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Keschuang Lu Chengfei: optimistic about the growth of China's high-tech material market

"although China's supply and demand balance pattern is more severe than the global supply and demand pattern, in the foreseeable future, demand will continue to be strong, which is conducive to achieving a better balance between supply and demand, which is a relatively positive signal for enterprise development."

since its independence from Bayer Group and listing last year, covestro, a global leading polymer enterprise, has quickly established its brand in the industry

as the CFO of covestro (formerly Bayer Materials Technology Co., Ltd.), Frank TZ once worked as the vice president of Finance in the German mechanical engineering company man, and also served as the CFO of Aldi s? D group company. He has unique views on the development trend of the company and the whole industry

in an exclusive interview, he pointed out that from the perspective of industry development, innovation and innovation programs can stimulate growth potential

at the same time, Lu Chengfei said that the Asia Pacific region is currently the fastest growing region in the industry. "Although from the perspective of growth, China's GDP growth rate is not as fast as before, it is still much higher than that of other countries. At the same time, after the integration of the new material market, some enterprises in the industry, especially small-scale enterprises, withdraw from the market, so that the whole experimental process can reach constant force control, creating a favorable pattern for the development of the new material industry"

at the same time, from the general background of the current industry market and the trend of big 1.1 under the condition of abiding by the transportation, storage, device and application rules of the experimental machine, Lu Chengfei believes that the whole new material market is moving towards lightweight and high energy efficiency. "Especially after the company entered the Chinese market, the growth and growth rate of China's core products are much faster than that in other parts of the world, which makes us have great confidence in the growth of the Chinese market."

innovation drives growth potential

for the rapid development of the company in the industry, Lu Chengfei believes that "it is because innovation and innovation programs drive growth potential"

he told that the so-called innovation concept, from the perspective of basic innovation, generally focuses on the world to achieve innovation. Especially on the market side, we need to pay attention to being close to customers to achieve functional improvement and innovation. This is particularly important for the development of new material industry

Lu Chengfei said, "take kostron as an example, we have established cooperative relations with major downstream customers in polycarbonate and carried out research in the new generation of polycarbonate. For example, through the reinforcement of glass fiber materials, polycarbonate can replace metal materials. Its first major application will be in electronic materials, such as computer shells. In the future, there will be new applications in the automotive industry."

Lu Chengfei told that the industrial distribution of the development of the new material industry should be diversified, which makes the company or enterprise not too dependent on a certain industry in the development process, and brings flexibility to the company's operation

"in addition, more diversified industries and industries will make companies in the industry sensitive in technology research and development. For example, apply the technology of one industry to other industries to realize application innovation." Lu Chengfei said

at the same time, Lu Chengfei also said, "I believe that sustainable development is the foundation of industry development, and it is also a major prerequisite for related companies to carry out business". This is also an industry innovation concept. "Two years ago, in Germany, we launched the new first generation TDI (toluene diisocyanate) process. This new TDI process achieves 60% energy saving, which means not only making contributions to emission reduction, but also improving profits in business."

for the future development of the high-tech materials industry, Lu Chengfei said that at present, the relevant main industries are concentrated in the automotive industry, construction industry, electronic and electrical industry, as well as the footwear and clothing industry. "However, we are optimistic about the medical industry and believe that there is a huge space for the application of new materials in the medical industry"

optimistic about the Chinese market

there was a period of development in the Chinese market. Lu Chengfei told that compared with other markets, the accuracy of static indication in the Chinese market: 1% in the whole process without grading; Covestro and even the whole industry are of great significance

"there is no doubt that in terms of business, the growth and growth rate of China's core products are much faster than that of other parts of the world." However, Lu Chengfei believes that to develop the new material industry in China, we need to improve capacity utilization, which is also the development goal of covestro in the Chinese market

for the future development strategic layout of the new material industry in the Chinese market, Lu Chengfei said that there are three strategic directions in the medium and short term. "The first is in terms of production capacity, we should know how to further give play to the advantages of the industry's production capacity, such as improving the utilization rate of production capacity; the second is to further improve the utilization rate and realize the expansion of market scale; the third is sustainable development, because sustainability is also an industry requirement, which plays a great role in reducing costs and improving the utilization rate. In the long run, we need to use organic growth and mergers to achieve long-term growth.

Lu Chengfei is also outspoken about the challenges that the industry will face in the future

he told that the financial pattern and some major economic events may cause a major blow to the development of the new material industry, which the company and the entire industry have been vigilant

"after the outbreak of the global financial crisis, that is, from 2008 to 2010, the impact of the crisis on the industry is very profound. With the outbreak of the financial crisis, the global demand for high-tech industries has plummeted. Due to the rapid expansion of investment in new capacity from 2005 to 2006, the overcapacity of subsequent industries is very serious." Lu Chengfei revealed to that until this year, the supply and demand balance in the industry has been achieved in a certain sense

"it can be said that the profit margin of the whole industry is very poor. Higher profits were achieved only in 2016, so the financial crisis has always been a major event for us to learn a lesson." Lu Chengfei said

nowadays, with the deep cultivation of enterprises in the Chinese market, they are also facing the challenge of Chinese localization

Lu Chengfei said that from a global perspective, enterprises such as covestro are still leaders. However, China has special national conditions, and covestro and related enterprises in the industry are facing similar problems

"there are many small-scale TDI manufacturers in China, and they also have a great impact on the industry. In fact, from the current situation, he said, in China, companies mostly adopt follow-up strategies. The development of high-tech materials industry in China needs to have rapid response ability, improve decision-making ability, and strive to take countermeasures according to the changes in the Chinese market."

"at the same time, the pattern of supply and demand balance in China is more severe than that in the world. This is because in the past few years, several high-tech material giants have achieved large capacity expansion in China, which may make the balance of supply and demand has not been well balanced." Lu Chengfei said that fortunately, China's demand will continue to be strong in the next few years and in the foreseeable future, which is conducive to a better balance between supply and demand, which is a relatively positive signal for the development of enterprises

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