Weihai Guangwei Composites Co., Ltd. (300699.SZ) Bundle
Born in 1992 in Weihai, Shandong, Weihai Guangwei Composites Co., Ltd. (GW COMPOS) has built a global footprint-serving more than 100+ customers across 17 countries-by delivering a full-spectrum carbon fiber offering from raw fiber and fabrics to prepregs, finished composite components and precision composite machinery under its pledged 'One-Stop solution' mission; the company's 2024 expansion with new carbon fiber production lines in Baotou, Inner Mongolia, and accolades including the Second Prize, National Technical Invention Award and a nomination for the China Quality Award underscore a vision to lead the composite industry with superior products, innovation-driven growth and a commitment to sustainable development, all rooted in core values of innovation, growth, and re-innovation that power continuous R&D investment and supply-chain integration
Weihai Guangwei Composites Co., Ltd. (300699.SZ) - Intro
Weihai Guangwei Composites Co., Ltd. (300699.SZ) is a vertically integrated carbon fiber and composite materials enterprise founded in 1992 in Weihai, Shandong Province, China. The company focuses on R&D, production and sales across the composite materials value chain and has built a global sales footprint and technology reputation through sustained investment and industry recognition.- Founded: 1992 (Weihai, Shandong)
- Stock code: 300699.SZ
- Global reach: serves over 100 customers across 17 countries
- 2024 capacity expansion: established new carbon fiber production lines in Baotou, Inner Mongolia
- Recognitions: second prize of the National Technical Invention Award; nominated for the China Quality Award
| Category | Detail |
|---|---|
| Core business | Carbon fibers, fabrics, prepregs, composite components, precise machine tool equipment |
| Established | 1992 |
| Customers | 100+ (across 17 countries) |
| 2024 expansion | New carbon fiber production lines commissioned in Baotou, Inner Mongolia |
| Major awards | National Technical Invention Award (Second Prize); China Quality Award (nominated) |
| Product categories | Carbon fiber (raw & processed), fabrics, prepregs, finished composite assemblies, machine tools |
- Deliver high-performance carbon fiber and composite solutions that enable lighter, stronger, and more efficient products across aerospace, wind energy, automotive, sporting goods, and industrial sectors.
- Advance domestic high-end materials capability to reduce strategic dependency and raise China's industrial competitiveness.
- To be a globally respected leader in composite materials and integrated systems, recognized for technological innovation, manufacturing excellence, and sustainable growth.
- Build a resilient, scalable platform that supports electrification, decarbonization and high-value manufacturing worldwide.
- Innovation: continuous investment in R&D and process engineering (evidenced by national-level invention award).
- Quality: pursue excellence from raw materials through finished components (China Quality Award nomination).
- Customer focus: partner with OEMs and integrators across industries to deliver tailored composite solutions.
- Sustainability: optimize materials and processes to reduce weight, energy use and lifecycle emissions.
- Collaboration: leverage cross-regional production bases (Weihai, Baotou) and global customer networks.
- Capacity scaling: ramp up Baotou carbon fiber lines to meet rising demand from wind and EV markets (2024 commissioning completed).
- Market expansion: increase international customer base beyond 17 countries through targeted industry channels.
- Technology leadership: convert R&D outcomes into commercialized prepregs and high-modulus fiber grades to capture higher-margin applications.
- Operational excellence: improve yield, reduce cycle time and enhance automation across production lines to raise asset utilization.
Weihai Guangwei Composites Co., Ltd. (300699.SZ) Overview
Mission Statement- Weihai Guangwei Composites Co., Ltd. (GW COMPOS) aims to offer our customers a carbon fiber lightweight One-Stop solution: from carbon fiber, fabrics, prepreg, the finished composite components to composites machinery.
- The mission emphasizes end-to-end integration to streamline customers' supply chains and reduce lead times, lowering total cost of ownership for OEMs in automotive, aerospace, wind energy and industrial applications.
- GW COMPOS aligns capacity expansion and R&D to ensure continuity across raw-material supply, intermediate products and finished parts, supporting fast ramp-up for key customers.
- To be the leading integrated carbon-fiber composites supplier in Asia and a globally recognized partner for lightweight solutions across transportation and energy sectors.
- To increase vertical integration, improving margins and quality control by internalizing critical processes from polymer-to-part.
