Market review: from December 8 to 10, the central economic work conference was held in Beijing. The general secretary delivered an important speech at the meeting, summarizing the economic work in 2021, analyzing the current economic situation and deploying the economic work in 2022. Premier Li Keqiang made specific arrangements for next year’s economic work and made a concluding speech. Combined with the characteristics of relevant sub industries of the chemical industry, we mainly interpret the relevant contents of the central economic work conference from the perspectives of “energy security”, “new energy”, “carbon neutralization”, “circular economy”, “specialization and innovation”.
(1) China’s energy structure is still dominated by coal. We need to correctly understand and grasp the promotion rhythm of “double carbon”, and the substitution of fossil energy is not done overnight. On the one hand, we still need to pay attention to energy supply guarantee, “accelerate the development and application of advanced mining technologies for oil and gas and other resources”, so as to “enhance China’s resource production guarantee capacity” ； On the other hand, we need to increase new energy consumption capacity, promote the development of more safe and reliable new energy, and gradually replace traditional fossil energy.
(2) The meeting emphasized accelerating the construction of waste recycling system. For the chemical industry, plastics is a “white pollution” The recycling of resources at the source bears the brunt. For the recycling of plastic waste, generally speaking, the recycled waste plastic is treated by physical means and made into other forms of supplies for reuse. For some application fields where it is difficult to recycle waste plastics, the promotion of degradable plastics can greatly reduce the risk of environmental pollution caused by traditional plastics in these application fields.
(3) The meeting stressed the need for scientific assessment. The new renewable energy and raw material energy consumption will not be included in the total energy consumption control, which will be conducive to the normal production of chemical production enterprises using traditional fossil energy as the main raw material. In the follow-up, the formulation of assessment indicators related to China’s energy consumption will be more scientific and effective, and will also help promote the overall transformation and upgrading of the chemical industry Level, help leading enterprises expand their advantages and eliminate real backward, low-end, high energy consumption and heavy pollution enterprises.
(4) The meeting emphasized enhancing the core competitiveness of the manufacturing industry and stimulating the emergence of “specialized, special and new” enterprises. With their business layout in the high-end field, the “specialized, special and new” enterprises have better profitability. At the same time, relevant enterprises attach great importance to the R & D of technical products and make high-intensity investment. The establishment of the Beijing stock exchange also reflects the national promotion of “specialized, special and new” Enterprise development and policy determination to break through the “neck” fields such as core technology, equipment and materials.
Weekly rise and fall of plates: most of the plates in Shanghai and Shenzhen stock markets showed an upward trend this week. The Shanghai index rose by 1.63%, the Shenzhen Component Index rose by 1.47%, the Shanghai and Shenzhen 300 index rose by 3.14%, and the gem index fell by 0.34%. CITIC basic chemical sector rose 0.1%, ranking 21st in all sectors. Investment suggestions: the oil and gas sector pays attention to Petrochina Company Limited(601857) , China Petroleum & Chemical Corporation(600028) , CNOOC and Enn Natural Gas Co.Ltd(600803) , others pay attention to Zhejiang Satellite Petrochemical Co.Ltd(002648) and private refining; Pesticide focus Jiangsu Yangnong Chemical Co.Ltd(600486) , Andorra a, Jiangsu Changqing Agrochemical Co.Ltd(002391) , Lier Chemical Co.Ltd(002258) , Shandong Cynda Chemical Co.Ltd(603086) and Limin Group Co.Ltd(002734) , coal chemical industry and urea focus Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) , Yangmei Chemical Co.Ltd(600691) and Luxi Chemical Group Co.Ltd(000830) , potassium fertilizer focus Xinjiang Guannong Fruit & Antler Co.Ltd(600251) , phosphate fertilizer and phosphorus chemical industry focus Guizhou Chanhen Chemical Corporation(002895) , Yunnan Yuntianhua Co.Ltd(600096) , Xinyangfeng Agricultural Technology Co.Ltd(000902) , Sichuan Development Lomon Co.Ltd(002312) , Hubei Xingfa Chemicals Group Co.Ltd(600141) , Chengdu Wintrue Holding Co.Ltd(002539) , dyes focus Zhejiang Longsheng Group Co.Ltd(600352) , Zhejiang Runtu Co.Ltd(002440) , silicone focus Zhejiang Xinan Chemical Indusyrial Group Co.Ltd(600596) , Hoshine Silicon Industry Co.Ltd(603260) , Chlor alkali concern Xinjiang Zhongtai Chenical Co.Ltd(002092) ; Fluorine chemical industry pays attention to Zhejiang Zhongxin Fluoride Materials Co.Ltd(002915) , China Kings Resources Group Co.Ltd(603505) , Dongyue Group, Zhejiang Juhua Co.Ltd(600160) . Vitamin concerns Zhejiang Medicine Co.Ltd(600216) , Zhejiang Nhu Company Ltd(002001) , Yifan Pharmaceutical Co.Ltd(002019) , Brother Enterprises Holding Co.Ltd(002562) . Semiconductor materials focus on Jingrui shares, Red Avenue New Materials Group Co.Ltd(603650) , Guangdong Huate Gas Co.Ltd(688268) , Jiangsu Yoke Technology Co.Ltd(002409) , Haohua Chemical Science & Technology Corp.Ltd(600378) , Jiangsu Nata Opto-Electronic Material Co.Ltd(300346) , Jiangyin Jianghua Microelectronics Materials Co.Ltd(603078) , Hubei Dinglong Co.Ltd(300054) . OLED industry chain focuses on Valiant Co.Ltd(002643) , Xi’An Manareco New Materials Co.Ltd(688550) , Jilin Oled Material Tech Co.Ltd(688378) , Puyang Huicheng Electronic Material Co.Ltd(300481) . Lithium battery materials focus on Beijing Easpring Material Technology Co.Ltd(300073) , Guangzhou Tinci Materials Technology Co.Ltd(002709) , Shenzhen Capchem Technology.Ltd(300037) , Shenzhen Senior Technology Material Co.Ltd(300568) , Do-Fluoride New Materials Co.Ltd(002407) , Shandong Shida Shenghua Chemical Group Company Limite(603026) .
Risk analysis: the risk of rapid decline and high oil price; Downstream demand is less than expected risk.
