International Composites

English summary

### International Composites Time: 2026-07-30 18:00:19 Content: International Composites is a materials company focused on glass fiber and its products. The traditional glass fiber business provides a scale foundation, while wind-power high-modulus yarn, thermoplastic yarn, and electronic cloth undertake the task of product structure upgrading. In 2025, the company turned from a loss in the previous year to a profit, and profit further recovered rapidly in the first quarter of 2026; however, its stock price rose significantly in the first half of 2026, and the market's trading focus has shifted from "glass fiber cycle recovery" to "AI servers driving demand for high-end electronic cloth." Therefore, the company's fundamentals are in an improvement stage, but valuation and market sentiment are already high; whether the volume, price, and profitability of high-end electronic cloth can be realized later will be the core determinant of whether the valuation can be digested. 1. Main Business and Business Model International Composites is mainly engaged in the R&D, production, and sales of glass fiber and its products, and composite materials. In 2025, revenue from glass fiber and its products was 8.425 billion yuan, accounting for 97.31% of total revenue; other business revenue was 233 million yuan, accounting for 2.69%; …