1. Correcting the deviation of energy consumption policy, which is good for the leading white horse of coal chemical industry and petrochemical industry in the medium and long term: affected by the dual control of energy consumption and the difficulty of project approval, the growth rate of capital expenditure of leading white horse has been maintained at 2-3% in recent two years, and the capacity of high-quality new projects of many leading chemical enterprises has not been released soon. After correcting the deviation of energy consumption policy, Under the guidance of the policy of “energy consumption of raw materials is not included in the total energy consumption control”, the recalculation of carbon emissions of the project will reduce the approval threshold for new capacity of leading Baima high-quality projects in the future and reflect the growth again. Focus on: Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) , Ningxia Baofeng Energy Group Co.Ltd(600989) and other coal chemical leaders, Wanhua Chemical Group Co.Ltd(600309) , Rongsheng Petro Chemical Co.Ltd(002493) , Hengli Petrochemical Co.Ltd(600346) , Jiangsu Eastern Shenghong Co.Ltd(000301) , Zhejiang Satellite Petrochemical Co.Ltd(002648) and other petrochemical leading enterprises.
2. Continue to be optimistic about the upstream materials of the new energy industry chain: there has been an overall correction in the new energy industry chain recently, but the prices of R142b PVDF, iron phosphate, lithium iron phosphate and other products we focus on tracking are still strong. Continue to be firmly optimistic about the upstream materials with tight supply and demand in the industry in 2022 and expected to continue to grow under the large amount of new capacity: lithium battery binder Diaphragm coating materials PVDF (Dongyue Group, Lecron Industrial Development Group Co.Ltd(300343) , Zhejiang Juhua Co.Ltd(600160) , Guangdonghectechnologyholdingco.Ltd(600673) ), iron phosphate and lithium iron phosphate ( Guizhou Chanhen Chemical Corporation(002895) , Yunnan Yuntianhua Co.Ltd(600096) , Hubei Xingfa Chemicals Group Co.Ltd(600141) , Hubei Yihua Chemical Industry Co.Ltd(000422) , lithium battery electrolyte materials ( Zhejiang Yongtai Technology Co .Ltd(002326) , Great Chinasoft Technology Co.Ltd(002453) , Liao Ning Oxiranchem Inc(300082) , Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) , satellite Chemistry), upstream materials of photovoltaic industry chain ( Jiangsu Eastern Shenghong Co.Ltd(000301) , Levima Advanced Materials Corporation(003022) , Sichuan Hebang Biotechnology Co.Ltd(603077) , Zhejiang Hailide New Material Co.Ltd(002206) ) Upstream materials of wind power industry chain (Jilin Carbon Valley, Jilin chemical, Weihai Guangwei Composites Co.Ltd(300699) , Kangda New Materials( Group) Co.Ltd(002669) , Yangzhou Chenhua New Material Co.Ltd(300610) , Wuxi Acryl Technology Co.Ltd(603722) , Zhejiang Huangma Technology Co.Ltd(603181) ).
3. Focus on business continuity and profit recovery sub industries: pesticides ( Jiangsu Yangnong Chemical Co.Ltd(600486) , Shandong Weifang Rainbow Chemical Co.Ltd(301035) , Hailir Pesticides And Chemicals Group Co.Ltd(603639) , Limin Group Co.Ltd(002734) ), vitamins ( Zhejiang Nhu Company Ltd(002001) , Zhejiang Medicine Co.Ltd(600216) , Brother Enterprises Holding Co.Ltd(002562) , Zhejiang Garden Bio-Chemical High-Tech Co.Ltd(300401) ), glyphosate ( Hubei Xingfa Chemicals Group Co.Ltd(600141) ), caffeine ( Cspc Innovation Pharmaceutical Co.Ltd(300765) , Shandong Xinhua Pharmaceutical Company Limited(000756) )
4. Promising consumer growth stocks and new material growth stocks with high ceiling and stable profits: artificial meat and plant capsules ( Shandong Head Co.Ltd(002810) ), non saccharification trend ( Anhui Jinhe Industrial Co.Ltd(002597) ), national six industrial chain ( Actblue Co.Ltd(300816) , Luoyang Jalon Micro-Nano New Materials Co.Ltd(688357) , Xinxiang Richful Lube Additive Co.Ltd(300910) ), degradable and renewable plastics ( Shandong Ruifeng Chemical Co.Ltd(300243) , Beijing Sanlian Hope Shin-Gosentechnical Service Co.Ltd(300384) , Kingfa Sci.& Tech.Co.Ltd(600143) , Red Avenue New Materials Group Co.Ltd(603650) ). Semiconductors, display materials and military semiconductors: semiconductor packaging materials ( Great Chinasoft Technology Co.Ltd(002453) ), photoresists (Nanjing Everbright, Red Avenue New Materials Group Co.Ltd(603650) , Jingrui), semiconductor precursors ( Jiangsu Yoke Technology Co.Ltd(002409) ), special gases ( Haohua Chemical Science & Technology Corp.Ltd(600378) , Guangdong Huate Gas Co.Ltd(688268) , Jiangsu Yoke Technology Co.Ltd(002409) ), wet electronic chemicals ( Jiangyin Jianghua Microelectronics Materials Co.Ltd(603078) , Jingrui, Phichem Corporation(300398) ), CMP polishing materials ( Hubei Dinglong Co.Ltd(300054) ). Military industry: special chemicals ( Haohua Chemical Science & Technology Corp.Ltd(600378) ), aramid fiber ( Yantai Tayho Advanced Materials Co.Ltd(002254) ), carbon fiber ( Weihai Guangwei Composites Co.Ltd(300699) ). New display fields: optical film ( Sichuan Em Technology Co.Ltd(601208) ), organic light-emitting materials ( Valiant Co.Ltd(002643) , Great Chinasoft Technology Co.Ltd(002453) ), PI materials ( Rayitek Hi-Tech Film Company Ltd.Shenzhen(688323) ).
Risk tip: macroeconomic growth is lower than expected; The product price fluctuates greatly; International oil prices fell sharply; The construction progress of new projects is less than expected; Repeated epidemic, etc
