Yuefeng Aluminum Technology Co., Ltd. was released on December 3 in the Investor Relations Activity Record. The following are the main contents of the investor relations activities:
Q1: What is the overall shipment guidance for the fourth quarter of 2023 and the shipment situation for the full year of 2023?
A: Based on the fact that the fourth quarter is the traditional peak sales season, combined with the existing order situation, our guidance for the fourth quarter of 2023 is as follows: we expect the fourth quarter shipment growth to be 18-22% quarter-on-quarter. The overall shipment volume in 2023 will be about 470,000 tons. Next year, the shipments of photovoltaic aluminum components and aluminum profiles and new energy auto parts will continue to maintain a growth trend.
Question 2: What is the progress of the recycled aluminum project and the scale of production capacity next year?
Answer: The 600,000 tons of the fundraising project is expected to contribute about 150,000 tons of output next year, the company's own funds to build a 100,000-ton recycled aluminum project is expected to produce about 100,000 tons, and the output of recycled aluminum next year is about 250,000 tons, which will continue to provide new momentum for the company's raw material cost reduction. The recycled aluminum project is an important part of the company's upstream layout of the industrial chain, and it is in a leading position in terms of existing output and capacity planning.
Question 3: What is the situation of overseas production capacity construction?
A: Up to now, the projects in Malaysia and Vietnam have been implemented, and all work is continuing to advance, striving for early production. The project mainly supports the needs of downstream customers' overseas factories, and is relatively close to the overseas production bases of downstream customers.
Question 4: The expansion of new energy vehicle customers and future planning. What is the capacity utilization of 50,000 tons in the first phase of the new energy vehicle project?
Answer: the company actively explores the mainstream head customers in the industry, the company adheres to the strategy of large customers, and has formed a high-quality customer resource advantage.
In the new energy vehicle sector, the company will carry out the next step of planning according to the current customer development situation, keep up with the market, steadily promote business development, and continuously improve the company's core competitiveness in this field.
At present, it is in the stage of introducing customers, including but not limited to factory inspection, small batch sample delivery, etc., and is currently in the production capacity ramp-up period, and the first phase of the project is expected to form mass production by the end of the first quarter of 24. The second phase of the project is expected to complete the installation of equipment by the end of December 23.
Question 5: What is the source of raw materials for the company's recycled aluminum?
Answer: The raw materials of the project with an annual output of 600,000 tons of recycled aluminum are mainly aluminum scrap and aluminum ingots, and the annual demand for aluminum scrap is about 400,000 tons, in addition to the 100,000 tons of aluminum scrap generated in the company's annual production process, the annual demand for purchasing aluminum scrap is about 300,000 tons. The procurement sources of scrap aluminum of the project are mainly renewable resource recycling enterprises and aluminum processing enterprises in East China. The production and sales of aluminum in East China are concentrated, and there are nearly 60,000 renewable resource recycling enterprises engaged in scrap metal recycling. With the high social accumulation of aluminum, China's scrap aluminum recycling volume has increased year by year, the company is located in East China aluminum production and marketing concentration, regional advantages under the source of raw materials sufficient, in addition to China's resource recovery system continues to improve, to ensure the supply of raw materials for the recycled aluminum industry, the company's scrap aluminum source is sufficient and guaranteed. At the same time, the company actively carries out scrap aluminum recycling work to ensure production needs, and is also laying out foreign recycled aluminum resource recycling business.
Question 6: How do you view the impact of the continuous decline in the sales price of downstream modules on the company, and how do you view the certainty of the company's performance growth under the premise that the PV may slow down next year?
A: On the one hand, the decline in module prices will further stimulate the demand for downstream photovoltaic power generation installations, and on the other hand, it will force enterprises to reduce costs and increase efficiency.
In the fourth quarter of 2023, the company's share of leading module factories is in the leading position in the industry, and its stickiness with major customers has gradually increased.
Question 7: How to view the substitution risk of aluminum frames, such as composite frames, rubber buckle frames and steel frames?
First of all, the aluminum frame has low density, easy strengthening, good conductivity, high plasticity, easy surface treatment, strong corrosion resistance, strong weather resistance, long service life, beautiful appearance, convenient transportation and installation, and easy to recycle, and the recycling value ratio is as high as 95%. Composite frame from 2012 manufacturers to develop related products, due to its polymer material characteristics limitations, in practical application is prone to aging, especially in the component incision is more obvious, at the same time, the composite material production efficiency is low, the investment is large, the comprehensive cost is high, has not been accepted by the mainstream component manufacturers, its application scenarios are limited, there is still a long way to go. Rubber buckle frame: Firstly, the increase in the size of mainstream components has higher and higher requirements for the load performance of the frame, and the potential for improving the load capacity of the buckle rubber frame is limited; secondly, whether the service life of the buckle frame can reach 25 years has not been verified, and it is difficult to become a mainstream product in the short term. Steel frame: The carbon emission factor of the aluminum frame is only 52.35% of the steel frame, and the carbon emission of recycled aluminum is 22.3% of that of recycled steel, and the recovery rate of the steel frame is only at the level of 55%-65%, and the recovery value ratio is only about 22%; Although there are different technical routes such as steel frame and glass fiber composite frame in the market, they have not been widely adopted and accepted by mainstream manufacturers, and there are certain technical problems, such as the high density of steel material, which increases the load-bearing risk, the poor load capacity of rubber buckle material and the problem of bursting plate, the low production efficiency of glass fiber material and non-recyclable, etc., and its comprehensive performance still needs a long time and large-scale application verification. In a short period of time, it is difficult for other frame materials to shake the position of aluminum alloy as the main photovoltaic frame material, and the risk of aluminum alloy being infiltrated as the main photovoltaic frame material is low.
(www.profiles-aluminum.com; sales@profiles-aluminum.com).
