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Investment theme of chemical industry in the fourth quarter

wallpapers News 2020-08-08

lithium hexafluorophosphate products require low free acid content, low acid insoluble content low moisture content. In order to be superior to the national stard, duofluoro Chemical Co., Ltd. has increased its technological research development, established an independent lithium battery research center, equipped with the world's advanced SEM, XRD, ICP-MS, specific surface area analyzer other analysis detection equipment for product monitoring. The


"golden nine silver ten" are coming to an end, but the chemical market in the near future is still calm. Affected by the shutdown of Ningxia Mingsheng, Ningxia zhongweixin Sanyuan Inner Mongolia totem chemical, the supply of disperse dye industry will face the biggest impact in history. In September, the production sales of domestic new energy vehicles increased significantly, leading to the shortage of upstream parts supply, especially lithium battery materials. In addition, due to the weak rebound of natural rubber market, the profitability of domestic tire industry is expected to continue to improve. Industry insiders believe that the investment strategy of chemical industry in the next stage should focus on the sectors with dem expansion power, industry concentration expected to increase cost advantage, it is suggested to pay attention to the growth of lithium battery materials, dyes tire related sub industries.

dyestuffs: the price rise of raw materials helps to integrate

. Recently, China's disperse dyestuff industry has made an eye-catching performance, the reduction of the production capacity of intermediate reducers is becoming the focus of the industry, which is expected to further push up product prices promote industry integration. After the

desert pollution events, Ningxia Mingsheng other production enterprises were shut down. At present, more than 60% of the raw material reduction capacity of disperse dyes is shut down. Due to the serious shortage of production capacity, the price of 2-amino-4-acetaminoanisole, a reducing agent of dye intermediate, soared from 38000 yuan / ton in early September to 100000 yuan / ton today. Industry insiders believe that under the joint action of environmental protection high raw material prices in the upstream, the industry will usher in a new round of reshuffle, leading enterprises represented by Zhejiang Longsheng will further exp their competitive advantages have a good investment prospect. Due to the shutdown of upstream enterprises,

will affect the supply of reducing substances, then spread to the downstream. All of the three reductive production enterprises are in the state of production suspension, the largest supplier, Ningxia Mingsheng new plant, has no prospect of putting into operation in the near future. In the first half of next year, there will be a gap in the supply of disperse dyes. Industry analysis institutions said that under the background of sharp rise in reducing material prices production capacity contraction, the vast majority of dye production enterprises will fall into the raw material crisis. Small disperse dye enterprises will be forced to stop production limit production, the price of disperse dyes may continue to rise. Industry insiders of

believe that under the influence of factors such as low cost, matching of raw materials intermediates, patent monopoly other factors, the advantages of leading dye enterprises are still significant, their profitability will tend to be stable. In the production suspension of intermediate reducers, large enterprises have certain reserves of raw materials good anti risk ability, it is easier to transfer the cost to the downstream, so they are in a more favorable position in the competition.

at present, there are two kinds of reduction technology in China, namely iron powder reduction method hydroxidation method. The three enterprises that have stopped production adopt iron powder reduction method. The iron mud solid waste pollution waste acid are difficult to deal with, so the process method is relatively backward faces great environmental protection pressure. In Zhejiang Longsheng, the hydrogenation reduction method is adopted, the waste acid is mainly neutralized by ammonia to prepare ammonium sulfate. At present, Zhejiang Hongsheng Chemical Co., Ltd., a subsidiary of Zhejiang Longsheng, has a stable production capacity of 10000 tons / year, which can meet the dem of Zhejiang Longsheng for reducing substances. After the three companies stop production, Longsheng starts operation stably is currently the only supplier in China. At present,

currently, the annual dem for reducing substances in China is about 25000 tons. Even if the production unit of Zhejiang Hongsheng Chemical Co., Ltd. is operating at full capacity, it can only meet 40% of the market supply. However, Zhejiang Longsheng has a capacity of 120000 tons of disperse dyes, accounting for 35% - 37% of the market. Therefore, the export capacity of Zhejiang Longsheng's reductant products is very small. Wang Xixin, an analyst with

, believes that the supply dem pattern of the industry will be relatively stable in the future, the profits of leading enterprises will be maintained at a high level. Driven by the endogenous growth of dyes intermediates, Zhejiang Longsheng has abundant cash flow. At present, the debt ratio is at a historical low level, the future extension is expected to be strong. It is estimated that the company's EPS elasticity from 2014 to 2016 will be 1.79 yuan, 2.15 yuan 2.57 yuan respectively.

lithium battery materials: the downstream market is growing rapidly.

since October, northern China has entered a period of high incidence of haze. With the support of policies, the new energy vehicle sector related to environmental protection has a bright future, will drive the lithium battery industry. Affected by the exemption of purchase tax in September, the output of new energy vehicles in China reached 22000, a year-on-year increase of more than 20 times a month on month increase of 284.47%. According to Great Wall Securities Research Report, the output of new energy vehicles reached a record in September, the monthly output of new energy vehicles in China exceeded 10000 for the first time. After the output of new energy vehicles has reached a new high, the sales volume of domestic electric vehicles is expected to continue to rise with the support of a series of policies. Benefiting from the explosive growth of dem for new energy vehicles, there will be investment opportunities for lithium battery materials. It is suggested to focus on relevant stocks such as xinzhoubang Cangzhou pearl.

