One week (January 24 – January 28) market review
The new materials index fell 3.39%, outperforming the gem index. OLED materials fell 5.88%, semiconductor materials fell 1.86%, membrane materials fell 3%, additives fell 3.19%, carbon fiber rose 0.55% and tail gas treatment fell 2.73%. The top five increases were Shanghai Pret Composites Co.Ltd(002324) , Thinkon Semiconductor Jinzhou Corp(688233) , Hubei Feilihua Quartz Glass Co.Ltd(300395) , Haohua Chemical Science & Technology Corp.Ltd(600378) , Konfoong Materials International Co.Ltd(300666) ; The top five declines were Shenzhen Tongyi Industry Co.Ltd(300538) , Chengzhi Co.Ltd(000990) , Zhejiang Crystal-Optech Co.Ltd(002273) , Phichem Corporation(300398) , Shantou Wanshun New Material Group Co.Ltd(300057) .
Observation of open source chemical new materials week: immersion liquid cooling has developed rapidly, and “giant core coolant” has achieved a domestic breakthrough
Compared with the traditional cooling method, the advantages of submerged liquid cooling are obvious: (1) energy saving and consumption reduction. Compared with the traditional air-cooled data center, the energy consumption is reduced by 90% – 95%. Reducing pue can greatly reduce the operating cost of the computer room; (2) Low noise, no pollution, no need to use fan, which can minimize noise pollution, and there is no need to worry about the interference of dust in the air to devices with high cleanliness requirements; (3) Save space. The space volume occupied by the data center cooling system using submerged liquid cooling can be reduced to 1 / 3 of that of the air cooling system; (4) It has strong heat exchange capacity and can meet the heat dissipation requirements of ultra-high heat flux devices. The working fluids used for single-phase immersion cooling mainly include mineral oil, silicone oil, soybean oil and some fluorides. Electronic grade fluorinated liquid is still one of the most promising liquid coolants for electronic equipment because of its appropriate dielectric constant, specific heat capacity, stability, safety and good cooling effect. According to the research progress on the application of liquid cooling technology in Data Center (2022), experiments show that fluorinated liquid with perfluorocarbon structure is a good single-phase immersion liquid cooling liquid. According to CCID consultant’s prediction, by 2025, the overall scale of China’s liquid cooling data center market is conservatively estimated at 128.32 billion yuan and optimistically estimated at 133.03 billion yuan. Among them, conservatively speaking, the market scale of China’s submerged liquid cooling data center will reach 52.61 billion yuan in 2025; Optimistic, the market scale of China’s submerged liquid cooling data center will reach 54.54 billion yuan in 2025. With its excellent refrigeration effect, the market share and penetration rate of submerged liquid cooling data center are increasing, and it is expected to reach more than 40% by 2025. China fluorochemical leader Zhejiang Juhua Co.Ltd(600160) has successfully developed a giant core coolant dedicated to high-performance big data center equipment, filling the gap of special coolant for high-performance big data center in China. Its main performance indexes are equivalent to those of foreign monopoly products. Zhejiang Chuangfu high tech new materials Co., Ltd., the holding Sun company of Zhejiang Juhua Co.Ltd(600160) , plans to invest 510 million yuan to plan and build a 5000 t / a submerged coolant project, of which the first phase of the 1000 t / a project is in the construction stage and is expected to be completed in 2022. Beneficiary object: Zhejiang Juhua Co.Ltd(600160) .
Important company announcements and industry information
[ Jiangsu Sidike New Materials Science & Technology Co.Ltd(300806) ] the company expects to realize a net profit attributable to the parent company of RMB 210-220 million in 2021, with a year-on-year increase of 18% – 23%; It is estimated that the net profit deducted from non parent company is 180-190 million yuan, with a year-on-year increase of 74% – 84%.
[ Zhejiang Nhu Company Ltd(002001) ] the company expects to realize a net profit attributable to the parent company of 4.10-4.81 billion yuan in 2021, with a year-on-year increase of 15% – 35%; It is estimated that the net profit attributable to the parent company after deducting non-profit is RMB 3.92-4.6 billion, with a year-on-year increase of 15% – 35%.
Beneficial object
We are optimistic about the broad market of functional membrane materials under the background of industrial transfer, the breakthrough of domestic substitution of high-end electronic materials from 0 to 1, and the new opportunities of new materials in the wave of new energy. Beneficiary objects: Jiangsu Sidike New Materials Science & Technology Co.Ltd(300806) , Haohua Chemical Science & Technology Corp.Ltd(600378) , Red Avenue New Materials Group Co.Ltd(603650) , Wuxi Acryl Technology Co.Ltd(603722) , Rianlon Corporation(300596) , Sichuan Em Technology Co.Ltd(601208) , Ningbo Solartron Technology Co.Ltd(688299) , Zhejiang Jiemei Electronic And Technology Co.Ltd(002859) , Xi’An Manareco New Materials Co.Ltd(688550) , Puyang Huicheng Electronic Material Co.Ltd(300481) etc.
Risk tip: technological breakthrough is less than expected, industry competition intensifies, raw material price fluctuations, etc.
