Plate market this week:
This week, the Shanghai Composite Index rose 0.8%, the gem index rose 2.93%, the CSI 300 rose 1.08%, the CITIC basic chemical index rose 4.17%, and the Shenwan chemical index rose 3.16%.
Rise and fall of various sub sectors of chemical industry: this week, the top five sub sectors of chemical industry were phosphorus fertilizer and phosphorus chemical industry (11.02%), potassium fertilizer (9.62%), rubber additives (6.62%), pesticides (5.13%) and other chemical products III (4.89%); The top two sub industries in the chemical sector were coatings, inks and pigments (- 3.65%) and synthetic resin (- 0.36%).
Main trends of the industry this week:
Energy and chemical industry: on February 18, the national development and Reform Commission and other departments jointly issued the notice on printing and Distributing Several Policies to promote the steady growth of industrial economy, which proposed to adhere to green development, integrate differential electricity price policies such as differential electricity price, step electricity price and punitive electricity price, and establish a unified step electricity price system for high energy consuming industries, There will be no price increase for the power consumption of stock enterprises with energy efficiency reaching the benchmark level and enterprises under construction and planned to be built with energy efficiency reaching the benchmark level. If they fail to reach the benchmark level, step-by-step electricity prices will be implemented according to the energy efficiency level gap, and the price increase electricity fees will be specially used to support the technological transformation of energy conservation, pollution reduction and carbon reduction of enterprises. Organize and implement the special action for innovative development of photovoltaic industry, implement the construction of large-scale wind power photovoltaic bases in desert Gobi desert areas, encourage the development of distributed photovoltaic in the Middle East, promote the development of offshore wind power in Guangdong, Fujian, Zhejiang, Jiangsu and Shandong, and drive the investment in Cecep Solar Energy Co.Ltd(000591) battery and wind power equipment industry chain.
Investment suggestions:
After years of competition and expansion, leading enterprises in the chemical industry have continued to consolidate the cost moat, with significant core competitiveness and relatively low current valuation. It is suggested to focus on: Wanhua Chemical Group Co.Ltd(600309) , Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) , Jiangsu Yangnong Chemical Co.Ltd(600486) , Huafon Chemical Co.Ltd(002064) . Shandong Head Co.Ltd(002810) relying on the technical advantages of mitega, accelerate the application of food grade cellulose ether in the field of plant protein artificial meat; The new production capacity of subsidiary Hershey plant capsule is rapidly released, and the scale advantage is continuously enhanced. It is the first brand in Asia. It is suggested to focus on: Shandong Head Co.Ltd(002810) . The global tire market is a trillion level track. The epidemic has accelerated the reshuffle of the industry, and China’s leading enterprises have accelerated their expansion to seize the global market share, which is expected to maintain rapid development. It is suggested to focus on: Shandong Linglong Tyre Co.Ltd(601966) , Sailun Group Co.Ltd(601058) . Ningxia Baofeng Energy Group Co.Ltd(600989) is a leading enterprise of coal to olefins in China. It has built a high-profit moat with low-cost advantages, and ushered in new development opportunities under the background of carbon neutralization. It is suggested to focus on: Ningxia Baofeng Energy Group Co.Ltd(600989) . Sobute New Materials Co.Ltd(603916) continue to launch new products and continuously enhance market competitiveness by relying on product and technical advantages. Sichuan Daying base has been successfully put into operation. The construction of Guangdong Jiangmen base has been started to continuously expand production capacity, explore markets, improve the layout of national bases and consolidate the leading position in the industry. It is suggested to focus on: Sobute New Materials Co.Ltd(603916) . China’s soda ash market continues to improve, Inner Mongoliayuan Xing Energy Company Limited(000683) as the leader of China’s natural soda process, will benefit from the upward prosperity of the industry, and the newly discovered natural soda ore is expected to reshape China’s soda ash supply pattern, with broad long-term growth space. It is suggested to focus on: Inner Mongoliayuan Xing Energy Company Limited(000683) . The boom of glufosinate industry is rising. The scale and cost advantages of Lier Chemical Co.Ltd(002258) are leading in the world. At the same time, it actively expands new products horizontally, and the performance is expected to continue to grow. It is suggested to focus on: Lier Chemical Co.Ltd(002258) . With the explosion of demand in the downstream new energy vehicle industry, the scarcity attribute of phosphate rock gradually appears. As a Chinese phosphorus chemical giant, Hubei Xingfa Chemicals Group Co.Ltd(600141) has significant advantages in industrial chain integration, and the rapid volume of electronic chemicals in the future will also give the company strong growth attribute. It is suggested to focus on: Hubei Xingfa Chemicals Group Co.Ltd(600141) .
Risk warning: macroeconomic downturn; Large fluctuations in oil prices; Downstream demand was lower than expected.
