One week (February 21 – February 25) market review
The new materials index rose 3.01%, outperforming the gem index. OLED materials rose 1.89%, semiconductor materials rose 5.34%, membrane materials rose 1.8%, additives rose 2.39%, carbon fiber rose 4.26%, and tail gas treatment rose 0.99%. The top five gainers are Baoding Lucky Innovative Materials Co.Ltd(300446) , Guofeng new material, Konfoong Materials International Co.Ltd(300666) , Guangdong Huate Gas Co.Ltd(688268) , Jiangsu Pacific Quartz Co.Ltd(603688) ; The top five declines were Shandong Sinocera Functional Material Co.Ltd(300285) , Nanjing Cosmos Chemical Co.Ltd(300856) , Sobute New Materials Co.Ltd(603916) , Zhuzhou Times New Material Technology Co.Ltd(600458) , Shenzhen Sunnypol Optoelectronics Co.Ltd(002876) .
Observation of open source chemical new materials week: there is wide demand and substitution space, and the prospect of super capacitor carbon is promising
Super capacitor is widely used in military industry, manufacturing and other fields. In addition, it also has the energy storage characteristics of battery and can be reused. It has an ultra long cycle life, which can be recycled for about 200000 to 1 million times. The power stored and released in the life cycle is about 6-10 times that of lithium ion battery. As the core material of super capacitor electrode, super capacitor carbon is the most important electrode material for commercial application in the field of super capacitor. Its usage in capacitor electrode raw materials accounts for about 90% and the production cost accounts for about 30% – 50%. According to the data of Huajing Industry Research Institute, the market scale of China’s super capacitor industry is growing, and has increased to 15.5 billion yuan by 2020, with a compound growth rate of 33% since 2012. According to the prediction of China Commercial Industry Research Institute, the scale of China’s super capacitor market is expected to reach 20 billion yuan by 2022. As the core material of supercapacitors, the demand for supercapacitor carbon has also increased rapidly. By 2020, the demand for supercapacitor carbon in the global market is about 10000 tons, of which China’s demand is about 5000 tons. Although China’s super capacitor carbon has a good demand prospect, it has not realized localization at present, and more than 90% of it depends on imports. Japan kelaoli company is a global leading enterprise, so the technical threshold of super capacitor carbon is high and difficult. At present, Chinese enterprises have made some breakthroughs, and the industrialization of super capacitor carbon is imminent Fujian Yuanli Active Carbon Co.Ltd(300174) developed super capacitor carbon production lines use self-developed technology and equipment, and the product quality has reached the international standard. The company plans to build a production line with an annual output of 600 tons of super capacitor carbon in Nanping Industrial Park, and the first phase of the production line with an annual output of 150 tons will be put into operation in August 2020; The second 150 ton production line will be completed and put into operation in 2021, and the remaining 300 ton production capacity is expected to be completed and put into operation in 2022. The products have passed the certification of some important downstream customers in China and have been supplied Shanxi Meijin Energy Co.Ltd(000723) reached cooperation with Shanxi Institute of coal chemistry, Chinese Academy of Sciences at the end of 2016 to start the localization technology research of super capacitor carbon. By the end of 2019, a 10 ton pilot demonstration line of super capacitor carbon was built, and the project with an annual output of 1000 tons is under construction. Beneficiary objects: Fujian Yuanli Active Carbon Co.Ltd(300174) , Shanxi Meijin Energy Co.Ltd(000723) .
Important company announcements and industry information
[ Xi’An Manareco New Materials Co.Ltd(688550) ] the company expects to realize a net profit attributable to the parent company of 238 million yuan in 2021, with a year-on-year increase of 35.91%.
[ Ningbo Solartron Technology Co.Ltd(688299) ] the company expects to realize a net profit attributable to the parent company of 190 million yuan in 2021, with a year-on-year increase of 7.18%.
[ Luoyang Jalon Micro-Nano New Materials Co.Ltd(688357) ] the company expects to realize a net profit attributable to the parent company of 275 million yuan in 2021, with a year-on-year increase of 116.15%.
Beneficial object
We are optimistic about the broad market of functional membrane materials under the background of industrial transfer, the breakthrough of domestic substitution of high-end electronic materials from 0 to 1, and the new opportunities of new materials in the wave of new energy. The subject of the beneficiary is the following: Jiangsu Sidike New Materials Science & Technology Co.Ltd(300806) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Puyang Huicheng Electronic Material Co.Ltd(300481) etc.
Risk tip: technological breakthrough is less than expected, industry competition intensifies, raw material price fluctuations, etc.
