"We are only able to achieve an annual output value of 100 million yuan even though the plant operates at full capacity, which can’t meet the orders worth 180 million yuan." On August 19, Liu Junfeng, chairman of Hunan Tangu New Materials Co., Ltd., expressed his worries.

The workers are busy all day along in the workshops for orders, the second phase of the project is under construction will be put into trial production in October, and full production at the end of November, so that the received orders can be completed by the end of this year.
The company is mainly engaged in the research and development, production and sales of high-performance, low-cost, short-cycle carbon/carbon composite materials and related products. Carbon/carbon composite materials, as an excellent thermal structure and functional integrated engineering material, have been widely used in the fields of new energy, aerospace, defense technology, powder metallurgy, chemical industry, etc. since its birth.

"Our second phase expansion project has a total investment of 100 million yuan, an annual new carbon/carbon composite material capacity of 360 tons, and an additional annual output value of 400 million yuan." Liu Junfeng said that Tangu New Materials has considered technological innovation as catalyst to high-quality development and new kinetic energy, main driving force for development, and an important step to accelerate the transformation of the development mode, optimize the industrial structure, and transform the growth momentum.

"We invest a lot in product and technology research and development, with annual research and development expenses accounting for more than 6% of sales revenue." At present, the company has applied for 29 patents and has obtained 15 patents.
"Our product has a short production cycle, which is about 40% shorter than the existing production cycle; production costs are reduced by 20%; the service life of civilian products is increased by 30%, making it more suitable for higher-density composite materials; the mechanical properties of the materials are increased by 20% year-on-year," said Liu Junfeng. It is with such advantages that the company has been favored by customers in the fierce market competition.

"According to the current situation, there is no problem at all that in 2022, it will achieve an annual output value of 350 million yuan. It is expected to achieve sales revenue of 500 million yuan in 2023 and a corporate valuation of more than 1 billion yuan. The company aims to list on the ChiNext or the STAR Market by 2024." Liu Junfeng is confident in the company's future development.