Key investment points:
This week, the prosperity index of Guohai chemical industry was 151.02, down 0.12 month on month. Comprehensively consider the operation and prosperity of chemical enterprises, and give the industry a “recommended” rating.
Investment advice: focus on integration and downstream enterprises.
With the release of IEA crude oil inventory, Brent oil price has dropped from the high point of 140 US dollars / barrel to 106 US dollars / barrel. In the short term, the top of oil price confirmed that the soaring prices of crude oil, coal and natural gas in the early stage, the resurgence of the epidemic in China, the high price of sea freight, the increase of the cost of the overall chemical enterprises, the obstruction of price transmission and the compression of profits. In the later stage, high priced raw materials have begun to suppress downstream demand, increase the supply of raw materials, and gradually ease the pressure on raw material prices; Stabilize the economic policy and look forward to the later stage. The profits of chemical integration and enterprises close to the terminal are expected to recover. It is suggested to focus on the integrated enterprises with new production capacity and chemical enterprises close to the terminal industry. At the same time, the loss of profits in downstream industries due to high raw material costs will be alleviated and prices will be gradually transmitted to the downstream. The new material industry will be driven by new energy and emerging industries and usher in a good opportunity for development.
With a focus on the recommendation of ‘s Wanhua Chemical Group Co.Ltd(600309) \ , satellite chemistry, Jiangsu Eastern Shenghong Co.Ltd(000301) , Tongkun Group Co.Ltd(601233) , Hengyi Petrochemical Co.Ltd(000703) , Xinfengming Group Co.Ltd(603225) ), coal chemical industry ( Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) , Ningxia Baofeng Energy Group Co.Ltd(600989) , attention Luxi Chemical Group Co.Ltd(000830) ) The phosphorchemical industry ( Xinyangfeng Agricultural Technology Co.Ltd(000902) (etc.) and other companies.
In the long run, we believe that China’s leading companies have the ability to plan a global blueprint and move towards global leaders. We suggest that we should work with excellent enterprises and invest in those enterprises with efficient execution. This efficient ability will make the profitability of Chinese enterprises higher than that of international competitors, with higher rate of return and larger scale in the future. Therefore, the market value level of foreign giants may not be the ceiling of Chinese Enterprises. For example, Wanhua Chemical Group Co.Ltd(600309) , which is building an integrated industrial chain, continuously increasing R & D investment, expanding in multiple categories and marching towards a first-class chemical new material company with global operation, has made a synchronous breakthrough in original packaging replacement, China and foreign countries go hand in hand, pointed to Shandong Linglong Tyre Co.Ltd(601966) , the top five in the global tire industry in 2030, and Hengli Petrochemical Co.Ltd(600346) and Rongsheng Petro Chemical Co.Ltd(002493) with high starting point, high standard and high efficiency.
We focus on the leaders in various sub sectors that are still underestimated, such as Wanhua Chemical Group Co.Ltd(600309) Shandong Linglong Tyre Co.Ltd(601966) Sailun Group Co.Ltd(601058) Qingdao Sentury Tire Co.Ltd(002984) Rongsheng Petro Chemical Co.Ltd(002493) For a long- 7 , plant growth regulator faucet Sichuan Guoguang Agrochemical Co.Ltd(002749) , titanium dioxide faucet Lb Group Co.Ltd(002601) , spandex and adipic acid faucet Huafon Chemical Co.Ltd(002064) Organic fine chemicals leader Valiant Co.Ltd(002643) , dicamba enterprise Jiangsu Changqing Agrochemical Co.Ltd(002391) , oil chemical leader Zanyu Technology Group Co.Ltd(002637) etc.
U.S. Commerce Department of the U.S. Department of Commerce, the local time 2020. On May 15, 2020, the local time of the U.S. Department of Commerce in the U.S. Department of Commerce in the U.S. on May 15, 2020. A statement released on May 15, 2020 May 15, the local time of the U.S. Department of Commerce on May 15, 2020 May 15, 2020, the local time of the local time of the local time of the U.S. Department of Commerce on May 15, 2020. A statement released on May 15, 2020. A statement released on May 15, 2020. A statement said that it would comprehensively restrict Huawei from purchasing semiconthat use U.S. software and technology to produce semiconthat uses U.S. software and technology. The strategic position of semiconductor materials is becoming increasingly prominent, and the strategic position of semiconductor materials is becoming increasingly prominent. It is suggested to focus on the proposal to focus attention on companies such as Shanghai Bright Power Semiconductor Co.Ltd(688368) 83 Shanghai Bright Power Semiconductor Co.Ltd(688368) 83838383838323 the. In addition, we hope that the new material will continue to expand, and will have strong anti-aging technology, such as Rianlon Corporation(300596) , Shandong Dawn Polymer Co.Ltd(002838) , Sunresin New Materials Co.Ltd Xi’An(300487) , etc.
