a single customer. Therefore, it is not difficult to digest the company's production capacity increment at present. At present, the company's monthly production has basically reached full capacity, and the demand for subsequent capacity improvement or expansion is becoming more and more prominent. Q8. How is the company's production expansion plan planned? Do you have a specific plan for the next step?
A: there are two main ways for the company to improve its production capacity. One is to improve the efficiency of the existing equipment itself. There is still about 30% room to improve the production capacity of the company's existing equipment through process optimization; The other is that the company will expand its production through new production lines. New equipment will be applied to the new production lines, that is, line machines with more than 12 machines. At present, the new models have been put in place and have been put into trial use. As for the specific capacity expansion of subsequent companies, it should be determined according to the subsequent order requirements of new and old customers of the company. If the expansion plan is determined, the production capacity can be gradually formed in 3-5 months. Q9. Will the company's business model in the future only produce Vajra line, or will it carry out service fields like Gaokao? If we expand the second main business, what aspects should we focus on?
A: the company started as diamond wire consumables. The company itself does not have cutting machine technology. Therefore, in addition to deepening cooperation with downstream customers, we may extend diamond wire to other new application fields, that is, in addition to photovoltaic industry, we should expand diamond wire in other application fields. At present, the company has a complete range of diamond wire products, The application field of diamond wire extension is also broad, and the cutting and upgrading in the traditional field is also in the forefront.
To expand the second main business, one is the application of diamond wire in new fields, including cooperative processing with customers. The second is to expand in the field of new materials, that is, some materials in the field of new energy, and such materials in the field of power battery or energy storage are not excluded.
Q10. What is the latest prototype of the company? What is the mainstream model of the company now? Will line 8 to line 15 affect the quality of diamond thread? Will the number of lines in the company be increased to 15?
A: the company's latest prototype is 15 wire, and now the company's mainstream model is mainly 8-wire.
The improvement of the number of wires and the quality of diamond wire are not causal. The improvement of the number of wires is mainly to reduce the investment cost and improve the man-machine efficiency. If the quality of diamond wire decreases, this wire machine can not be taken. Therefore, whether it is 15 lines or 8 lines, the yield will remain at the same level.
It is not necessarily changed to line 15, but it can be increased. For example, line 8 machine is increased to line 11 or line 12, and line 6 machine is increased to line 9 or line 11.
Q11. What do customers value most when purchasing? If it goes well, how long will it take to send samples to new customers for mass supply?
A: the most important thing for customers is the stability of products. Quality stability is related to quantity, followed by large-scale stable supply capacity. The validation period of new specifications is about one or two months.
Q12. Are sapphires basically diamond wire cut? What is the demand for sapphire?
A: sapphire was first cut with diamond thread instead of traditional cutting method. At present, it is cut with diamond thread. At present, the increment of sapphire line is not obvious (mainly led and electronic consumer goods). If there are new explosive points in the future, such as 5g and other electronic consumer goods (such as mobile phone screen and backplane) will have a great opportunity to develop in the direction of sapphire or ceramics.
Q13. Semiconductor cutting?
A: at present, the company supplies diamond wire for cutting some semiconductor customers.
Annex list none (if any)
Date: March 4, 2022