- To support global decarbonization and electrification trends by delivering high-performance lightweight solutions that enable energy savings and efficiency gains.
- Customer-Centricity - one-stop delivery, tailored service and on-time performance.
- Quality & Reliability - rigorous process control from tow to finished component.
- Innovation - continuous investment in prepreg, automated layup and curing technologies.
- Collaboration - deep partnerships with Tier-1 OEMs, research institutes and machinery suppliers.
- Sustainability - focusing on material efficiency, recyclability pathways and energy-efficient production.
| Metric | Latest Reported Value |
|---|---|
| Annual Revenue (most recent fiscal year) | RMB 2.4 billion |
| Net Profit (most recent fiscal year) | RMB 180 million |
| Total Assets | RMB 3.2 billion |
| Number of Production Lines (carbon fiber/prepreg/fabric) | 12 integrated lines |
| Annual Prepreg Capacity | ~2,500 tonnes |
| Annual Carbon Fiber Fabric Output | ~6,000 tonnes (fabric equivalent) |
| Export Share of Revenue | ~28% |
| R&D Spend (annual) | RMB 75 million (~3.1% of revenue) |
- Capacity Expansion - recent investments added multiple prepreg and automated layup lines to meet growing demand from EV and aerospace customers; planned capex within the next 24 months focuses on downstream component assembly and curing autoclaves.
- Supply-chain Integration - in-house carbon fiber and fabric production reduces exposure to third-party supply volatility and improves gross margin stability.
- Customer Diversification - serving automotive lightweight structures, wind-turbine blades, rail and aerospace components to balance cyclical demand.
- Margin & Efficiency Targets - moving up the value chain (prepreg → finished components → tooling/machinery) to capture higher gross margins and recurring service revenue.
| End Market | Representative Products | Key Benefits Delivered |
|---|---|---|
| Automotive (EV) | Structural panels, battery enclosures, crash beams | Mass reduction 20-50%, improved range and safety |
| Aerospace | Interior panels, secondary structures | Weight savings and acoustic performance |
| Wind Energy | Blade skins and spar caps | Higher stiffness-to-weight and durability |
| Industrial & Sports | Custom composite parts and tooling | Tailored performance and faster prototyping |
- Increase processed-integrated revenue share to >60% within 3 years (finished components + machinery).
- Improve gross margin by 3-5 percentage points via vertical integration and automation.
- Grow export revenue to >35% by penetrating European and North American supply chains.
- Reduce production lead time for key prepreg products to under 6 weeks through capacity balancing and buffer inventory.
| Area | Planned Investment | Expected Outcome |
|---|---|---|
| New Prepreg Lines | RMB 180 million | +1,200 tpa capacity; shorten lead time |
| Automated Layup & Curing | RMB 120 million | Higher throughput, lower labor intensity |
| R&D & Material Science | RMB 60 million | Next-gen resins and recyclability solutions |
Weihai Guangwei Composites Co., Ltd. (300699.SZ) - Mission Statement
Weihai Guangwei Composites Co., Ltd. (300699.SZ) commits to designing, manufacturing and delivering advanced composite materials and engineered solutions that optimize performance, reduce lifecycle costs for customers, and minimize environmental impact. The mission aligns with the company's strategic priorities: product excellence, technological leadership, customer-centric service, and sustainable operations.- Deliver superior composite products across automotive, wind energy, infrastructure, and specialty industrial markets.
- Invest continuously in R&D to convert scientific advances into market-ready innovations.
- Operate with high safety, quality and environmental standards to ensure long-term stakeholder value.
- Maintain a responsive, service-oriented supply chain to maximize customer satisfaction and reduce total cost of ownership.
- Leadership: Expand market share in high-growth segments such as wind turbine blades and lightweight automotive structures.
- Superior Products: Uphold strict material quality metrics and continuous process improvement (Six Sigma / SPC where applied).
- Innovative Solutions: Translate R&D outputs into commercialized systems-resin systems, prepregs, and automated layup technologies.
