Since the beginning of the year, the sector has lagged slightly behind the market: this week, the chemical (Shenwan) industry index fell by - 1.81%, the gem index fell by - 3.75%, the Shanghai and Shenzhen 300 index fell by - 1.68%, the Shanghai Composite Index rose and fell by - 0.11%, and the chemical (Shenwan) sector lagged behind the market by - 1.70 percentage points. Since the beginning of 2022, the chemical (Shenwan) industry index has fallen by - 4.49%, the gem index by - 17.28%, the CSI 300 index by - 8.99%, the Shanghai Composite Index by - 5.28%, and the chemical (Shenwan) sector is 0.79 percentage points ahead of the market.
Event: the website of the Anti Monopoly Bureau of the State Administration of Market Supervision recently announced that Wanhua Chemical Group Co.Ltd(600309) together with Baowu Carbon Industry Technology Co., Ltd. jointly set up a joint venture Zhejiang Baowan Carbon Fiber Co., Ltd. in Zhejiang. Baowu carbon industry holds 51% of the equity of the joint venture and Wanhua Chemical Group Co.Ltd(600309) holds 49% of the equity of the joint venture.
Comments:
The actual controller of Baowu Carbon Technology Co., Ltd. is the state owned assets supervision and Administration Commission of the State Council. It is mainly engaged in the R & D, production and sales of tar refined products, benzene refined products and new carbon based materials, as well as coke oven gas purification services. It is the world's largest tar processing enterprise, with a tar processing capacity of 2.18 million tons / year, a benzene hydrogenation processing capacity of 250000 tons / year, 150000 tons / year needle coke The production capacity of 490000 T / a modified asphalt has the production and processing capacity of the whole process and the whole industrial chain from tar, crude benzene and other raw materials to a variety of carbon based new materials. On November 23, 2021, Baowu carbon industry, a subsidiary of Baoshan Iron & Steel Co.Ltd(600019) holding shares, was spun off and listed on the growth enterprise market of Shenzhen Stock Exchange, making it an independent carbon based new material business listing platform under the company. Wanhua Chemical Group Co.Ltd(600309) cooperated with Baowu carbon industry to enter the new material market of carbon fiber, and Baowu carbon industry also introduced new strategic investors to further expand the field of carbon fiber. Carbon fiber is made of polyacrylonitrile (Pan) and other organic fibers after oxidation and carbonization in an inert gas atmosphere at a high temperature of 1000 ~ 3000 ℃. It is an inorganic polymer fiber with a carbon content of more than 90%. It is one of the lightest inorganic materials available at present. At present, China's carbon fiber industry has gradually entered a period of rapid development, and the competitive advantages of relevant energy industries are obvious. Under the guidance of the "double carbon" policy objectives, wind power, photovoltaic, hydrogen energy and other industries have ushered in an accelerated development cycle, and the carbon fiber market has a broad space.
Product prices are mixed: the products with the highest price increase include: LNG market price (32.83%), naphtha (FOB Singapore) (24.17%), WTI Futures (17.56%), light soda ash (16.18%), hydrogen peroxide (27.5%) (15.00%).
The products with the highest price decline include dimethyl carbonate (- 11.76%), dichloromethane (- 9.86%), anthracite (- 7.78%), glycine (- 7.69%) and aniline (- 7.25%).
Risk warning events: macroeconomic downside risk, crude oil price fluctuation risk and enterprise operation risk.
