Market review:
Last week, the new materials sector fell 1.55%, while the Shanghai and Shenzhen 300 index rose 0.82% in the same period. The new materials sector lagged behind the market by 2.37 percentage points. In terms of individual stocks, 54 of the 98 stocks in the sector rose, and 44 outperformed the market. The top five increases were Luxi Chemical Group Co.Ltd(000830) (16.41%), Tangshan Sanyou Chemical Industries Co.Ltd(600409) (15.44%), Guangdong Orient Zirconic Ind Sci And Tech Co.Ltd(002167) (9.64%), Shenma Industry Co.Ltd(600810) (9.48%), Hubei Xingfa Chemicals Group Co.Ltd(600141) (9.35%); The top five declines were Jiangsu Yoke Technology Co.Ltd(002409) (- 17.17%), Novoray Corporation(688300) (- 13.82%), Shanghai Hiuv New Materials Co.Ltd(688680) (- 13.46%), Hangzhou First Applied Material Co.Ltd(603806) (- 12.86%) and Wg Tech (Jiang Xi) Co.Ltd(603773) (- 12.38%).
Industry hot spots:
PVDF: Recently, Lecron Industrial Development Group Co.Ltd(300343) announced that the company has signed the investment framework agreement with Jiangxi Black Cat Carbon Black Inc.Ltd(002068) , southwest electric power, Tianjin electric power and Wuhai Municipal People’s government, and plans to invest in the construction of 50000 T / a PVDF industrial chain and 0.6gw supporting green power projects in the low-carbon industrial park of Wuhai high tech Industrial Development Zone, The main body of the project implementation is “Inner Mongolia Lianhe fluorocarbon New Material Co., Ltd. (tentative name) established by the company and Jiangxi Black Cat Carbon Black Inc.Ltd(002068) . The total investment of the project is 7.2 billion yuan and the construction period is 18 months. At present, the company has put into operation 3000 tons of PVDF production capacity, there is still 5000 tons / year of production capacity under construction, and 6000 tons / year PVDF project is in the process of handling project procedures. The new investment and construction of 50000 tons of production capacity fully shows that the company and other partners are optimistic about the market prospect of PVDF. In fact, since the demand for PVDF broke out in the field of new energy in 2021, many enterprises have announced the expansion or layout of PVDF. Recently, there have been news of PVDF related capacity expansion from Shandong Qiyue, Solvay and other domestic and foreign enterprises. It is expected that the tight supply and demand of PVDF will begin to ease from the end of 2022. Before that, it is suggested to pay attention to enterprises with existing PVDF production capacity and raw material advantages.
Carbon fiber: Recently, China Petroleum & Chemical Corporation(600028) Sinopec Shanghai Petrochemical Company Limited(600688) independently developed and produced carbon fiber has been successfully applied to the “bay area blue” high-speed train of Guangzhou metro line 18. This line is China’s first all underground urban express line with a speed of 160 kilometers per hour and China’s first subway train with carbon fiber composite cover. According to the China Petroleum & Chemical Corporation(600028) data, the performance of the train hood made of carbon fiber composite material fully meets the operating conditions. Compared with the aluminum alloy material of the same module, it can reduce the weight by 35% – 40%, and effectively help the train reduce weight and speed. This successful application indicates another core technological breakthrough in the field of carbon fiber composites in China. In the future, the technology will continue to be applied on the train of Guangzhou metro line 22. At present, the Sinopec Shanghai Petrochemical Company Limited(600688) R & D team is actively carrying out research on carbon fiber composite technology applied to 400 km / h high-speed trains, maglev trains and other models.
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.
