With the stabilization of the domestic new crown epidemic, the mask industry chain that was once sought after by the market continues to cool. There have been reports that the price of meltblown cloth has plummeted by more than 90%. However, even so, most listed companies engaged in the production of meltblown cloth may have already lost their pockets, and some companies' performance in the first quarter of this year has even exceeded that of last year.

　　 Although the current market is getting colder, the domestic meltblown cloth manufacturers still have a profit, but for the future market, most companies say that it is impossible to predict, and it depends on the development of the epidemic. For the entire industry, the director of the sales department of a non-woven fabric company in Anhui said that the current market is not as hot as the previous two months, but many types of non-woven fabrics are still in short supply, such as spunlace and super Fiber, etc. are still increasing, and it is expected that the heat will continue until the end of this year.

　　 There is still a profit when prices fall

　　 With the stabilization of the domestic epidemic, the melt blown cloth market has gradually become colder.

"Low-end products, the prices of products below grade 95 have fallen drastically, but grades 95 and 99 products are still priced and profitable, and low-quality products (below grade 90) have very little profit and low prices. Yes, high-quality products are not a big problem.” Guoen’s staff said, “The company produces melt blown materials, so the production cost of melt blown cloth is low, and the ability to withstand price drops is strong. This is the production of many other melt blown cloths. Manufacturers can’t compare.”

　　 Guoen shares announced in May this year that it plans to invest in the construction of 20 melt blown cloth production lines. According to the staff of the manufacturer, the first phase has been completed and put into production for mass shipment.

Regarding the investment plan for the remaining production lines, the staff member said, “It depends on the overall market situation of the first phase. It is impossible to say that there is no market. (The company) will do this. The company will announce the specific progress of the project. Next, if the investor is the boss, dare to build the remaining production lines, everyone should take a look, and the company should be responsible to the investors.”

The staff of Meilian New Materials in South China said, “The company’s current orders are still relatively full. Before the epidemic, the price of meltblown cloth was around 20,000 per ton, and they all made money. The current price is 50,000 to 50,000 per ton. The gross profit margin is also very high. The specific price depends on the size of customer orders. In the case of high gross profit, the profit contribution to the company's main business in the first half of the year is still very large." For the company's second half of the year. The above-mentioned staff said that the specifics still depend on the epidemic situation. The price of the (melt blown cloth) market in the later period is really unpredictable in the second half of the year. The situation is changed when it changes. There are risks but there are certain opportunities.

　　The first half of this year's performance may have been lost

　　 The relevant listed companies are very secretive about their own performance, but combing through public information shows that the performance of the relevant companies in the first half of this year may have been lost.

On April 22 this year, Yanjiang shares mentioned in its reply to the Shenzhen Stock Exchange’s letter of concern that in the first quarter of 2020, the company’s meltblown non-woven fabric profit was approximately 17 million yuan, accounting for approximately 45%. Spinning will have a greater impact on the company's performance.

According to the above announcement, Yanjiang Co., Ltd. began selling medical meltblown non-woven fabrics in April. According to its calculations on April 22, taking into account orders and delivery status, production capacity, production scheduling and other factors, the business is expected to affect 2020 The annual performance impact will exceed 32,924,300 yuan, accounting for 40% of the 2019 annual net profit.

Research institutions were also optimistic about the performance of related listed companies. On April 24, Essence Securities issued a research report saying that the price of melt blown polypropylene has risen sharply, which is expected to increase considerable profits for Guoen shares. Guoen shares are expected to be 2020 The annual net profit will reach 570 million yuan.

On June 22 this year, the non-woven fabric enterprise Jinchun Stock’s GEM trial registration system was accepted. The company’s main products are spunlace, hot air and filament microfiber non-woven fabrics, which are used to produce disinfection wipes, masks and other civilian and medical Raw materials for protective products. Although Jinchun has no meltblown non-woven fabrics, the demand for other non-woven fabrics of the company has also risen due to the impact of the epidemic.

　　 According to the prospectus, in the first quarter of this year, the sales revenue of Jinchun shares increased by 13.82% year-on-year, and the net profit attributable to the parent company increased by 206.10% year-on-year. In addition, Jinchun shares expects that in the first half of this year, the company's operating income will increase by 29.30% to 33.47%, and its net profit will increase by 241.80% to 266.21%. It is expected that the company's full-year net profit in 2020 will increase significantly compared with 2019.

　　 Non-woven fabric fever is expected to continue until the end of this year

　　 Meltblown fabric is a kind of non-woven fabric, also known as "non-woven fabric", refers to the fabric formed without spinning weaving. The non-woven fabric industry originated in Europe and the United States in the 1950s, and was introduced to my country for industrial production in the late 1970s. During the development process, non-woven fabrics evolved into spunbond, needle punched, spunlaced, chemical bonding, and thermal bonding. , Air-laid, wet, melt-blown and other processes.

　　 Because it is the core material of medical protective masks, melt blown cloth is well known to the public, and it is even hard to find a cloth when the epidemic is serious. However, before the epidemic, meltblown fabrics were relatively niche in the non-woven fabric industry. The data shows that the output of spunbonded non-woven fabrics in 2019 was 3.0943 million tons, accounting for 49.80% of the total output of non-woven fabrics. During the same period, the output of melt-blown non-woven fabrics accounted for only 1.07% of the total non-woven fabrics. .

The director of the sales department of a non-woven fabric company in Anhui stated that the current non-woven fabric market is not as hot as in the previous few months, but many types are still in short supply, such as spunlace and ultra-fiber non-woven fabrics used in the production of fast-moving consumer goods. The demand for cloth products is still increasing. Affected by the epidemic, foreign demand for non-woven fabrics has soared, and foreign sources are in short supply, so there are many non-woven fabric purchase orders to China.

The whole market fever is expected to continue until the end of this year, but the market in 2021 and beyond cannot be rashly concluded. After all, in the absence of an epidemic, the non-woven fabric industry directly related to the epidemic only meets the normal consumption of the daily medical care industry. After this epidemic, consumers' consumption behaviors, habits and consciousness will change, and the non-woven fabrics of daily fast-moving varieties will have a continuing tendency.

The Everbright Securities Research Report believes that in the short term, the epidemic will catalyze the demand for spunlace and meltblown non-woven fabrics. In the future, governments and hospitals will also increase reserves of protective equipment. Residents’ demand for disinfection wipes and other cleaning products is also expected to increase. Will catalyze the growth in demand for non-woven fabrics. In the future, the growth in demand for downstream medical, personal hygiene and healthcare products will drive the continuous growth of non-woven fabrics.