Anxin securities released a research report on January 17, saying that it maintained the buy rating of Wanhua Chemical Group Co.Ltd(600309) (600309.sh, latest price: 95.53 yuan). The reasons for rating mainly include: 1) the performance forecast of the company in 2021 is in line with expectations, and the high prosperity of overseas MDI market under the new production capacity and the simultaneous rise in the volume and price of petrochemical, fine chemicals and other products are the main reasons for the significant growth of performance; 2) The capacity expansion of isocyanate project continues to consolidate its leading position in the industry; 3) In the medium and long term, the demand for building energy conservation + the restriction on external thermal insulation of exterior walls + the new mandatory standard for building energy conservation of the Ministry of housing and urban rural development is expected to drive the continuous growth of the demand for polyurethane thermal insulation materials in China downstream of MDI; 4) The rapid development of photovoltaic industry brings huge incremental demand for Poe, and Wanhua is optimistic about localization and substitution. Risk tip: the project progress is less than expected, the product price fluctuates sharply, and the downstream demand is less than expected.
AI comments: Wanhua Chemical Group Co.Ltd(600309) has received attention from 4 research reports of securities companies in recent month and bought 4.
