Key investment points:
This week, the prosperity index of Guohai chemical industry was 150.60, down 0.23 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.
Looking forward to the second half of the year, we believe that chemical industry will usher in two main lines of internal and external recovery. Due to the gradual transmission of high energy prices in Europe to chemical products, the rise of European chemical product prices, the widening gap between Chinese chemical product prices and European prices, and the decline of superimposed sea freight prices, we believe that the volume of Chinese chemical products exported to Europe will increase significantly. At the same time, China’s industries have gradually returned to work and production, the demand impacted in the early stage has begun to recover, and the industries related to domestic demand have also begun to recover. Superimposed on the decline in the price of energy products, the chemical industry is expected to usher in the double benefits of demand recovery and cost reduction, and downstream industries, new materials and integrated enterprises will benefit.
To focus on the recommendation of ‘s Wanhua Chemical Group Co.Ltd(600309) 493 , 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.), sulfur chemical (focus on Guangxi Yuegui Guangye Holdings Co.Ltd(000833) ), new materials ( Shandong Sinocera Functional Material Co.Ltd(300285) , Valiant Co.Ltd(002643) , Rayitek Hi-Tech Film Company Ltd.Shenzhen(688323) ) 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.
In the long term, we will focus on the long-term long-term and long-term focus on the still underrated leaders in various segments, such as 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 additive 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) , PI membrane leader Rayitek Hi-Tech Film Company Ltd.Shenzhen(688323) , 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) .
