Key investment points:
This week, the prosperity index of Guohai chemical industry was 149.88, down 1.14 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 107.42 US dollars / barrel. In the short term, the top of oil price confirms 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 cost of the overall chemical enterprises has increased, the price transmission has been blocked, and the profit has been compressed. 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 underrated. For example, the Wanhua Chemical Group Co.Ltd(600309) \ , Hengyi Petrochemical Co.Ltd(000703) , Xinfengming Group Co.Ltd(603225) ), Xinyangfeng Agricultural Technology Co.Ltd(000902) and Chengdu Wintrue Holding Co.Ltd(002539) , rubber auxiliary faucet Shandong Yanggu Huatai Chemical Co.Ltd(300121) 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 are optimistic about the continuous capacity expansion of new materials in the follow-up, and have strong technical content of polymer anti-aging agent leader Rianlon Corporation(300596) Shandong Dawn Polymer Co.Ltd(002838) Shandong Dawn Polymer Co.Ltd(002838) .
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 29, unchanged month on month on April 22; On April 29, the price of aggregated MDI was 18375 yuan / ton, down 475 yuan / ton from April 22. On April 26, the company released the first quarterly report of 2022: in Q1 of 2022, the company achieved a revenue of 41.784 billion yuan, a year-on-year increase of 33.44% and a month on month increase of 9.33%; The net profit attributable to the parent company was 5.374 billion yuan, a year-on-year decrease of 18.84% and a month on month increase of 5.23%; On April 26, the ecological environment bureau of the Management Committee of Ningdong energy and chemical industry base publicized the EIA documents of the 300000 t / a MDI separation project of Wanhua Chemical Group Co.Ltd(600309) (Ningxia) Co., Ltd. for examination and approval. The total investment of the project is 487 million yuan, mainly including 10654 tons of MDI-50, 42400 tons of mdi-100, 63500 tons of mdi-1102, 183296 tons of pm-200 and 200 tons of chlorobenzene.
[ Shandong Linglong Tyre Co.Ltd(601966) ] on April 29, the company released the annual report of 2021 and the report of the first quarter of 2022. In 2021, the company achieved a total revenue of 18.579 billion yuan, a year-on-year increase of 1.07%; The net profit attributable to the listed company was RMB 6.489 billion, a year-on-year decrease of 4.87%; After deducting non recurring profits and losses, the net profit attributable to the shareholders of the listed company was 642 million yuan, a year-on-year decrease of 69.20%; The basic earnings per share was 0.58 yuan, a year-on-year decrease of 68.13%; The weighted average return on net assets was 4.79%, a year-on-year decrease of 12.90 percentage points. In the first quarter of 2022, the company achieved an operating revenue of 4.351 billion yuan, a year-on-year decrease of 12.74%; The net profit attributable to shareholders of listed companies was -92 million yuan, a year-on-year decrease of 118.57%; After deducting non recurring profits and losses, the net profit attributable to shareholders of listed companies was -163 million yuan, a year-on-year decrease of 135.63%; The basic earnings per share was -0.07 yuan, a year-on-year decrease of 118.92%; The weighted average return on net assets was -0.56%, a year-on-year decrease of 3.51 percentage points.
[ Sailun Group Co.Ltd(601058) ] on April 28, the company issued a progress announcement on providing guarantees to subsidiaries. As of April 27, 2022, the guarantee balance provided by the company to its holding subsidiaries was 4.799 billion yuan, accounting for 44.72% of the company’s latest audited net assets; The guarantee balance provided by the holding subsidiaries to the company was 5.030 billion yuan, accounting for 46.87% of the company’s latest audited net assets; The balance of guarantees provided by holding subsidiaries for the other party was 722 million yuan, accounting for 6.72% of the company’s latest audited net assets. The guarantee objects of the company are companies within the scope of the consolidated statements of listed companies, and there is no overdue guarantee up to now. On April 29, the company released the first quarterly report of 2022: in 2022q1, the company achieved a revenue of 4.863 billion yuan, a year-on-year increase of + 17.21% and a month on month increase of + 2.31%; The net profit attributable to the parent company was 322 million yuan, with a year-on-year increase of – 19.57% and a month on month increase of + 3.55%; The net profit attributable to the parent company after deduction was 298 million yuan, a year-on-year increase of – 23.93% and a month on month increase of + 21.17%. The net cash flow from operating activities was 53 million yuan, with a year-on-year increase of – 79.25% and a month on month increase of – 82.62%.