Key target information tracking
[ Wanhua Chemical Group Co.Ltd(600309) ] according to Zhuo Chuang information, the price of pure MDI was 21750 yuan / ton on April 22, down 133.33 yuan / ton from April 15; On April 22, the price of aggregated MDI was 18850 yuan / ton, an increase of 550 yuan / ton compared with April 15. On April 18, 2022, Yantai Ecological Environment Bureau accepted and publicized the environmental impact assessment documents of Wanhua Penglai Industrial Park high performance new material integration project. According to the WeChat official account of the petroleum and chemical park, the Fuzhou development and Reform Commission held the second quarter of April 19th focused on the activities of starting, and the annual Wanhua Chemical Group Co.Ltd(600309) (Fujian) production of 1 million 80 thousand tons of aniline projects ranked among them. The total investment of the project is 2.73 billion yuan. The construction content of the project mainly includes the annual production capacity of 1.08 million tons of aniline, 1.44 million tons of nitrobenzene and 1.08 million tons of nitric acid. According to the report of Sichuan economic news, Wanhua Chemical Group Co.Ltd(600309) Sichuan Meishan base modified material device, ternary cathode device and biological experimental base have been put into operation. The natural gas to acetylene industrial chain, lithium iron phosphate and NMP are under construction, and ternary cathode, polylactic acid and nutritional chemicals are to be started this year. After the completion of these projects, it is expected to achieve an annual output value of 30 billion yuan and tax revenue of 800 million yuan.
[ Shandong Linglong Tyre Co.Ltd(601966) ] according to Bloomberg, the FBX index from China to the West US port this week was US $157637/feu, down – 0.34% from last week; The FBX index from China to Meidong port was USD 171497/feu, up + 0.01% from last week; The FBX index from China to Europe was US $118820/feu, down from – 1.24% last week. According to tnsc, the freight from Thailand to the western US port this week was US $11200 / feu, a month on week increase of – 11.46%; The freight from Thailand to Meidong port was US $13945 / feu, down from – 16.72% last week.
On April 19, the company issued an announcement to disclose the issuance of non-public A shares. The issuance price was 21.45 yuan / share, the number of shares issued was 112 million, the total amount of funds raised was 2.405 billion yuan, the issuance cost was 19.938 million yuan (excluding tax), and the net amount of funds raised was 2.385 billion yuan. According to the news of the tires WeChat official account, a press release recently released by Linglong American Limited, Medina, Ohio, showed that the company had installed the original tyres for 2022 Ford Maverick models. According to the data of the General Administration of customs, the total export volume of China’s rubber tires in March 2022 was 640000 tons, a year-on-year decrease of 3.9% and a month on month increase of 42.2%; The export value was 10.469 billion yuan, up 5.4% year-on-year and 39.13% month on month.
[ Sailun Group Co.Ltd(601058) ] on April 18, the company announced that the company received the notification letter from Mr. Zhou rugang. From April 13, 2022 to April 18, 2022, the company reduced 280000 shares of the company, accounting for 0.009% of the total share capital of the company. As of the disclosure date of this announcement, the implementation of Mr. Zhou rugang’s shareholding reduction plan has been completed.
[ Qingdao Sentury Tire Co.Ltd(002984) ] on April 22, the company issued an announcement on adjusting the price of Kirin convertible bonds and shares, and the price of “Kirin convertible bonds” was adjusted from 34.85 yuan / share to 34.68 yuan / share. “Qilin convertible bonds” has not entered the stock conversion period and does not involve the suspension of stock conversion. The adjusted stock conversion price will take effect from April 29, 2022.
[ Hengli Petrochemical Co.Ltd(600346) ] according to Zhuo Chuang information, the inventory of polyester filament on April 21 was 31.3 days, down 0.2 days month on month; The inventory of pta4 on June 22 was 2.701 million tons, down 28000 tons month on month. On April 22, the price of polyester filament FDY was 8800 yuan / ton, an increase of 250 yuan / ton compared with April 15; On April 22, PTA price was 6275 yuan / ton, up 85 yuan / ton from April 15. According to the WeChat public number of China Construction Machinery Industry Association, the two Hengli Petrochemical Co.Ltd(600346) PTA two stage distillation column of Huizhou’s total official account of more than 1100 tons has been successfully installed in a single time, which has created favorable conditions for the prefabrication and installation of steel pipelines.
