1. New renewable energy and raw material energy consumption are not included in the total energy consumption control, and are optimistic about the high prosperity targets in the upstream of new energy: 1) upstream materials of renewable energy industry chain: key recommendations Jiangsu Eastern Shenghong Co.Ltd(000301) , Levima Advanced Materials Corporation(003022) . Attention: silicon wafer ( Sichuan Hebang Biotechnology Co.Ltd(603077) ); wind power industry chain is optimistic: carbon fiber (carbon fiber targets such as Jilin Carbon Valley, Jilin chemical, Weihai Guangwei Composites Co.Ltd(300699) ), epoxy structural adhesive ( Kangda New Materials( Group) Co.Ltd(002669) ), polyether amine ( Yangzhou Chenhua New Material Co.Ltd(300610) , Wuxi Acryl Technology Co.Ltd(603722) , Zhejiang Huangma Technology Co.Ltd(603181) ); 2) upstream materials of lithium battery material industry chain: lithium battery binder and diaphragm coating material PVDF: attention Dongyue Group, Lecron Industrial Development Group Co.Ltd(300343) , Zhejiang Juhua Co.Ltd(600160) , Guangdonghectechnologyholdingco.Ltd(600673) ； Lithium iron phosphate and iron phosphate: pay attention to Guizhou Chanhen Chemical Corporation(002895) , Yunnan Yuntianhua Co.Ltd(600096) , Hubei Xingfa Chemicals Group Co.Ltd(600141) , Hubei Yihua Chemical Industry Co.Ltd(000422) , Chengdu Wintrue Holding Co.Ltd(002539) , and it is recommended to pay attention to Sichuan Development Lomon Co.Ltd(002312) , Shanghai Zhongyida Co.Ltd(600610) (Wengfu). 3) electrolyte and additives: pay attention to Zhejiang Yongtai Technology Co .Ltd(002326) , Liao Ning Oxiranchem Inc(300082) , Great Chinasoft Technology Co.Ltd(002453) ; and Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) , Zhejiang Satellite Petrochemical Co.Ltd(002648) extending to the field of downstream new materials.
2. The bottleneck of the expansion of leading companies will be greatly alleviated, and the core assets of chemical industry will continue to be optimistic in the medium and long term. At present, the valuation of core assets of chemical industry has returned to a relatively reasonable level. We believe that the state of high premium of leading companies will continue for a long time in the future, and the direction of high premium should be given to the core leaders with the most definite, the strongest barriers and competitiveness in the future. On December 8, the central economic work conference proposed that “raw material energy consumption should not be included in the total energy consumption control”. The recalculation of the project’s carbon emissions will reduce the approval threshold for new production capacity of leading white horse’s high-quality projects in the future, greatly alleviate the bottleneck of long-term suppression of the expansion of leading companies, and reflect the growth again. In the medium and long term, we continue to be optimistic about Wanhua Chemical Group Co.Ltd(600309) , Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) High quality companies such as Ningxia Baofeng Energy Group Co.Ltd(600989) , Rongsheng Petro Chemical Co.Ltd(002493) , Hengli Petrochemical Co.Ltd(600346) , Jiangsu Eastern Shenghong Co.Ltd(000301) , Zhejiang Satellite Petrochemical Co.Ltd(002648) , Jiangsu Yangnong Chemical Co.Ltd(600486) , Zhejiang Nhu Company Ltd(002001) .
2. Focus on the business continuity and profit recovery sub industry. Based on business continuity and profit elasticity, we focus on glyphosate ( Hubei Xingfa Chemicals Group Co.Ltd(600141) , Sichuan Hebang Biotechnology Co.Ltd(603077) , Zhejiang Xinan Chemical Indusyrial Group Co.Ltd(600596) , Nantong Jiangshan Agrochemical & Chemicals Co.Ltd(600389) ); soda ash ( Sichuan Hebang Biotechnology Co.Ltd(603077) , Shandong Haihua Co.Ltd(000822) , Inner Mongoliayuan Xing Energy Company Limited(000683) , Tangshan Sanyou Chemical Industries Co.Ltd(600409) ), pesticides ( Jiangsu Yangnong Chemical Co.Ltd(600486) , Lier Chemical Co.Ltd(002258) , Hailir Pesticides And Chemicals Group Co.Ltd(603639) , Shandong Weifang Rainbow Chemical Co.Ltd(301035) , Limin Group Co.Ltd(002734) ) and vitamins ( Zhejiang Nhu Company Ltd(002001) , Zhejiang Medicine Co.Ltd(600216) , Zhejiang Garden Bio-Chemical High-Tech Co.Ltd(300401) ).
4. Watch the ceiling height, Consumer growth stocks and new materials growth stocks with stable profits: specifically optimistic: Shandong Head Co.Ltd(002810) (cellulose ether + artificial meat), vitamins ( Zhejiang Nhu Company Ltd(002001) , Zhejiang Medicine Co.Ltd(600216) , Zhejiang Garden Bio-Chemical High-Tech Co.Ltd(300401) ); Anhui Jinhe Industrial Co.Ltd(002597) (leading sugar free additives), national sixth industrial chain ( Actblue Co.Ltd(300816) , Luoyang Jalon Micro-Nano New Materials Co.Ltd(688357) , Valiant Co.Ltd(002643) , Xinxiang Richful Lube Additive Co.Ltd(300910) , Jiangsu Lopal Tech.Co.Ltd(603906) ), degradable & renewable plastics ( Shandong Ruifeng Chemical Co.Ltd(300243) , Beijing Sanlian Hope Shin-Gosentechnical Service Co.Ltd(300384) , Kingfa Sci.& Tech.Co.Ltd(600143) , Red Avenue New Materials Group Co.Ltd(603650) ）。 Semiconductor packaging material ( Great Chinasoft Technology Co.Ltd(002453) ), photoresist (Nanjing Everbright, Red Avenue New Materials Group Co.Ltd(603650) , Jingrui Co., Ltd.), semiconductor precursor ( Jiangsu Yoke Technology Co.Ltd(002409) ), military industry: special chemicals ( Haohua Chemical Science & Technology Corp.Ltd(600378) ), aramid ( Yantai Tayho Advanced Materials Co.Ltd(002254) ), carbon fiber ( Weihai Guangwei Composites Co.Ltd(300699) ). New display fields: optical film ( Sichuan Em Technology Co.Ltd(601208) ), organic light-emitting materials ( Valiant Co.Ltd(002643) , Great Chinasoft Technology Co.Ltd(002453) ), PI materials ( Rayitek Hi-Tech Film Company Ltd.Shenzhen(688323) ).
Risk tip: macroeconomic growth is lower than expected; The product price fluctuates greatly; International oil prices fell sharply; The construction progress of new projects is less than expected; The epidemic situation is repeated.