[ Qingdao Sentury Tire Co.Ltd(002984) ] on April 25, the company released the first quarter report of 2022. In the first quarter of 2022, the company achieved an operating revenue of 1.447 billion yuan, an increase of 21.12% year-on-year; The net profit attributable to shareholders of listed companies was 233 million yuan, an increase of 2.66% year-on-year; After deducting non recurring profits and losses, the net profit attributable to the shareholders of the listed company was 230 million yuan, a year-on-year decrease of 8.04%; The basic earnings per share increased by 352.88% year-on-year; The weighted average return on net assets was 3.45%, a year-on-year decrease of 0.55 percentage points.
[ Hengli Petrochemical Co.Ltd(600346) ] according to Zhuo Chuang information, the inventory of polyester filament was 30.4 days on April 28, down 0.9 days month on month; The inventory of pta4 on September 29 was 2.718 million tons, up 17000 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 29, PTA price was 6435 yuan / ton, up 160 yuan / ton from April 22. On April 30, the company released the first quarterly report of 2022: in Q1 of 2022, the company achieved a total operating revenue of 53.406 billion yuan, a year-on-year increase of 0.32% and a month on month increase of 14.83%; The net profit attributable to shareholders of listed companies was 4.223 billion yuan, up 2.71% year-on-year and 49.79% month on month.
[ Rongsheng Petro Chemical Co.Ltd(002493) ] on April 26, the company released its annual report for 2021: the operating revenue was 177024 billion yuan, a year-on-year increase of 65.03%; The net profit attributable to the shareholders of the listed company was 12.824 billion yuan, a year-on-year increase of 75.46%. On April 29, the company released the first quarterly report of 2022: in Q1 of 2022, the company achieved an operating revenue of 68.601 billion yuan, a year-on-year increase of + 98.38% and a month on month increase of + 43.92%; The net profit attributable to the parent company was 3.116 billion yuan, a year-on-year increase of + 18.85% and a month on month increase of + 15.32%.
[ Jiangsu Eastern Shenghong Co.Ltd(000301) ] according to the wechat official account of Shenghong group, on April 25, the 700000 T / a propane dehydrogenation (PDH) unit of the second phase propane industrial chain project of sierbang Petrochemical was successfully started at one time, and the excellent propylene products were successfully produced. On April 29, the company released the first quarterly report of 2022: in Q1 of 2022, the company achieved a revenue of 13.773 billion yuan, a year-on-year increase of 23.58% and a month on month increase of 10.56%; The net profit attributable to the parent company was 688 million yuan, a year-on-year decrease of 53.72% and a month on month increase of 9.66%.
[ Hengyi Petrochemical Co.Ltd(000703) ] on April 26, the company released its annual report for 2021: the revenue was 128980 billion yuan, a year-on-year increase of 49.23% (after adjustment); The net profit attributable to the parent company was 3.408 billion yuan, a year-on-year increase of 10.94% (after adjustment). At the same time, the company released the first quarterly report of 2022: in Q1 of 2022, the company achieved a revenue of 33.553 billion yuan, a year-on-year increase of + 7.63% (after adjustment) and a month on month increase of + 2.99%; The net profit attributable to the parent company was 732 million yuan, with a year-on-year increase of – 39.36% (after adjustment) and a month on month increase of + 125.23%.
[ Tongkun Group Co.Ltd(601233) ] on April 28, the company released its annual report for 2021: the revenue reached 59.131 billion yuan, an increase of 29.01% year-on-year; The net profit attributable to the parent company was 7.332 billion yuan, a year-on-year increase of 158.44% (after adjustment). At the same time, the company released the first quarterly report of 2022: in Q1 of 2022, the company achieved a revenue of 12.994 billion yuan, a year-on-year increase of + 16.27% and a month on month increase of + 47.94%; The net profit attributable to the parent company was 1.503 billion yuan, a year-on-year increase of – 12.45% and a month on month increase of + 28.35%.
[ Xinfengming Group Co.Ltd(603225) ] on April 28, the company released the first quarterly report of 2022: in Q1 of 2022, the company realized an operating revenue of 10.602 billion yuan, a year-on-year increase of – 1.98% and a month on month increase of + 29.28%; The net profit attributable to the parent company was 285 million yuan, with a year-on-year increase of – 42.75% and a month on month increase of – 10.94%.
[ Xinyangfeng Agricultural Technology Co.Ltd(000902) ] according to Zhuo Chuang information, the price of monoammonium phosphate this week was 383333 yuan / ton, up 225 yuan / ton month on month; The price of compound fertilizer was 3870 yuan / ton, up 20 yuan / ton month on month.
