Analysis of PI film market environment

In recent years, PI film has been widely used in industries such as flexible circuit boards, consumer electronics, electronic products, high-speed rail transit, wind power generation, electrical insulation, 5C communication, flexible displays, aerospace, etc.

At the policy level, as an advanced structure and composite material, the development of China's PI film industry has received high attention from the country in recent years, especially in the "13th Five Year Plan" for the development of strategic emerging industries and the "13th Five Year Plan" for scientific and technological innovation in the field of materials. Polyimide has been identified as a key development focus for "advanced structures and composite materials", which has also created favorable conditions for the development of China's high-performance PI film industry. In short, China's PI film industry has ushered in good development opportunities.
From the perspective of market segmentation, PI films in the Chinese market can be divided into electric PI filmsElectronic PI filmAnd functional PI film. Among them, electric PI film is mainly used in high-speed rail transit, wind power generation, new energy vehicles and other fields. Especially in recent years, with the rapid development of China's wind power industry, the market demand for electric PI film is gradually increasing; As the core raw material and packaging substrate of FCCL, electronic PI film is mainly used in consumer electronics, 5G communication, automotive, industrial medical, aerospace, military and other fields, and is a relatively large segmented market in China's PI film industry; However, functional PI films are mainly used as thermal conductive materials in consumer electronics and some extreme space environments due to their excellent physical and chemical properties.

In recent years, PI film has been widely used in consumer electronics, high-speed rail transportation, wind power generation, 5G communication, aerospace and other fields due to its excellent physical and chemical properties. But currently, China's PI film industry is still in the development stage, and there is a significant gap in overall development level compared to foreign countries. Most domestic products are concentrated in the low-end field, and the application demand for high-performance PI film products mainly relies on foreign imports. In the future, with the development of the market and optimization of the industry, there is still a huge space for domestic PI films to be replaced.

It is reported that Ruihuatai specializes in the research and development, production, and sales of high-performance PI films. Its main product lines include thermal control PI films, electronic PI films, electrical PI films, etc., which are widely used in national strategic emerging industries such as flexible circuit boards, consumer electronics, high-speed rail transit, wind power generation, 5G communication, flexible displays, and aerospace. The performance of PI film ranks at the top of the polymer material pyramid and is known as the "golden film".

Ruihuatai Company has currently mastered the complete core technology of high-performance PI film preparation, including formula, process, and equipment. It has become one of the suppliers with the richest variety of high-performance PI film products in the world, accounting for about 6% of global product sales. Ruihuatai has achieved leading domestic and internationally advanced levels in various product categories, making it a leading enterprise in the domestic industry and an important competitor in the international market.

During the reporting period, Ruihuatai's operating revenue increased from 121.0665 million yuan in 2017 to 232.342 million yuan in 2019, with an average annual compound growth rate of 38.53%; Profitability is also constantly increasing, with Ruihuatai's net profit attributable to its parent company shareholders showing a growing trend, with a compound annual growth rate of 86.53% during the reporting period.