Securities code: Zhuzhou Times New Material Technology Co.Ltd(600458) securities abbreviation: Zhuzhou Times New Material Technology Co.Ltd(600458) Announcement No.: pro 2022015 Zhuzhou Times New Material Technology Co.Ltd(600458)
Announcement on recent research of reception institutions
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Zhuzhou Times New Material Technology Co.Ltd(600458) (hereinafter referred to as “the company”) has recently organized and received institutional research in the form of on-site research, telephone and online conference. The specific situation is announced as follows:
1、 Investigation
Batch survey method visitor unit Receptionist
Ping An stock site investigation 1
2. On site investigation Gf Securities Co.Ltd(000776) , Penghua Fund
3 on site investigation Founder Securities Co.Ltd(601901) , Citic Securities Company Limited(600030) Board Secretary Xia Zhi
4. On site investigation: Hou Binbin, deputy general manager of Huaxi Securities Co.Ltd(002926) , Everbright Securities Company Limited(601788) company
5 online research Tianfeng Securities Co.Ltd(601162) , China Securities Co.Ltd(601066) securities Commissioner Zhong Xiangliang 6 online research Zheshang Securities Co.Ltd(601878)
7 online research China Securities Co.Ltd(601066)
2、 Summary of the main questions exchanged and the company’s reply
(I) Mr. Xia Zhi, Secretary of the board of directors of the company, introduced the company’s basic situation, industry development, competition pattern, product development and other aspects.
(II) the company’s leaders communicated with investors on the following issues:
Question 1: is the company’s recent production and operation normal under the influence of the epidemic
Reply: at present, the company has actively taken effective measures to do a good job in normalized epidemic prevention and control, so as to ensure the normal development of various production and operation activities of the company. Up to now, the main production bases of the company are not in the epidemic prevention area, and all production and operation activities of the company are in normal state.
Question 2: how does the company view the application prospect of carbon fiber materials in large blades? What are the advantages of the company in the application of carbon fiber materials
Reply: we believe that with the continuous increase of the design power of the whole wind turbine, the application of carbon fiber materials will become an inevitable trend on wind turbine blades with a length of 100 meters and above in the future. In terms of performance, the application of carbon fiber materials is conducive to improve the overall performance of wind turbine blades, and can meet the requirements of blade lightweight in the design of wind turbine. The company already has mature carbon fiber material application technology, which has formed mass sales before; At present, batch orders have been obtained and are planned to be delivered in succession this year and next.
Question 3: how about the comparison of economic benefits of blades made of carbon fiber and pure glass fiber
Reply: the application of carbon fiber material has high technical difficulty, so it has advantages in product added value and gross profit margin compared with the blade made of pure glass fiber. The company believes that with the decline of the cost of carbon fiber materials and the continuous increase of the design power of the whole wind turbine, there is a large increase in the application of carbon fiber materials in wind turbine blades.
Question 4: what are the technical advantages of the company in the manufacturing of wind power blades
Reply: the company has strong competitiveness in wind power blade manufacturing, which is embodied in four aspects: material technology, pneumatic design, structural design and process technology. As a company with the core ability of material research and development, the company can develop alternative materials by itself and launch material substitution schemes in due time, such as replacing epoxy resin with polyurethane materials, and replacing basamol with PVC and PET materials. In terms of pneumatic design and structural design, the company is in the first echelon in the industry, and the market recognition of the design scheme is at the leading level. At present, the company is also strengthening the research and improvement of blade forming technology to further improve production efficiency and product quality.
Question 5: what is the capacity layout and future planning of the company’s blade production base
At present, most of the factories in Tianjin and Mengzhou of the company cover the whole country, including the factories in Zhuyang and Mengzhou. The company mainly carries out the business of wind power blades in the asset light operation mode, and the whole cycle of plant construction, production and delivery will be relatively short. In the later stage, the company will study and promote the capacity construction in Northeast, overseas, southwest, northwest and other places according to the traction of market projects.
Question 6: please introduce the company’s consideration on the future development of BOGO, Germany.
Reply: BOGO, a subsidiary of the company, is currently in a critical period of transformation. At the end of 2021, CRRC Zhuzhou Electric Locomotive Research Institute Co., Ltd., the controlling shareholder of the company, started to increase the capital of BOGO, Germany, to support its future transformation and development. The funds will be mainly used for: first, strengthen the restructuring, transfer the production capacity from high-cost areas to low-cost areas, and strengthen and expand the production capacity in the Asia Pacific region, especially in China; Second, support the development of new projects, product transformation, production line construction and delivery of new orders.
Question 7: what are the corresponding adjustments to the company’s organizational structure after the company becomes a first-class subsidiary of CRRC group
Reply: after becoming a first-class subsidiary of CRRC group, based on the needs of future development, the company has made targeted adjustments to the organizational structure. The company renamed the original technology center as material technology and Engineering Research Institute to strengthen the functions of cutting-edge technology research, technical support and Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) incubation; The new materials division has been established, which is positioned as the Incubation Platform of the company’s new materials industry, focusing on the development of the application of composite materials, polyurethane and other materials in the fields of vibration, noise reduction and lightweight; An industry and Engineering Division was established from the rail transit division to focus on resources and strengthen the development of industrial engineering fields such as line vibration reduction, bridge isolation and system vibration reduction.
It is hereby announced.
Zhuzhou Times New Material Technology Co.Ltd(600458) board of directors March 21, 2022