Southwest Securities said that since this year, China's new energy vehicles have been issued with favorable policies, the dem for lithium batteries is expected to grow explosively in the future. Wanli shares, which are optimistic about entering the field of lithium batteries, are optimistic about Yanhua group, which accelerates the layout of lithium industry builds a diversified development pattern by extension, Shenzhen Huicheng, which has polyimide nanofiber battery diaphragm production technology. Among them, polyimide is expected to ignite the dem of high performance battery in the market. New material company Shenzhen Huicheng is expected to usher in a phased rise in the later period. At present, the company continues to promote the market development of polyimide new materials business, has made improvements in marketing strategy product strategy, the proportion of new material sales revenue has increased significantly.

another listed company worthy of attention is Tianci materials. Recently, the company announced that it plans to issue no more than 8.18 million shares, plans to raise no more than 265 million yuan. It will purchase 100% equity of Dongguan Kaixin battery materials Co., Ltd. with no more than 200 million yuan, invest 49 million yuan to build a liquid lithium hexafluorophosphate project with an annual output of 6000 tons. The company said that after the completion of the project, it will greatly enhance the company's lithium batteryElectrolyte its core raw material lithium hexafluorophosphate competitiveness in the field.

industry insiders believe that lithium hexafluorophosphate, the main raw material of lithium batteries, will have a significant gap in the next two to three years. As an electrolyte supplier with large-scale production capacity of crystalline lithium hexafluorophosphate, Tianci material will advance the long-term development of lithium battery power automobile industry by arranging the production capacity of raw materials upstream of lithium battery in advance. Although there is a trend of surplus in the lithium hexafluorophosphate market, as the new energy vehicle market has begun to start, the speed of capacity digestion will be very fast. The early layout will help the company to occupy the first mover advantage in the future lithium salt electrolyte market.

tires: the cost advantage shows. Recently, natural rubber other raw materials have increased slightly. Analysts believe that at present, natural rubber rebound is weak, still in the low price period, downstream tires rubber products other related enterprises are expected to see a certain increase in profits. Su Wenjie, an analyst with

, believes that the price of natural rubber has continued to fall since this year. Despite the recent rebound, it is expected that supply will still exceed dem in the next two years, the price is expected to remain low. The main reason for the recent rise in the spot price of natural rubber in China is that the main rubber producing countries have strengthened the protection of rubber industry, Thail has postponed the storage of natural rubber. It is reported that the Thai government plans to postpone the sale of the remaining 100000 tons of rubber inventory to the end of September. Although the natural rubber market rose slightly last week, considering that it is the peak season of rubber supply, Thail has postponed the release of storage, but the problem of global rubber supply surplus is difficult to solve in the short term. In addition, China's economic growth is slowing down, the dem of major domestic rubber consumer industries is not strong, so it is expected that the overall weakness of rubber will be difficult to change. Yang Wei, an analyst with Dongxing securities of

, also said that the price of natural rubber has dropped sharply since last year, the main rubber producing countries in Asia are discussing measures to support the price. Despite Thail's request to raise the price to more than 80 baht per kilogram, there is pessimism in the downstream market at present, the price is difficult to improve.

a few days ago, China Rubber Industry Association issued "Research on the development strategy of China's rubber industry power", proposing that product sales should strive to achieve an annual growth of 7% from 2013 to 2020 to reach 1.49 trillion yuan, 6% from 2020 to 2025 1.99 trillion yuan by 2025. By 2025, the per capita sales of tire rubber additives will be increased from the current 1.2 million yuan to 1.721 million yuan, 800 thous yuan to 1.5 million yuan; the profit margin of sales will be increased from 4.7% to 8% from 7% to 15%. Zhuang Zhiwei, an investment analyst with

, believes that the rubber stocks in the A-share market have been immersed for a relatively long time, while the valuation promotion driven by the favorable industrial policies may perform in the short term. In the medium long term, the whole industrial chain of rubber industry is concerned.

business agency on October 22,

Southwest Securities analyst Aihua suggested investors pay attention to Qingdao double star. Shang Aihua believes that after the management change of Qingdao Shuangxing in 2013, the company's governance has been greatly improved, the business performance has reached an inflection point. The company plans to invest 3.5 billion yuan in the new plant area to build an intelligent green tire production base. The company's production capacity is exped, the scale effect is improved, the product structure is facing upgrading. In addition, the company is expected to benefit from the reform of state-owned enterprises.

however, some analysts said that as the market dem for tires rubber products is difficult to improve in the near future, it is recommended to treat it with caution, especially in the short term. "

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