Market review this week (April 11 – April 15)
The new materials index fell 6.44%, weaker than the gem index. OLED materials fell 6.36%, semiconductor materials fell 6.26%, membrane materials fell 6.85%, additives fell 0.38%, carbon fiber fell 9.39% and tail gas treatment fell 2.81%.
The top five gainers are Xinxiang Richful Lube Additive Co.Ltd(300910) , Nanjing Cosmos Chemical Co.Ltd(300856) , ST loctite, Sobute New Materials Co.Ltd(603916) , Jiangyin Jianghua Microelectronics Materials Co.Ltd(603078) ; The top five declines were Zhejiang Yongtai Technology Co .Ltd(002326) , Jiangsu Yuxing Film Technology Co.Ltd(300305) , Cathay Biotech Inc(688065) , Tanyuan Technology Co.Ltd(603133) , Suzhou Jinhong Gas Co.Ltd(688106) .
Weekly observation of new materials: OLED penetration has increased rapidly, and upstream materials have fully benefited
OLED is a new generation of display technology, which has obvious advantages in weight, thickness, flexible display and transparent display. The substitution trend of TFT-LCD panel is gradually strengthened, and AMOLED panel is its main product. Smart phones are the most important application scenario of OLED panels. According to Everdisplay Optronics (Shanghai) Co.Ltd(688538) prospectus data, smart phones accounted for 80.34% of downstream applications of AMOLED panels in 2019. With the rise of folding screen mobile phones, the flexible and foldable characteristics of OLED panels will further enhance its penetration in smart phones. According to the data of Everdisplay Optronics (Shanghai) Co.Ltd(688538) prospectus, the penetration rate of AMOLED panel in global smart phones is expected to reach 45.73% in 2023. Global AMOLED panel production is mainly concentrated in Korea and Mainland China. China’s OLED panel enterprises headed by BOE are planning or building multiple production lines. Chinese mainland production will be fully released with the production line being put into production and climbing, and the global market share is expected to increase. The upstream materials of OLED panel include OLED intermediates, pre sublimation materials and terminal materials. The large amount of OLED panel drives the rapid development of upstream materials Puyang Huicheng Electronic Material Co.Ltd(300481) products include OLED organic photoelectric material intermediates. The company continuously improves the synthesis process to reduce the production cost, and vigorously develops OLED functional materials Valiant Co.Ltd(002643) products include OLED organic photoelectric material intermediates, pre sublimation materials and finished materials. The finished OLED materials of the holding subsidiary March technology have been verified and supplied by downstream customers. The holding subsidiary Jiumu chemical launched the “OLED display materials and other functional materials project” in Yantai Chemical Park Xi’An Manareco New Materials Co.Ltd(688550) has achieved full coverage of the main OLED terminal materials, and the products have covered the first and second generation light-emitting materials, both of which have achieved large-scale sales. In addition, the company actively carried out research and development related to the third generation of light-emitting technology and established long-term cooperative relations with 10 international leading OLED terminal material enterprises, including DuPont. Beneficiary objects: Puyang Huicheng Electronic Material Co.Ltd(300481) , Valiant Co.Ltd(002643) , Xi’An Manareco New Materials Co.Ltd(688550) .
Important company announcements and industry information
[ Jiangsu Sidike New Materials Science & Technology Co.Ltd(300806) ] the company achieved a revenue of 1.984 billion yuan in 2021, with a year-on-year increase of 28.89%; The net profit attributable to the parent company was 210 million yuan, a year-on-year increase of 15.59%. In the first quarter of 2022, the company is expected to realize a net profit attributable to the parent company of 178308 – 190195 million yuan, with a year-on-year increase of 200220%.
[ Red Avenue New Materials Group Co.Ltd(603650) ] the company achieved a revenue of 2.308 billion yuan in 2021, with a year-on-year increase of 12.83%; The net profit attributable to the parent company was 327 million yuan, a year-on-year decrease of 20.44%.
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) , Jiangxi Hungpai New Material Co.Ltd(605366) , Sunresin New Materials Co.Ltd Xi’An(300487) , Hunan Sokan New Materials Co.Ltd(688157) , etc. Risk tip: technological breakthrough is less than expected, industry competition intensifies, raw material price fluctuations, etc.