[ Rongsheng Petro Chemical Co.Ltd(002493) ] on April 20, the company announced that the bondholders of “20 Rongsheng G1” of the company can choose to sell back all or part of the 20 Rongsheng G1 held by them to the company during the resale registration period (from March 23, 2022 to March 25, 2022). The number of valid resale declarations during this resale registration period is 2.5367 million, the amount of resale is 254 million yuan (excluding interest), and the remaining number of unsold bonds is 7.4633 million.
[ Jiangsu Eastern Shenghong Co.Ltd(000301) ] on April 18, the company released its annual report for 2021: the operating revenue was 51.722 billion yuan, a year-on-year increase of 53.48% (after adjustment); The net profit attributable to the shareholders of the listed company was 4.544 billion yuan, a year-on-year increase of 492.66% (after adjustment); The weighted average return on net assets was 17.11%, with a year-on-year increase of 13.70 percentage points (after adjustment).
[ Hengyi Petrochemical Co.Ltd(000703) ] there is no update information.
[ Tongkun Group Co.Ltd(601233) ] according to Tong Kun’s official account of WeChat public, in April 19th, Hengyang project weaving workshop was formally put into production. This also marked a new breakthrough in the development mode of Tong Kun’s whole industry chain, and successfully achieved “a drop of oil” to “a cloth”. Xinfengming Group Co.Ltd(603225) , according to the official account of WeChat holding WeChat, recently, led by Xinfengming Group Co.Ltd(603225) group, sixteen units, including Donghua University, Hengyi group, Rongsheng group, Sheng Hong group, Yiwu Hua Ding nylon, Fujian polyhong fiber, Xuzhou Sloan, and rongsha group, have jointly undertaken the project of “flexible and efficient preparation technology of polyester and polyamide fiber” in 13th Five-Year, which has been accepted by comprehensive performance evaluation.
[ Xinyangfeng Agricultural Technology Co.Ltd(000902) ] according to Zhuo Chuang information, the price of monoammonium phosphate this week was 3608 yuan / ton, up 33 yuan / ton month on month; The price of compound fertilizer was 3850 yuan / ton, up 287.5 yuan / ton month on month. On April 19, the company released the first quarter report of 2022. In the first quarter of 2022, the company achieved an operating revenue of 4.545 billion yuan, a year-on-year increase of 37.25%; The net profit attributable to the shareholders of the listed company was 407 million yuan, a year-on-year increase of 24.14%.
[ Chengdu Wintrue Holding Co.Ltd(002539) ] on April 22, the company issued Chengdu Wintrue Holding Co.Ltd(002539) : feasibility analysis report on the use of funds raised by non-public development banks (Revised Version). The company plans to use the funds raised by non-public offering of shares for the “linkage production project of new energy materials and slow and controlled release compound fertilizer through comprehensive utilization of phosphate rock resources”. The total amount of funds raised by non-public offering of shares does not exceed 1.996 billion yuan.
[ Lb Group Co.Ltd(002601) ] on April 19, the company announced that the company and Xiamen Itg Group Corp.Ltd(600755) signed the strategic cooperation framework agreement, which mainly includes that Longbai plans to supply 200000 tons of battery grade iron phosphate to Xiamen Itg Group Corp.Ltd(600755) from 2022 to 2025 Xiamen Itg Group Corp.Ltd(600755) plans to supply 50000 tons of battery grade lithium carbonate, 100000 tons of needle coke, 300000 tons of petroleum coke, 200000 tons of forged coke and 500000 tons of titanium zirconium heavy minerals to Longbai from 2022 to 2025. On April 20, the company released the first quarterly report of 2022: in Q1 of 2022, the company realized an operating revenue of 6.068 billion yuan, a year-on-year increase of + 30.63% and a month on month increase of + 14.54%; The net profit attributable to the parent company was 1.064 billion yuan, a year-on-year increase of + 0.03% and a month on month increase of + 25.83%.
[ Shanghai Zhongyida Co.Ltd(600610) ] on April 19, the company released its annual report for 2021. In 2021, the company achieved an operating revenue of 1.394 billion yuan, an increase of 29.20% year-on-year; The net profit attributable to the shareholders of the listed company was 42 million yuan, a year-on-year decrease of 8.06%; The basic earnings per share was 0.0391 yuan, a year-on-year decrease of 8.00%.
