SCDC Advanced Materials Technology Group: After the new project is put into production, it will contribute 100,000 tons of production capacity. SCDC will break the monopoly of Japan and South Korea in the field of insulation materials, and its net profit will increase by more than 130% in 2020.
SCDC is a leading company in China's insulating materials, extending traditional insulating materials and insulating resin technologies to high-profit and high-value-added applications such as optical films and special resins, which has fully opened up room for growth.
SCDC is deeply involved in insulating polyester film and insulating resin technology. In recent years, the company has extended polyester film technology to the field of optical films, and extended insulating resin technology to the field of special resins, the key raw material of 5G communication high-frequency and high-speed copper clad laminates, forming a "1+3" product layout.
Based on insulation resin precipitation, develop special resin business. As the global PCB production capacity continues to shift to China, China has become the world's largest PCB production center, and there is huge room for raw material resins.
Continue to expand the field of new materials, this year's net profit will greatly increase by more than 130%
In the first half of 2020, SCDC insulation materials accounted for 70.3% of revenue, optical films accounted for 15.7%, and electronic materials accounted for 6.5%. The product structure continued to be optimized.
After the company's investment of 800 million yuan is put into production, the total production capacity of optical film will be 100,000 tons per year. In the future, under the continuous domestic substitution in the fields of optical film and electronic resin, the company is expected to enter a high-speed growth period. In 2020, the company's net profit attributable to the parent is expected to increase by 137.1%.
Benefiting from the increase in photovoltaic penetration, PET base film revenue will accelerate growth
By 2050, the photovoltaic penetration rate will reach 25%, which is 10 times higher than the current penetration rate. It is predicted that the photovoltaic installed capacity will reach 8519GW by 2050, which will drive the demand for PET base film.
The PET base film mainly plays the role of insulation and support in solar cells. SCDC is one of the earliest major manufacturers of solar backsheet base film in China. Its main product is solar backsheet polyester base film. It has R&D and production advantages and has a solid position in the industry. Its products use polyester chips as the main raw material. Domestic demand for photovoltaics rebounded, export demand increased, and the company's solar backsheet PET base film business grew rapidly.
Carry out CCL resin business, which is expected to realize import substitution
According to Prismark, driven by downstream PCB demand, between 2009 and 2018, the total output value of global copper clad laminates increased from US$6.822 billion to US$12.402 billion. As the commercial implementation of 5G drives further growth in communications, and the steady growth of consumer electronics and automotive electronics markets, the copper clad laminate industry will continue to grow steadily.
The global CCL production capacity is dominated by FR-4, and epoxy resin is its key raw material. SCDC relies on the accumulation of insulation material technology to develop copper clad laminate resin business, and plans to invest 240 million yuan to build 5,200 tons of resin and 60,000 tons of special epoxy resin. The market size of high-end electronic resins is expected to be in the tens of billions. At present, high-end electronic resins for high-frequency and high-speed copper clad laminates are still mainly imported. The hydrocarbon resins and maleimide resins developed by the company are expected to seize the opportunity of import substitution.
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