Core conclusion
PVDF and iron phosphate prices rose: PVDF quoted 490000 yuan / ton this week, up + 5.4% from last week. The sales volume of new energy vehicles in the downstream has not increased significantly. Limited by the epidemic, local logistics is not smooth, the downstream R142b is higher, and the cost side support is raised again. At present, large enterprises are still actively increasing the order volume, the policy protection tendency for new energy vehicles still exists, and the downstream market of PVDF is still favorable. The price of iron phosphate this week was 25200 yuan / ton, up + 5.0% from last week. The overall enterprise price of iron phosphate is stable, and the market price of upstream phosphoric acid rises slightly. At present, the quotation is 24500 yuan / ton. The price of raw yellow phosphorus is high and the cost is pressurized. At present, the quotation of some phosphoric acid enterprises has increased slightly, the actual transaction price has been gradually implemented, the downstream just needs to purchase, and the transaction of new orders is general.
Zhongfu Shenying will be officially listed and traded from April 6: the issuing price of the company is 29.33 yuan / share, and the total share capital after the issuance is 900 million shares, of which 68.84 million shares are tradable shares without sale conditions, accounting for 7.65% of the total share capital after the issuance. As the leader of China’s carbon fiber civil products, the company has a complete product system. It has systematically mastered the thousand ton large-scale production technology of T700 and T800 carbon fiber and the pilot test technology of T1000. It has realized the full coverage of products with various performance levels such as high strength, high strength medium model and high strength high model, which can meet the needs of different downstream application fields. At present, the company’s carbon fiber production capacity has reached 9500 T / A, which is expected to increase to 13500 T / A in the first quarter of 2022, ranking first in China. With the further improvement of the company’s layout in the field of carbon fiber industrial chain and high-end products, the company’s gross profit margin will have a broad space to improve in the future.
Thematic recommendation: aerogel – the most efficient insulation material, compatible with carbon neutralization and energy saving trend, aerogel is better than traditional thermal insulation materials in terms of heat insulation, long service life, excellent waterproof and fire resistance. It is the most efficient insulation material at present, and it fits the trend of energy saving and emission reduction. Aerogel is a solid material with nano porous network structure and filled with gas dispersed medium in the pores. At present, the main application areas include petrochemical oil pipe and high-temperature reaction device insulation, lithium battery Pack external thermal insulation, lithium battery core insulation, building insulation external wall insulation, outdoor sporting goods and so on.
Compared with the traditional thermal insulation materials, 1) its thermal insulation performance is 2-8 times that of the traditional material, so the aerogel consumption is less under the same heat preservation effect. 2) the aerogel replacement cycle is about 20 years, while the replacement period of the traditional thermal insulation material is about 5 years, so the whole life cycle cost is lower. Over the past 5 years, China’s aerogel market has achieved rapid growth in production and rapid cost reduction through technological progress. Currently, it has a very competitive price performance in petrochemical pipelines, high-temperature reactors, heat pipe networks and lithium batteries. The demand for switching from downstream leading enterprises is strong. Meanwhile, under the current dual carbon policy, energy conservation will become the main theme of the future development of chemical, energy and construction industries.
It is suggested to pay attention to: Jiangxi Chen Guang New Materials Co.Ltd(605399) ( Jiangxi Chen Guang New Materials Co.Ltd(605399) . SH), China National Chemical Engineering Co.Ltd(601117) ( China National Chemical Engineering Co.Ltd(601117) . SH), etc.
Risk warning: the implementation of relevant policies is not as expected.
