Since the beginning of the year, the sector has lagged slightly behind the market: this week, the chemical (Shenwan) industry index fell by – 2.83%, the gem index rose by 1.81%, the Shanghai and Shenzhen 300 index fell by – 0.94%, the Shanghai Composite Index rose and fell by – 1.77%, and the chemical (Shenwan) sector lagged behind the market by – 1.05 percentage points. Since the beginning of 2020, the chemical (Shenwan) industry index has fallen by – 11.17%, the gem index by – 18.32%, the CSI 300 index by – 13.65%, the Shanghai Composite Index by – 10.68%, and the chemical (Shenwan) sector lags behind the market by – 0.49 percentage points.
Event: on March 15, Tangshan Sanyou Chemical Industries Co.Ltd(600409) announced that in order to accelerate the development of characteristic marine economy, expand the scale of circular economy and build a “three chain group” industrial layout (i.e. “two alkalis and one chemical” circular economy industrial chain, silicone new material industrial chain, fine chemical industrial chain and new energy and new materials “double new” strategic industrial cluster), the total planned investment scale is about 57 billion yuan.
Comments:
Build the industrial layout of “three chain group” and Tangshan Sanyou Chemical Industries Co.Ltd(600409) speed up the transformation of old and new kinetic energy: the industrial layout of the company’s “three chain group” is the best way to overtake in curves and an important measure to comprehensively improve the overall strength and firmly grasp the voice of the industry. The specific implementation plans include: 1) improving the circular economy industrial chain of “two alkali and one chemical”: it is planned to invest 10 billion yuan to improve the circular economy industrial chain of “two alkali and one chemical”. Focus on promoting 300000 tons of caustic soda and downstream products, 300000 tons / year new solvent method green cellulose fiber project, phase I single track 60000 tons / year new solvent method green cellulose fiber production line, etc; 2) Strengthen the industrial chain of silicone new materials: it is planned to invest about 9 billion yuan, focusing on the planning of upstream silica base, monomer capacity expansion, and the development of downstream silicone rubber and other new material industries; 3) Development of Caofeidian fine chemical industry chain: it is planned to invest 16 billion yuan. Relying on the company’s development experience and industrial advantages in the field of salt chemical industry, build a regional circular economy demonstration zone with high standards, and combine with the petrochemical industry and coal chemical industry in Caofeidian chemical park to develop the fine chemical industry in Caofeidian; 4) Build a “double new” strategic industrial cluster of new energy and new materials: during the 14th Five Year Plan period, focus on projects such as photovoltaic and seawater desalination, and plan to develop projects such as 500MW photovoltaic power generation, 50000 T / D seawater desalination, bromine, magnesium and other downstream high value-added new materials; 5) Set up the Research Institute of green chemical industry and new materials, and set up laboratories for new silicone materials and comprehensive utilization of seawater, so as to provide technical support for the development of “three chain group”.
Product prices are mixed: the products with the highest price increases include sulfur (solid sulfur) (yuan / ton) (19.77%), sulfuric acid (98%) (18.18%), ammonium chloride (dry ammonium) (7.41%), ammonium chloride (wet ammonium) (6.48%) and coke (6.08%).
The products with the highest price decline include isobutyraldehyde (- 30.46%), sole stock solution (shoe midsole, East China) (- 20.32%), glycine (- 16.67%), n-butanol (- 12.39%), aluminum fluoride (dry method) (- 12.02%).
Risk warning events: macroeconomic downside risk, crude oil price fluctuation risk and enterprise operation risk.
