Recently, Shanghai Petrochemical Co., Ltd. announced that its wholly-owned subsidiary, Inner Mongolia New Jinshan Carbon Fiber Co., Ltd., completed a capital increase through public listing, adding 600 million yuan in registered capital. This capital increase introduced strategic investors including China Petrochemical Corporation (Sinopec), Wushen Banner State-owned Investment Group, Dongfang Electric Wind Power, and China Construction Bank Investment, raising the carbon fiber company's registered capital from 6 billion yuan to 12 billion yuan. Shanghai Petrochemical's shareholding ratio was correspondingly adjusted from 100% to 50%.

As a capital-intensive material with high technological barriers, carbon fiber requires ensuring upstream raw material supply, engineering capabilities, and downstream application synergy during the advancement of large-scale projects. In the current stage of industry structural differentiation, integrating multiple strategic resources has become a key strategy for driving project progress. The Inner Mongolia New Jinshan Carbon Fiber project is located in Inner Mongolia, leveraging local energy and supporting advantages to build a large-scale production line. Its products will primarily target markets such as pultruded plates for wind turbine blades, transportation materials, and composite materials for energy storage. Initially focusing on medium-to-high strength products, the project will concentrate on application areas with substantial demand.

In the domestic market, the wind power sector remains one of the core areas for carbon fiber demand. As the power of onshore and offshore wind turbines increases and blade lengths grow, the demand for lightweight materials continues to rise. Pultruded plates, as a key form for blade spars, place high requirements on the stable supply of carbon fiber. In this capital increase, Sinopec's participation provides stronger support for the project in areas such as precursor filament, polymerization, engineering construction, and supporting resources. The upstream carbon fiber industry chain primarily uses acrylonitrile as the main raw material. The petrochemical system holds advantages in stable raw material supply and process integration, which is crucial for cost control in ten-thousand-ton scale projects. Simultaneously, the inclusion of Dongfang Electric Wind Power strengthens the connection between the material end and downstream application end, helping to shorten verification cycles and improve matching efficiency.

From 2023 to 2024, the domestic carbon fiber industry experienced a phase of price declines and reduced capacity utilization, with some companies facing inventory pressure and profit compression. Advancing a 30,000-ton annual carbon fiber project under this context indicates that related enterprises maintain a cautiously optimistic outlook on medium-to-long-term market demand.