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Recently, the price of dimethyl carbonate has continued to rebound. According to the data of Longzhong information, the price of industrial dimethyl carbonate in East China rose to 9650 yuan / ton last week, up 15% compared with the same period last month. We believe that under the protection of the policy, the improvement of the penetration rate of medium Shanxi Guoxin Energy Corporation Limited(600617) vehicles and the vigorous development of the energy storage market will support the growth of lithium battery demand, thus promoting the continued prosperity of the electrolyte and solvent market.
The industry supply is relatively concentrated. The global production area of electrolyte solvent is mainly concentrated in China. In the global electrolyte solvent market, Haike Xinyuan market and Shandong Shida Shenghua Chemical Group Company Limite(603026) market account for more than 55%, showing a duopoly competition pattern. With the expansion of leading enterprises and the acceleration of global layout, the industry concentration of electrolyte solvent market is expected to be further improved in the future.
The new energy wave promotes the demand for good: the downstream of lithium battery electrolyte solvent is lithium battery electrolyte, which is an important part of lithium battery. According to the application field, lithium battery is mainly divided into three categories: power battery, consumer battery and energy storage battery. GGII predicts that the output of Shanxi Guoxin Energy Corporation Limited(600617) vehicles is expected to reach 6 million in 2022, which will drive the shipment of power batteries to exceed 450 GWH. With the rapid growth of Shanxi Guoxin Energy Corporation Limited(600617) automobile market, the shipment of supporting power batteries will also continue to grow, and electrolyte solvent, as an important component material of new energy power batteries, will also continue to grow.
Investment strategy: under the escort of the policy, the improvement of Shanxi Guoxin Energy Corporation Limited(600617) vehicle penetration rate and the vigorous development of energy storage market will support the growth of lithium battery demand, so as to promote the continuous prosperity of electrolyte and solvent market. With the expansion of leading enterprises and the acceleration of global layout, the industry concentration of China’s electrolyte market is expected to be further improved in the future. It is suggested to pay attention to the leaders in Guangzhou Tinci Materials Technology Co.Ltd(002709) , Shandong Shida Shenghua Chemical Group Company Limite(603026) and other subdivided fields with scale advantages and customer advantages.
Market review:
Sector performance: this week, CITIC basic chemical sector rose 1.03%, and the composition of Shanghai Composite Index fell 0.04%. Compared with Shanghai Composite Index in the same period, the basic chemical sector led by 1.07 percentage points. In terms of sub sectors, the basic chemical sub sector mainly rose this week, with soda ash, polyester, inorganic salts, silicone, pesticides and other sub sectors leading the rise; Carbon fiber, potassium fertilizer, spandex, cotton fiber, titanium dioxide and other sub sectors led the decline
Rise and fall of individual stocks: the basic chemical sector led the rise this week, including Aba Chemicals Corporation(300261) , Xilong Scientific Co.Ltd(002584) , Phichem Corporation(300398) , Shandongsino-Agriunitedbiotechnologyco.Ltd(003042) ; The leading stocks include st Chengxing, Shenzhen Sunrise New Energy Co.Ltd(002256) , Changjiang materials, Yanan Bicon Pharmaceutical Listed Company(002411) , Kbc Corporation Ltd(688598) .
Risk tips: the risk of fluctuations in international oil prices, the risk of repeated global epidemics, etc.
