In recent days, a number of glass production enterprises have issued annual forecasts, and their performance has increased significantly year-on-year. Meanwhile, since 2022, the main contracts of glass futures have soared again. A number of securities companies are optimistic about the future market of glass and believe that the growth of downstream demand and the contraction of upstream raw materials jointly push up the market prosperity.
the performance of glass manufacturers increased significantly year-on-year
Recently, Zhuzhou Kibing Group Co.Ltd(601636) released the performance forecast for 2021. It is estimated that the net profit after deducting non recurring profits and losses attributable to shareholders of Listed Companies in 2021 will be 3.963 billion yuan to 4.380 billion yuan, an increase of 129.73% to 153.91% compared with the same period of last year.
Zhuzhou Kibing Group Co.Ltd(601636) the staff said that the continuous supply side structural reform has achieved remarkable results. The expansion of glass application fields and the change of demand structure have promoted the improvement of the prosperity of the glass industry. Although the market confidence was insufficient in the fourth quarter of 2021, the demand fell, the product price fell and the price of main raw fuels rose, which compressed the product profit space, the volume and price of the glass industry increased, The overall profitability was significantly improved. "In the future, we will continue to promote the development strategy of 'one body and two wings', adhere to the main line of high-quality development, adhere to lean production and fine management, adhere to the integrated operation of industrial chain and differentiated marketing strategy, promote the construction of marketing ability, promote the upgrading of brand culture, strengthen procurement management, continue to increase revenue and reduce expenditure, and deeply tap the management potential."
The reporter found that in addition to architectural glass and photovoltaic glass, other types of glass products also achieved good results, and relevant listed companies reported good news to investors in the performance forecast. Among them, Csg Holding Co.Ltd(000012) announced that the net profit after deducting non-profit is expected to be 1.2 billion yuan to 1.5 billion yuan in 2021, with a year-on-year increase of 122% to 185%. In addition to the traditional glass business, the overall performance of electronic glass and display device business has increased rapidly year-on-year. China Jushi Co.Ltd(600176) also announced that the net profit deducted in 2021 is expected to increase by 2.912 billion yuan to 3.883 billion yuan compared with the same period of the previous year, with a year-on-year increase of 150% to 200%, mainly due to the strong demand in the downstream application field of glass fiber, the simultaneous rise of the volume and price of the company's roving products, a significant increase in export sales and a significant increase in the sales price of electronic cloth. Shandong Fiberglass Group Co.Ltd(605006) the announcement said that it is expected to realize a net profit of non deduction of 491 million yuan to 576 million yuan in 2021, with a year-on-year increase of 205.73% to 258.90%, mainly due to the strong demand in the downstream application field of glass fiber, a large increase in foreign trade exports, and the rise in the sales and prices of glass fiber yarn.
glass futures market continued to rise
In 2021, glass production enterprises achieved good performance. Can this growth momentum be continued in 2022? China stock market news choice terminal shows that in 2022, the main contracts of glass futures have made rapid progress, rising from 1700 yuan / ton at the beginning of the year to 2324 yuan / ton at the close of February 8, an increase of 36.71%. Affected by the sharp rise of glass futures, Zhuzhou Kibing Group Co.Ltd(601636) rose by 4.15% in 2022 and Fuyao Glass Industry Group Co.Ltd(600660) rose by 0.72%, both outperforming the three major indexes in the same period.
GF futures believes that the price of glass spot has been continuously raised along with the disk, with an increase of 300 yuan / ton. Glass enterprises have successively issued price increase letters on the fourth and fifth days of the first day of the year. Traders and deep-processing enterprises are active in replenishing goods. The overall bullish atmosphere in the market is strong. Traders hold more goods after hoarding, and are reluctant to sell them, because they are expected to continue to rise after the year. Nanhua Futures Co.Ltd(603093) said that the spot market price of float glass in China fluctuated upward. After the festival, the price of individual enterprises in North China increased by 30 yuan / ton, and the downstream deep-processing enterprises resumed work one after another, and the demand improved.
In recent days, Zhongtai Securities Co.Ltd(600918) , Minsheng securities, Everbright Securities Company Limited(601788) , Huaxi Securities Co.Ltd(002926) and other securities companies have issued research reports and positively evaluated the annual performance forecast of Zhuzhou Kibing Group Co.Ltd(601636) 2021. Zhongtai Securities Co.Ltd(600918) analyst Sun Ying said, "the pressure period of glass production has passed. According to the prediction of Zhongtai real estate group, the growth rate of real estate completion in 2022 is expected to reach 3.8%. At present, the production capacity of glass production lines with kiln age of 8 to 10 years and more than 10 years accounts for 13.7% and 14.1% respectively. The cold repair of old production lines in 2022 will lead to the contraction of glass production capacity supply, and the price is expected to remain at a good level." He also said, "the production expansion of photovoltaic glass has made steady progress and is expected to create a second growth curve. The company actively arranges emerging fields such as energy-saving glass, electronic glass and medicinal glass. Considering the long-term growth of the company, it maintains the rating of 'overweight'."
At present, the main raw material of soda ash futures is close to 601066} tons, and the main analyst of soda ash futures said that at present, the main raw material of soda ash futures is close to 601066}. The inventory of the industry has been accelerated and the national inventory decreased by 140000 tons month on month in the week before the Spring Festival. Therefore, it is judged that the overall trend of soda ash industry in 2022 is still good. "On the supply side, Jiangsu Lianyungang Port Co.Ltd(601008) 1.3 million tons of soda ash industry has withdrawn, and it is a deterministic event that the soda ash industry will continue to shrink year-on-year in 2022. On the demand side, the completion of real estate in 2022 is expected to increase by 5% to 10%, and the period from 2022 to 2024 is still the intensive production period of photovoltaic glass. The supply contraction and bullish demand jointly promote the prosperity of relevant varieties."
