Market review this week (February 28 - March 4)
The new materials index fell 4.25%, weaker than the gem index. OLED materials fell 2.17%, semiconductor materials fell 2.29%, membrane materials fell 4.67%, additives rose 0.43%, carbon fiber rose 0.58% and tail gas treatment fell 4.91%. The top five increases are Tangshan Sunfar Silicon Industry Co.Ltd(603938) , Tanyuan Technology Co.Ltd(603133) , Hunan Sokan New Materials Co.Ltd(688157) , Shanghai Hiuv New Materials Co.Ltd(688680) , Swancor Advanced Materials Co.Ltd(688585) ; The top five declines were Jiangsu Shuangxing Color Plastic New Materials Co.Ltd(002585) , Aofu Environmental Technology Co.Ltd(688021) , Suzhou Jinhong Gas Co.Ltd(688106) , Zhejiang Yongtai Technology Co .Ltd(002326) , Cathay Biotech Inc(688065) .
Domestic agent: accelerate the replacement of nuclear materials and expand the market
Nucleating agent is a new functional additive that can improve the transparency, surface gloss, tensile strength, rigidity, thermal deformation temperature, impact resistance, creep resistance and other physical and mechanical properties of products by changing the crystallization behavior of resin. It is widely used in the production process of polyethylene, polypropylene and other incomplete crystalline plastics in the fields of automobile, household appliances, food, electronics and medical treatment. With the substantial increase in the output of high-performance polypropylene with nucleating agent in China and the rapid growth in the demand for automobile lightweight and lithium battery diaphragm. According to Gch Technology Co.Ltd(688625) prospectus, the market scale of China's nucleating agent is expected to be 8600 tons in 2021, and it is expected to grow rapidly with an industry growth rate of 13% in the next two years, with broad market development space. Due to the late start of China's related industries, the Chinese market is mainly monopolized by foreign companies such as maliken, with an import rate of more than 70%. In recent years, Chinese manufacturers such as Gch Technology Co.Ltd(688625) , Shanghai qirun and Zhichu chemical have gradually mastered the production process of nucleating agent and realized commercial mass production through continuous research and exploration, breaking the monopoly of imported brands Gch Technology Co.Ltd(688625) has the large-scale production capacity of more than 180 different types of nucleating agents, synthetic hydrotalcite and composite additives. Compared with other manufacturers in China, the company has a more complete product line and the ability to provide one-stop raw material supply for downstream high-quality customers. According to Zhuo Chuang information and Gch Technology Co.Ltd(688625) data, the localization rate of nucleating agent in China increased from 17.65% in 2017 to 27.09% in 2021, and the localization level increased year by year. With the continuous improvement of production technology and process by Chinese manufacturers, the localization substitution of nucleating agent is expected to be further accelerated. Beneficiary object: Gch Technology Co.Ltd(688625) .
Important company announcements and industry information
[ Rianlon Corporation(300596) ] annual report: the company achieved a total operating revenue of 3.445 billion yuan in 2021, with a year-on-year increase of 38.74%; The net profit attributable to the parent company was 418 million yuan, a year-on-year increase of 42.53%; The net profit deducted from non parent company was 397 million yuan, with a year-on-year increase of 37.40%.
[ Puyang Huicheng Electronic Material Co.Ltd(300481) ] performance express: the company achieved an operating revenue of 1.393 billion yuan in 2021, with a year-on-year increase of 52.61%; The net profit attributable to the parent company was 252 million yuan, an increase of 40.45% year-on-year.
[ Zhejiang Nhu Company Ltd(002001) ] performance express: the company achieved an operating revenue of 14.781 billion yuan in 2021, an increase of 43.31% year-on-year; The net profit attributable to the parent company was 4.309 billion yuan, a year-on-year increase of 20.92%.
Beneficial 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. The subject of the beneficiary is the following: Jiangsu Sidike New Materials Science & Technology Co.Ltd(300806) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Puyang Huicheng Electronic Material Co.Ltd(300481) etc.
Risk tip: technological breakthrough is less than expected, industry competition intensifies, raw material price fluctuations, etc.
