This week’s Chemical Market Overview
Shenwan chemical fell 2.96% this week, outperforming the Shanghai and Shenzhen 300 index by 2.29%. In terms of market, the chemical sector is under pressure this week, especially the subject of new energy chemical materials.
Portfolio recommendation
Sichuan Em Technology Co.Ltd(601208) 、 Luoyang Jalon Micro-Nano New Materials Co.Ltd(688357) 、 Jiangsu Flag Chemical Industry Co.Ltd(300575) 、 Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) 、 Wanhua Chemical Group Co.Ltd(600309)
Big events of the week
The Ministry of industry and information technology said in the plan that by 2025, the per capita operating income of small and medium-sized enterprises will increase by more than 18%. The R & D expenditure of small industrial enterprises above designated size has increased by more than 10%, the number of patent applications has increased by more than 10%, and the number of effective invention patents has increased by more than 15%. We will promote the formation of 1 million innovative small and medium-sized enterprises, 100000 “specialized and special new” small and medium-sized enterprises and 10000 “small giant” enterprises.
On the 23rd, Huawei held a new winter product launch conference and launched a new Huawei P50 pocket with folding screen mobile phone, which can realize the seamless folding of the body. The rear lens supports the haunting photography function, and the price starts from 8988 yuan.
On December 16, Rongsheng Petro Chemical Co.Ltd(002493) revealed in the interaction with investors that at present, Zhejiang Petrochemical (phase II) EVA device is undergoing commissioning, and relevant work is carried out in an orderly manner. The EVA device can produce all photovoltaic products. In addition, Zhejiang Petrochemical (phase II) polypropylene device is actively stepping up commissioning and accelerating start-up and production.
Investment advice
In terms of direction, we suggest to focus on the following directions: 1) new material direction ushering in the marginal inflection point: it is suggested to focus on the fields of optical film, polymer materials, aramid, semiconductor materials and so on; 2) Upstream material direction driven by the development of “new” fields: it is suggested to pay attention to the fields such as PVDF and EVA with technical barriers, as well as the fields such as cathode materials and electrolyte industry chain with rapid demand growth; 3) Anti cyclical fluctuation, relatively rigid demand and policy driven market: it is recommended to pay attention to the agrochemical sector, the national six tail gas catalytic sector and the consumption upgrading driving sector; 4) Pay attention to the traditional chemical industry with pattern optimization: it is recommended to pay attention to the typical bulk chemical industry, phosphorus chemical industry, coal chemical industry, biosynthesis field and excellent industry leaders Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) , Wanhua Chemical Group Co.Ltd(600309) ; 5) Focus on the sectors that are damaged this year and have a better margin next year. It is suggested to focus on olefin production, tires and other fields;
Risk statement
The epidemic affects the demand outside China, the crude oil price fluctuates violently, and the change of trade policy affects the industrial layout
