Market review of this week (March 28 – April 1)
The new materials index fell 0.2%, weaker than the gem index. OLED materials fell 0.53%, semiconductor materials fell 1.77%, membrane materials fell 5.61%, additives fell 1.35%, carbon fiber fell 2.91% and tail gas treatment fell 1.24%. The top five increases are Grinm Advanced Materials Co.Ltd(600206) , Puyang Huicheng Electronic Material Co.Ltd(300481) , Xinyaqiang Silicon Chemistry Co.Ltd(603155) , Anji Microelectronics Technology (Shanghai) Co.Ltd(688019) , Tangshan Sunfar Silicon Industry Co.Ltd(603938) ; The top five declines were Jiangsu Shuangxing Color Plastic New Materials Co.Ltd(002585) , Phichem Corporation(300398) , Shenzhen Wote Advanced Materials Co.Ltd(002886) , Shenzhen Sunnypol Optoelectronics Co.Ltd(002876) , Sichuan Em Technology Co.Ltd(601208) .
Weekly observation: FEP has great demand potential, and China’s leading fluorochemical enterprises have arranged one after another
Poly (perfluoroethylene propylene) (FEP) is a crystalline polymer of tetrafluoroethylene (TFE) and hexafluoropropylene (HFP), in which the content of HFP is about 15%. It is a modified material of polytetrafluoroethylene (PTFE). FEP is one of the common fluoroplastics. Among fluoroplastics, FEP ranks third in demand. It is widely used in aerospace, locomotive and vehicle, energy, non-ferrous metal smelting, oil mining, motor and other fields. In the information transmission wires and cables of buildings in developed countries, the utilization rate of FEP cable has exceeded 70%. With its rapid popularization in developing countries, the market capacity of this part will grow rapidly. According to the data of Huajing Industry Research Institute and forward looking Industry Research Institute, China’s FEP output has increased from 4900 tons in 2010 to 23000 tons in 2020. It is expected that the output will reach 57200 tons by 2025. The demand will further increase significantly in the future and there is a broad space. Although the scale of China’s FEP industry continues to expand, there is still a gap compared with foreign enterprises, and China’s leading fluorochemical enterprises are accelerating to break the situation Zhejiang Yonghe Refrigerant Co.Ltd(605020) FEP products are one of the company’s advantageous varieties, with an existing production capacity of 4200 tons. The company announced in 2021 that it plans to invest in the construction of a total scale of 13500 T / a FEP project, of which the scale of FEP (resin) phase I is 4500 T / A and the new scale of FEP phase II is 6000 T / A; FEP (emulsion) scale of 3 thousand tons / year, bring continuous growth for the company. Zhejiang Juhua Co.Ltd(600160) fluoropolymer is in a leading position in China. The 10kt / a FEP expansion project is under implementation. At present, it has an FEP capacity of 3kt / A Haohua Chemical Science & Technology Corp.Ltd(600378) Chenguang Institute announced in 2021 that it plans to invest 2.15 billion yuan to build a 26000 T / a high-performance organic fluorine material project, including a new project FEP of 6000 T / A. Beneficiary objects: Zhejiang Yonghe Refrigerant Co.Ltd(605020) , Zhejiang Juhua Co.Ltd(600160) , Haohua Chemical Science & Technology Corp.Ltd(600378) .
Important company announcements and industry information
[ Puyang Huicheng Electronic Material Co.Ltd(300481) ] the company achieved a 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 253 million yuan, a year-on-year increase of 40.66%. In 2022q1, the net profit attributable to the parent company is expected to be 705306 – 846367 million yuan, with a year-on-year increase of 50% – 80%.
[ Wuxi Acryl Technology Co.Ltd(603722) ] the company achieved a revenue of 880 million yuan in 2021, with a year-on-year increase of 63.60%; The net profit attributable to the parent company was 100 million yuan, a year-on-year increase of 93.97%.
[ Rianlon Corporation(300596) ] the company received the reply on Approving the registration of Rianlon Corporation(300596) issuing shares to Han Qian and others to purchase assets and raise supporting funds issued by the CSRC.
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 of the subject of the subject of the subject of the beneficiary: ‘s Haohua Chemical Science & Technology Corp.Ltd(600378) , Ningbo Solartron Technology Co.Ltd(688299) , Zhejiang Jiemei Electronic And Technology Co.Ltd(002859) , Xi’An Manareco New Materials Co.Ltd(688550) , etc.
Risk tip: technological breakthrough is less than expected, industry competition intensifies, raw material price fluctuations, etc.
