According to the investor relations activity record table of Yongjin shares, in recent years, thanks to the continuous development of downstream industries such as electronic information, environmental protection energy, auto parts and so on, the domestic demand for precision cold-rolled stainless steel plate and strip has been increasing. The apparent consumption of precision cold-rolled stainless steel strip in China has reached 672700 tons in 2020. Calculated with an average annual compound growth rate of 7.89 percent from 2018 to 2020, it is estimated that in 2023, when the convertible bond investment project is fully produced, the market demand for precision cold-rolled stainless steel strip in China will reach 844800 tons. At the same time, considering the explosive growth of downstream industries in recent years, the demand for precision cold-rolled stainless steel plates and strips is growing rapidly, and the actual market demand for products in 2023 is expected to be no less than 900000 tons.
With the continuous promotion of the process of industrialization in China, the advanced manufacturing industry represented by high-end equipment manufacturing and new materials continues to upgrade, the industrial structure is constantly optimized, and the products are gradually developing to the middle-to-high-end direction. In addition, large-scale construction projects driven by the "Belt and Road Initiative" strategy have a continuous demand for high-quality stainless steel. Yongjin is actively engaged in the research and development of high-end precision stainless steel strip, which is expected to further consolidate and expand market share.
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