Market review this week (December 20 – December 24)
The new materials index fell 2.49%, outperforming the gem index. OLED materials fell 0.72%, semiconductor materials fell 0.91%, membrane materials fell 3.36%, additives rose 0%, carbon fiber fell 6.04% and tail gas treatment fell 0.08%. The top five increases were Konfoong Materials International Co.Ltd(300666) , Ningbo Exciton Technology Co.Ltd(300566) , Jiangsu Pacific Quartz Co.Ltd(603688) , Novoray Corporation(688300) , Shantou Wanshun New Material Group Co.Ltd(300057) ; The top five declines were Zhejiang Yongtai Technology Co .Ltd(002326) , Hangzhou First Applied Material Co.Ltd(603806) , Guangdong Silver Age Sci &Tech Co.Ltd(300221) , Kangda New Materials( Group) Co.Ltd(002669) , Levima Advanced Materials Corporation(003022) .
New materials week observation: hydrogen energy has broad development space and proton exchange membrane is widely used
Application of proton exchange membrane PEM in battery (electrolytic cell) plays the role of providing channels for proton migration and transmission, separating gas reactants and blocking electrolyte. It is widely used in chlor alkali industry, fuel cell, electrolytic water, energy storage cell and other fields. Taking the field of fuel cell as an example, PEM is one of the core basic materials of PEMFC, and its performance determines the performance and service life of PEMFC Life, Perfluorosulfonic acid (PFSA) proton exchange membrane has mature technology and excellent performance. It is the most widely used proton exchange membrane system at present. At present, overseas proton exchange membrane production enterprises mainly include Gore, Kemu, Dow, 3M, Asahi Kasei of Japan, Asahi nitko of Japan, Ballard of Canada and Solvay of Belgium. Dongyue group is the first enterprise to layout proton exchange membrane business in China and the only enterprise in China Enterprises that can realize mass production of proton exchange membrane have formed a whole industry chain from raw materials, intermediates, monomers and polymers to membrane-forming technology and functional technology. In April 2020, Dongyue future hydrogen energy, the proton exchange membrane industrialization company of Dongyue Group, launched the IPO of the science and Innovation Board of Shanghai Stock Exchange, which is currently in the listing guidance stage. In September 2021, Sichuan Em Technology Co.Ltd(601208) announced that it planned to invest in the construction of “proton exchange membrane project with an annual output of 500000 square meters”, and the construction period is expected to be 12 months. We believe that as the leader of domestic proton exchange membrane, Dongyue Group is expected to fully benefit from the broad development space of hydrogen energy industry driven by China’s fuel cell industry development plan and the long-term development demand of electrolytic preparation of “green hydrogen” under the background of global carbon neutralization. Beneficiaries: Dongyue Group, Sichuan Em Technology Co.Ltd(601208) .
Important company announcements and industry information
[ Haohua Chemical Science & Technology Corp.Ltd(600378) ] the lock up period of 540 million shares subscribed by China Haohua, the controlling shareholder, will be automatically extended to June 27, 2022.
[ Zhejiang Jiemei Electronic And Technology Co.Ltd(002859) ] the company was selected as the Sixth Batch of single champion enterprises in manufacturing industry.
[ Jiangsu Boqian New Materials Stock Co.Ltd(605376) ] the company and its subsidiary Guangxin nano signed a strategic cooperation agreement with Dongguan Zhukuang electronics, which agreed that in 2022, Zhukuang electronics would purchase 375 tons of products from the company.
[ Levima Advanced Materials Corporation(003022) ] the company and Changchun Chemical Research Institute signed the technical cooperation agreement on cooperative research and development of Supercritical Polymerization industrialization of carbon dioxide based biodegradable materials (PPC) based on the fourth generation catalyst, and the holding subsidiary Lianhong gerun (Shandong) built a 50000 T / a PPC industrial production line.
Beneficiary 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. Beneficiary objects: Jiangsu Sidike New Materials Science & Technology Co.Ltd(300806) , Haohua Chemical Science & Technology Corp.Ltd(600378) , Red Avenue New Materials Group Co.Ltd(603650) , Wuxi Acryl Technology Co.Ltd(603722) , Sichuan Em Technology Co.Ltd(601208) , Ningbo Solartron Technology Co.Ltd(688299) , Zhejiang Jiemei Electronic And Technology Co.Ltd(002859) , Xi’An Manareco New Materials Co.Ltd(688550) , Puyang Huicheng Electronic Material Co.Ltd(300481) , etc.
Risk tip: technological breakthrough is less than expected, industry competition intensifies, raw material price fluctuation, etc.