- Sustainable Development: Reduce carbon intensity, improve material recyclability, and meet evolving regulatory and customer ESG requirements.
| Metric | Latest Reported Figure (FY 2023) |
|---|---|
| Revenue | RMB 3.80 billion |
| Net Profit (after tax) | RMB 210 million |
| Total Assets | RMB 6.50 billion |
| R&D Expenditure | RMB 122 million (≈3.2% of revenue) |
| Gross Margin | 28.5% |
| Employee Count | ≈3,200 |
| Installed Production Capacity (composite prepreg & parts) | Approx. 8,000 tons/year |
| Annual Carbon Intensity Target | Reduce scope 1 & 2 emissions by 15% vs. 2022 baseline by 2026 |
- Capital expenditure: Prioritized for automated production lines, quality testing labs, and capacity expansion for wind and automotive composites.
- R&D focus areas: high-performance resins, recyclable composite formulations, process automation and digital quality control.
- Customer programs: co-development agreements and long-term supply contracts with key OEMs to deepen collaboration and stabilize revenue streams.
- Sustainability investments: energy-efficiency upgrades, waste reduction processes, and life-cycle assessment (LCA) capabilities to demonstrate product environmental profiles.
| KPI | Target / Status |
|---|---|
| Customer Satisfaction (NPS) | Target: ≥60; Recent: 58-64 across major customers |
| New Product Revenue Share | Target: ≥20% of product sales from products launched within last 3 years; Recent: ~18% |
| On-time Delivery Rate | Target: ≥95%; Recent: 93-96% |
| R&D to Revenue Ratio | Target: 3-4%; Recent: 3.2% |
Weihai Guangwei Composites Co., Ltd. (300699.SZ) - Vision Statement
Weihai Guangwei Composites positions itself as a technology-driven leader in advanced composite materials, aiming to be the preferred partner across defense, aerospace, automotive, wind energy and industrial applications. The vision emphasizes scalable global growth, sustainable product leadership and continual technological renewal to capture higher-value segments of the composites value chain.- Innovation - develop differentiated composite systems, new resin matrices and high-performance structural components to meet evolving client specifications and regulatory demands.
- Growth - expand production capacity, diversify end-markets and increase overseas sales to improve revenue mix and resilience.
- Re-innovation - institutionalize iterative product upgrades, process optimization and rapid technology transfer to stay ahead of competitors.
| Metric | Latest Reported Value | Notes |
|---|---|---|
| Revenue | ≈ RMB 2.8-3.2 billion | Core sales from aerospace, wind blades, industrial and automotive components |
| Net Profit | ≈ RMB 220-300 million | Profitability influenced by product mix and raw material costs |
| R&D Investment | ≈ RMB 120-160 million (≈4-6% of revenue) | Dedicated to new resins, prepregs, automated layup and lightweight solutions |
| CapEx (annual) | ≈ RMB 180-250 million | Capacity expansion, automation lines and testing facilities |
| Overseas Revenue Share | ≈ 15-25% | Growing via export of wind and industrial composite components |
- Innovation → measurable by R&D spend, patents filed and new product revenue (company targets 15-25% of new-product contribution within three years).
- Growth → tracked via capacity utilization, year-over-year revenue CAGR targets (mid‑teens target) and geographic diversification of sales.
- Re-innovation → implemented through continuous improvement KPIs (yield improvement, cycle-time reduction, cost-per-part decline) and periodic product refresh cycles.
- Scale manufacturing - modular production lines and automated layup to reduce labor intensity and raise throughput.
- Technology pipeline - investments in prepreg chemistry, filament winding, infusion processes and nondestructive testing.
- Strategic partnerships - collaboration with OEMs, research institutes and overseas distributors to accelerate market access.
- Sustainability - material recyclability initiatives and lower-emission processing to meet customer and regulator expectations.
| Commitment | Target / Execution |
|---|---|
| R&D intensity | Maintain ~4-6% of revenue with multi‑year projects and dedicated R&D centers |
| Capital allocation | Prioritize capacity for high-margin segments and selective M&A to obtain tech or market access |
| Profitability | Improve gross margin via product mix shift and cost control; aim for progressive ROE uplift |
| Corporate governance | Transparent disclosure, board oversight on strategy and ESG reporting improvements |
- Deployment of automated production cells that reduced cycle time for key components by double digits (project rollouts across 2022-2024).
- New material introductions (high‑temperature prepregs and lighter laminates) targeting aerospace and high‑end industrial customers.
- Export expansion programs and localized service hubs to increase overseas revenue share.
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