108D/2 Filament Polyester Embroidery Thread

Product Name:

polyester embroidery thread

Characteristics:

Polyester embroidery thread is made of polyester filament. The thread is of good glossy effect, low friction, uniform twist, low breakage and low chromatic aberration.

Product types: 108D/2, 120D/2, 150D/2, 150D/3.

Both originated in Suzhou, Hengli Chemical Fiber and Shenghong's polyester filaments are known as "differentiated". In fact, both in terms of gross profit margin and the number of patents, the "technical content" of the civilian filaments of the two is relatively high: on the one hand, from the perspective of disclosure, the gross profit margin is higher than other Filament companies are about 5%; on the other hand, both of them have a large investment in research and development.

Therefore, it is necessary to compare the filament assets and research and development strength of Hengli Petrochemical with Dongfang Shenghong to compare the specific differences in product structure and future development directions.

The molybdenum moat of Hengli Chemical lies in research and development and self-supply of steam. Regardless of the production capacity structure or gross profit structure, Hengli and Shenghong are very distinctive in differentiated filaments: Hengli's advantage lies in FDY fine denier. The core reasons for the high gross profit of Hengli filament are as follows:

1. In the field of FDY fine denier, the continuous R & D ability of new products has given the company a certain right to speak on FDY products; the company's regular reports continue to disclose new products, and the 2017 annual report disclosed that the company's Yarn) "," triangular profiled viscose-like filament "," melt-spun ultra-fine denier semi-matte flat yarn "products have passed the provincial new product appraisal; Hengke New Materials independently innovated and developed the" soft-textile comfort light Three new products of “fine denier profiled polyester FDY”, “melt straight spinning light and gentle wave flat profiled polyester FDY”, and “five-leaf profiled strong dyed and comfortable polyester FDY” have been recognized as high-tech products in Jiangsu Province. According to the disclosure, Hengke New Materials' FDY new products accounted for 37% of the profit contribution rate, and the proportion of high value-added products such as Deli chemical fiber fine denier yarn, ultra-fine denier yarn, and profiled yarn increased.

2. Hengli Chemical Fiber's subsidiary Su Sheng Thermoelectricity supports filaments on steam——The second increase in processing costs of POY / FDY / DTY products is due to the increase in the amount of energy steam. Therefore, for FDY / DTY products, if the The production of cheaper energy prices is more competitive, and more specific discussions are limited to space and will not be discussed here.

3. Hengli Chemical Fiber has certain scale advantages in the field of FDY: purely from the perspective of FDY production capacity, Hengli Chemical Fiber has the largest FDY production capacity of as much as 1.1 million tons, while the remaining filament production enterprises have only about 400,000 tons of FDY production capacity. Therefore, Hengli Chemical Fiber has a certain scale advantage in FDY products.

Shenghong DTY has the largest production capacity in the country and outstanding scale advantages: In terms of production capacity, Shenghong Group has a clear scale advantage (1.1 million tons), far ahead of other companies (the second in the industry is Hengli, with a production capacity of 580,000 tons). Left and right); Large-scale enterprises in the industry generally have upstream POY facilities and relatively complete specifications. Compared with small and medium-sized texturing enterprises, they have obvious advantages in scale; compared with the investment in equipment required to produce POY, the investment cost of texturing machines required to produce DTY is relatively large. Small, so the market is dominated by pure DTY processing enterprises. The capacity distribution is small and scattered. It mainly seeks living space through regional matching, reducing the procurement cost of auxiliary materials, and relaxing credit terms. These enterprises are also the main POY production enterprises. client.

Relying on the advantages of scale and certain research and development strength, Shenghong has formed a differentiated fiber production capacity of 250,000 tons of large bright fiber, 200,000 tons of direct-spinning full matting fiber, and 80,000 tons of cationic fiber. Each product is used to make clothing Fabrics (such as suits, shirts, sports and leisure clothing, mountaineering clothing), bedding (such as quilts, bedspreads, mosquito nets), and decorative items (such as curtain fabrics, sofas, wall coverings, automotive interior fabrics), etc.

Second, the comparison of traditional filament giants: Tongkun shares VS Xin Fengming

Tongkun and Xinfengming are more comparable: Geographically, Tongkun and Xinfengming are filament companies that started in Tongxiang, Zhejiang. From the perspective of production capacity, Tongkun and Xinfengming were once the first in the country. Two, therefore, are two boss companies with relatively complete product structures as a whole.

From the perspective of development strategies, both of them first increase the production capacity of filaments and then develop upstream along the industrial chain (PTA). The main differences are two points: 1. Xinfengming's product differentiation Better, including the proportion of R & D investment and the proportion of R & D personnel; 2. The strategy of filament development towards PTA is implemented in one step.

The scale advantage of POY is the main force of Tongkun and Xinfengming: The sales scale of Tongkun Co., Ltd. and the company's POY are much larger than other competitors in the industry, and they have obvious scale advantages, ranking first and second in the industry; From the perspective of the gross profit structure, the proportion of gross profit contributed by POY is two-thirds or more for both companies. The expansion of scale advantage driven by the expansion of POY melt capacity direct spinning is Tongkun and Xinfengming's competitive strategy in the long-term industry.

Xin Fengming: The production capacity is relatively new and the competitiveness is still acceptable: According to Xin Fengming's 2018 annual report, the company has 13 sets of melt direct spinning production lines, of which 11 sets of melt direct spinning production lines have been put into operation after 2010. The production used Reliable equipment, advanced technology, high degree of automation, stable process technology and low energy consumption in production.

The company's polyester equipment uses today's internationally advanced DuPont technology-American Kangtaisi technology and equipment, spinning equipment mainly uses German Barmag technology and equipment, silk cake handling and product packaging mainly uses intelligent controlled automatic doffing and automatic packaging The equipment adopts a series of three-pot polymerization process, esterification steam energy utilization, esterification pressure reaction, online cleaning, spinning ring blowing, Wings winding and waste water, waste gas reuse technology, etc. to improve product quality and reduce energy consumption. The technology has further optimized and enhanced the company's production efficiency and product quality.

The road to differentiation is long, but differentiation has attracted attention

1.Insufficient accumulation of filament giants in filament research and development

Insufficient R & D accumulation and lack of talents: The development of differentiated and functional products is a systematic project that requires long-term accumulation of experience. The polyester fiber filament industry in China started late, and scarce managers and engineering technicians with mature experience have become one of the major obstacles restricting the establishment of new domestic differentiated polyester fiber filament enterprises.

The differentiation of Hengli Chemical Fiber is well done. One important reason is that the company attaches importance to the appointment and cultivation of R & D talents. The core technical staff of the R & D center, Jin Guanfan, has a master degree in chemical fiber from Kyung Hee University in Korea.

With nearly 20 years of experience in the chemical fiber industry, he has worked for Korea Gaohe Co., Ltd., Qingdao Gaohe Co., Shandong Province, and has been engaged in production management of polyester (POY, FDY) and development of differentiated products (POY, FDY, DTY); 2008 He joined Jiangsu Hengli Chemical Fiber Co., Ltd. in 2002 and is currently the director of the company's new product research and development department.

The core R & D personnel of other companies are almost all domestically trained business origins, which gradually grow with the company. Limited to the development stage of the industry, the research and development of differentiated fibers is relatively late.

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