Core logic
The field of new chemical materials is an important direction for the future development of the chemical industry. With the slowdown of downstream demand growth in the traditional chemical industry, it is a general trend that the market share is concentrated to the leader, and the core competition threshold is cost and efficiency; The downstream is still in the fast-growing field of new materials. The core competitive barriers are R & D capability, industrial chain verification threshold, service capability, etc. with policy support, China’s new chemical materials industry is expected to usher in an accelerated growth period. We recommend high-quality targets of new chemical materials with strong R & D capability and excellent management in the core supply chain, mainly including electronic chemicals (semiconductor materials, display materials, 5g materials, etc.), new energy materials, pharmaceutical intermediates and other fields. Give the industry a “recommended” rating.
Industry information update:
Semiconductor related:
On December 29, 2021, the big semiconductor industry network reported that Great Wall Motor Company Limited(601633) signed a strategic investment agreement with Hebei Tongguang Semiconductor Co., Ltd., an industry-leading third-generation semiconductor enterprise, and officially entered the third-generation semiconductor core industry.
New energy materials related:
On December 30, 2021, China Energy Network reported that the liquid sunlight methanol synthesis project won the USD 1 million award of the first Tera award smart energy innovation competition! In addition to the huge bonuses, Hong Kong and China Gas Group also reached strategic cooperation intentions with the award-winning projects of the competition – Dalian Institute of Chemical Physics and new energy company of state power investment group, and preliminarily reached investment intentions with greenrogen and luquos Energy Limited. In the future, Hong Kong and China Gas Group will jointly carry out application research, product development and demonstration projects of relevant core technologies with Dalian Institute of Chemical Physics, explore relevant technical solutions under the scenario of Zero Carbon Industrial Park, and jointly promote the commercial application of liquid sunshine methanol synthesis products and technologies.
On December 31, 2021, the cable network reported that the global installed capacity of renewable energy is expected to increase by 270gw in 2022. According to the research of rystad energy, the global installed capacity of new renewable energy will be 227 GW in 2021, with an annual growth rate of 4.7%. Due to the growth of Cecep Solar Energy Co.Ltd(000591) and hydrogen energy, it is expected that the global installed capacity of new renewable energy will reach 270 GW next year.
Key enterprise information update:
Shandong Shida Shenghua Chemical Group Company Limite(603026) : on December 28, 2021, the company announced that its wholly-owned subsidiary invested in the construction of 11000 T / a additive project, 20000 t / a silicon-based negative electrode project and 100000 t / a methyl ethyl carbonate unit project: Shenghua new energy technology (Dongying) Co., Ltd., a wholly-owned subsidiary of the company, plans to invest in the construction of 11000 T / a additive project. The total investment of the project is expected to be 280 million yuan, and the construction period is 24 months. It is expected to be completed and put into operation in December 2023. Shenghua new energy technology (Dongying) Co., Ltd., a wholly-owned subsidiary of the company, plans to invest in the construction of 20000 t / a silicon-based anode project. The total investment of the project is expected to be 733.24 million yuan, including 361.56 million yuan. The working capital is 371.68 million yuan. The construction period is 24 months, and it is expected to be completed and put into operation in December 2023. Shenghua new energy technology (Dongying) Co., Ltd., a wholly-owned subsidiary of the company, plans to invest in the construction of 100000 t / a methyl ethyl carbonate unit project. The total investment of the project is expected to be 487 million yuan, which is expected to be completed and put into operation in December 2023. The total investment of the project is 487 million yuan, of which the construction investment is 395.9496 million yuan.
Risk warning: the epidemic situation may lead to the risk of large market fluctuations; The emergence of alternative technologies; Industry competition intensifies; The economy fell sharply; The product price fluctuates greatly; Focus on the company’s performance not meeting expectations.
