Market review:
From January 24 to January 28, the new material sector fell by 2.15%, the Shanghai and Shenzhen 300 index fell by 4.51% in the same period, and the new material sector led the market by 2.36 percentage points. In terms of individual stocks, 18 of the 98 stocks in the sector rose, and 54 stocks outperformed the market. The top five increases were Jiangsu Zhongtian Technology Co.Ltd(600522) (17.54%), Shanghai Pret Composites Co.Ltd(002324) (15.27%), Zhejiang Juhua Co.Ltd(600160) (13.26%), Thinkon Semiconductor Jinzhou Corp(688233) (7.47%) and Chengdu Guibao Science & Technology Co.Ltd(300019) (7.20%); The top five declines were Chengzhi Co.Ltd(000990) (- 14.46%), Phichem Corporation(300398) (- 12.58%), Xi’An Manareco New Materials Co.Ltd(688550) (- 10.45%), Caihong Display Devices Co.Ltd(600707) (- 10.26%) and Lens Technology Co.Ltd(300433) (- 10.15%).
Industry hot spots:
Nylon materials: on January 27, Shenma Industry Co.Ltd(600810) announced that the audit and evaluation of the capital increase and introduction of investors by Henan Shenma nylon Chemical Co., Ltd., a wholly-owned subsidiary of the company, had been completed, and the evaluation results had been confirmed by Henan SASAC. The capital increase amount of Jinshi manufacturing transformation and upgrading new materials Fund (limited partnership) was 1.2 billion yuan, After the capital increase, Jinshi fund holds 20.22% of the equity of Henan Shenma nylon Chemical Co., Ltd. Shenma Industry Co.Ltd(600810) holds 79.78%. The capital increase will mainly be invested in the upstream and downstream industrial chain integration supporting projects and industrial chain competitiveness improvement projects of the nylon industry. After the capital increase is completed, it will speed up the construction of the company’s industrial supporting 400000 T / a hydrogen ammonia project and related industrial chain integration projects, which will help the company expand and strengthen the nylon industry and build a nylon new material base with international competitiveness, Enhance the profitability and comprehensive competitiveness of the company.
New energy materials: on January 27, Shandong Shida Shenghua Chemical Group Company Limite(603026) announced that the 120000 T / a vinyl carbonate unit of the 440000 T / a new energy materials project (phase I) invested and constructed by the company’s holding subsidiary Shandong Shida Shenghua Chemical Group Company Limite(603026) (Quanzhou) Co., Ltd. has been successfully put into operation, and battery grade vinyl carbonate products have been produced, and the 100000 t / a dimethyl carbonate unit is still in trial production. The first phase of the project covers 100000 t / a self use industrial grade vinyl carbonate, 20000 t / a battery grade vinyl carbonate, 80000 T / a industrial grade dimethyl carbonate, 20000 t battery grade dimethyl carbonate, 8000 T / a industrial grade ethylene glycol and 60000 T / a polyester grade ethylene glycol. In recent years, the company has been extending vertically to the industrial chain of dimethyl carbonate series products, and has formed an integrated production system, and the products are in a high position in the industry. As the 440000 T / a new energy materials project of the company is put into operation, the synergy of the company’s multiple production bases will be further enhanced, and the company’s leading position in the field of carbonate solvent will be consolidated.
Risk factors: downstream demand is less than expected; The domestic substitution process of core materials is less than expected; The construction progress of capacity under construction is less than expected; The price of raw materials fluctuated sharply.