[ Chengdu Wintrue Holding Co.Ltd(002539) ] on April 28, 2022, the company issued Chengdu Wintrue Holding Co.Ltd(002539) : report for the first quarter of 2022, which said that in the first quarter of 2022, the company realized an operating revenue of 5.518 billion yuan, an increase of 87.03% year-on-year; The net profit attributable to the shareholders of the listed company was 465 million yuan, a year-on-year increase of 157.59%; After deducting non recurring profits and losses, the net profit attributable to the shareholders of the listed company was 447 million yuan, a year-on-year increase of 127.62%; The basic earnings per share was 0.46 yuan, up 154.57% year-on-year.
[ Lb Group Co.Ltd(002601) ] on April 29, the company announced that the board of directors decided to buy back and cancel 930000 restricted shares granted but not meeting the conditions for lifting the restrictions, accounting for 0.04% of the total share capital of the company.
[ Shanghai Zhongyida Co.Ltd(600610) ] on April 29, 2022, the company issued Shanghai Zhongyida Co.Ltd(600610) : report for the first quarter of 2022, which said that in the first quarter of 2022, the company realized an operating revenue of 343 million yuan, an increase of 2.39% year-on-year; The net profit attributable to the shareholders of the listed company was 18 million yuan, a year-on-year decrease of 20.97%; After deducting non recurring profits and losses, the net profit attributable to shareholders of listed companies was 17 million yuan, a year-on-year decrease of 6.31%; The basic earnings per share was 0.0168 yuan, a year-on-year decrease of 20.75%.
[ China National Chemical Engineering Co.Ltd(601117) ] on April 28, 2022, the company issued China National Chemical Engineering Co.Ltd(601117) : report for the first quarter of 2022, which said that the company achieved an operating revenue of 35.291 billion yuan in the first quarter of 2022, up 41.54% year-on-year; The net profit attributable to the shareholders of the listed company was 977 million yuan, a year-on-year increase of 19.73%; After deducting non recurring profits and losses, the net profit attributable to shareholders of listed companies was 962 million yuan, up 21.13% year-on-year; The basic earnings per share was 0.16 yuan, flat year-on-year. On April 28, 2022, the company issued China National Chemical Engineering Co.Ltd(601117) : 2021 annual report, which said that in 2021, the company realized an operating revenue of 137289 billion yuan, an increase of 25.43% year-on-year; The net profit attributable to shareholders of listed companies was 4.633 billion yuan, up 26.64% year-on-year; After deducting non recurring profits and losses, the net profit attributable to shareholders of listed companies was 3.469 billion yuan, up 2.54% year-on-year; The basic earnings per share was 0.84 yuan, up 18.31% year-on-year.
[ Zhejiang Double Arrow Rubber Co.Ltd(002381) ] on April 29, the company released the first quarter report of 2022. In the first quarter of 2022, the company achieved an operating revenue of 481 million yuan, a year-on-year increase of 27.62%; The net profit attributable to shareholders of listed companies was 32 million yuan, a year-on-year decrease of 43.83%; After deducting non recurring profits and losses, the net profit attributable to the shareholders of the listed company was 30 million yuan, a year-on-year decrease of 40.59%; The net cash flow from operating activities was 77 million yuan, with a year-on-year increase of 25.11%; The basic earnings per share was 0.08 yuan, a year-on-year decrease of 42.86%; The weighted average return on net assets was 1.69%, a year-on-year decrease of 1.21 percentage points.
[ Shandong Yanggu Huatai Chemical Co.Ltd(300121) ] on April 29, the company released the first quarter report of 2022. In the first quarter of 2022, the company achieved an operating revenue of 855 million yuan, a year-on-year increase of 42.24%; The net profit attributable to the shareholders of the listed company was 114 million yuan, a year-on-year increase of 28.21%; After deducting non recurring profits and losses, the net profit attributable to the shareholders of the listed company was 114 million yuan, with a year-on-year increase of 30.37%; The basic earnings per share was 0.30 yuan, with a year-on-year increase of 25.00%; The weighted average return on net assets was 5.70%, with a year-on-year increase of 4.4 percentage points. According to Zhuo Chuang consulting, on April 29, the daily market price of rubber accelerator M in Hengshui market was 17000 yuan / ton, down 500 yuan / ton from April 22; The daily market price of accelerator NS was 24500 yuan / ton, down 750 yuan / ton from April 22; Accelerator TMTD daily
