Since the beginning of the year, the sector has slightly lagged behind the market: this week, the chemical (Shenwan) industry index rose by 3.16%, the gem index rose by 2.93%, the Shanghai and Shenzhen 300 index rose by 1.08%, the Shanghai Composite Index rose by 0.80%, and the chemical (Shenwan) sector led the market by 2.36 percentage points. Since the beginning of 2022, the chemical (Shenwan) industry index has fallen by – 4.13%, the gem index by – 14.92%, the CSI 300 index by – 5.85%, the Shanghai Composite Index by – 4.09%, and the chemical (Shenwan) sector lags behind the market by – 0.037 percentage points.
Event: 1) from February 11 to 15, Wang Ling, Secretary of the Party group and executive deputy director of the Standing Committee of Hubei Provincial People’s Congress, led a team to four places to conduct special research on phosphogypsum pollution prevention and control, And carry out legislative research on the formulation of the regulations of Hubei Province on the prevention and control of phosphogypsum pollution and the decision of the Standing Committee of Hubei Provincial People’s Congress on bringing phosphogypsum into the scope of “other solid wastes” under the tax item of environmental protection tax; 2) Yunnan Yuntianhua Co.Ltd(600096) announced that Yunnan Yuntianhua Co.Ltd(600096) signed the new energy battery whole industry chain project cooperation agreement with Yuxi Municipal People’s government, Yunnan Energy New Material Co.Ltd(002812) , Eve Energy Co.Ltd(300014) and Zhejiang Huayou Holding Group Co., Ltd. in Kunming, Yunnan Province on February 16.
Comments:
1) legislate to promote the prevention and control of phosphogypsum pollution and promote the high-quality development of phosphorus chemical industry in Hubei. 2) Give full play to the advantages of phosphorus chemical industry chain and accelerate transformation and upgrading. In terms of cooperative development of mineral resources, Yuxi Municipal government will jointly establish two companies with all participants, which are mainly engaged in mineral development and mineral deep processing. In terms of equity structure, Yuxi Municipal government or its designated subject holds 23% of the shares and is the largest shareholder; In terms of the construction of batteries and upstream and downstream materials, the supporting battery, diaphragm, iron phosphate, lithium iron phosphate, copper foil and other projects are planned to be invested in three phases. The first phase will be completed before December 31, 2023, with a committed investment of about 18.05 billion yuan; Phase II will be completed before December 31, 2025, with a committed investment of about 33.65 billion yuan; Phase III is the long-term investment target and is planned to be completed by 2030. The above-mentioned three-phase investment will be implemented in the form of project companies directly established by four enterprises, including Yunnan Energy New Material Co.Ltd(002812) , Eve Energy Co.Ltd(300014) , Huayou holdings and Yunnan Yuntianhua Co.Ltd(600096) .
Product prices rose and fell with each other: the products with the highest price increase include: solid caustic soda (99% flake soda, East China) (14.63%), ethylene oxide (13.89%), Henry hub Futures (12.08%), ammonium chloride (wet ammonium) (10.53%), vitamin K3 (msb96%) (10.29%).
The products with the highest price decline include: glufosinate (- 20.00%), dimethyl carbonate (- 16.67%), raw salt (- 15.31%), melamine (- 11.29%), acetic anhydride (- 9.30%).
Risk warning events: macroeconomic downside risk, crude oil price fluctuation risk and enterprise operation risk.