[ China National Chemical Engineering Co.Ltd(601117) ] has no update information.
[ Zhejiang Double Arrow Rubber Co.Ltd(002381) ] on April 22, the company released its annual report for 2021, which achieved an annual operating revenue of 1.916 billion yuan, a year-on-year increase of 5.80%; The net profit attributable to the parent company was 149 million yuan, a year-on-year decrease of 52.82%.
[ Shandong Yanggu Huatai Chemical Co.Ltd(300121) ] according to Zhuo Chuang consulting, on April 22, the daily market price of rubber accelerator M in Hengshui market was 17500 yuan / ton, unchanged from April 15; The daily market price of accelerator NS was 25250 yuan / ton, unchanged month on month on April 15; The daily market price of accelerator TMTD was 20250 yuan / ton, unchanged on April 15. [ Huafon Chemical Co.Ltd(002064) ] according to wind, the 40d of spandex was 51000 yuan / ton on April 22, unchanged month on month on April 14, and decreased by 3000 yuan / ton month on month. [ Zhejiang Nhu Company Ltd(002001) ] according to wind, on April 21, 2022, the price of vitamin A was 210 yuan / kg, down 5 yuan / kg from April 15; The price of vitamin E was 90 yuan / kg, unchanged on April 15.
[ Tangshan Sanyou Chemical Industries Co.Ltd(600409) ] according to Zhuo Chuang information, on April 22, the Chinese market price index of viscose staple fiber 1.5D was 14300, unchanged month on month. According to Zhuo Chuang information, on April 22, the Chinese market price of light soda ash in China was 2705 yuan / ton, up 55 yuan / ton month on month.
On April 20, the company announced that as of April 19, 2022, the controlling shareholder alkali group’s planned reduction time expired, and it had reduced 14655100 shares of the company through centralized bidding transactions, accounting for 0.71% of the total share capital of the company. The proportion of shares held by the alkali industry group decreased from 36.20% before the reduction to 35.49%. The implementation of the reduction plan of the alkali industry group has been completed.
[ Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) ] according to wind, the market price of ethylene glycol in China on April 22 was 4918 yuan / ton, up 103 yuan / ton month on month. According to Zhuo Chuang information, on April 22, the listing price of Shandong Hualu-Hengsheng Chemical Co.Ltd(600426) urea small particles was 2920 yuan / ton, unchanged month on month.
[ Ningxia Baofeng Energy Group Co.Ltd(600989) ] on April 19, the company released the first quarter report of 2022. In the first quarter of 2022, the company achieved an operating revenue of 6.515 billion yuan, a year-on-year increase of 30.83%; The net profit attributable to shareholders of listed companies was 1.746 billion yuan, a year-on-year increase of 1.07%.
[ Shandong Sinocera Functional Material Co.Ltd(300285) ] there is no update information.
[ Rayitek Hi-Tech Film Company Ltd.Shenzhen(688323) ] on April 21, the company issued an announcement on the listing and circulation of some restricted shares in the initial public offering. The number of restricted shares in this listing and circulation is 572339 million shares. The restriction period is 12 months from the date of listing of the company’s shares, and the date of this listing and circulation is April 28, 2022.
[ Zanyu Technology Group Co.Ltd(002637) ] on April 20, the company released its annual report for 2021, realizing an operating revenue of 11.201 billion yuan, a year-on-year increase of 43.54%; The net profit attributable to the shareholders of the listed company was 796 million yuan, a year-on-year increase of 130.92%; The weighted average return on net assets was 21.88%, an increase of 9.56 percentage points year-on-year. The gross profit margin of sales was 14.80%, a year-on-year decrease of 1.02 percentage points; The net profit margin of sales was 7.18%, with a year-on-year increase of 2.59 percentage points.
[ Anhui Jinhe Industrial Co.Ltd(002597) ] recently, the company said on the investor interaction platform that the main project of sulfoxide chloride phase II has been completed and has entered the stage of equipment and instrument installation. The company will speed up the construction and strive to put into operation as soon as possible.
[ Jiangsu Yangnong Chemical Co.Ltd(600486) ] according to the official account of Sino-Agri Leading Biosciences Co.Ltd(603970) , the price of Japanese cypermethrin in April was 17 yuan, 205 thousand yuan per ton, which was flat compared to last April 10th. [ Lier Chemical Co.Ltd(002258) ] according to the Sino-Agri Leading Biosciences Co.Ltd(603970) official account, the price of the 17 week old ammonium phosphate raw material in Japan was 205 thousand yuan / ton in April, 4 yuan last week.
