The company is bibcock of chemical industry of synthetic resin and raw material. The company is synthetic resin and the industry bibcock that give birth to corporeal chemical industry, give priority to business Wu with chemical industry of synthetic resin and composite material, raw material and relevant product, company headquarters is located in Shandong Jinan. Model of gauge of produce and sale of colophony of company phenolic aldehyde, furan colophony ranks home the first, world front row. The company achieved sales revenue 2022 9.598 billion yuan, profit of net putting in a mother 's charge 703 million yuan. Accuse a partner to value company development, subscribe 1 billion yuan directional emission company stock, aggrandizement company is administered.

Colophony material and advantage of composite material business consolidate. Colophony of company phenolic aldehyde is produced can dimensions amounts to 650 thousand tons, furan colophony is produced can dimensions 120 thousand tons, all be on home the first, the company also is one of businesses that home pursues phenolic aldehyde colophony and furan colophony business the earliest. At present system of outstanding, product abounds company dimensions advantage, gain ability is stable, can offer “ to cast data industry client one-stop ” product program. Phenolic aldehyde colophony kind the product produces application to return cabin at airship of divine boat series.

Daqing biology uses a project integratedly character successful go into operation. The raw material of litter of our country aricultural is changed use relatively fragile, company with its corn core - furfural - branny alcohol - technology of catenary of furan colophony industry is a foundation, give out technology of green of fine of straw of unifinication of ” of law of “ emperor spring at succeeding 2019, the efficient depart that initiates sexual ground to realize cellulose, lignin, semi-cellulose and costly value are changed use. Succeeded in Daqing in May 2023 put into production 500 thousand tons / year raw material uses a project integratedly, this project hopeful is popularized in each district big range further.

Get together benzene aether is material of key of copperplate of high speed Fu, the company takes the lead in obtaining an industry to break through. Get together benzene aether has good interpose report function and relatively the integral performance of the balance, it is the crucial colophony material of copperplate of Fu of M6 grade high speed, framework of server of hopeful benefit from benefit from upgrades and the demand of AI server increases. Hopeful of PPO colophony consumption comes from current kiloton class promotion 5000 tons of class 2025. The company is the enterprise that home takes the lead in realizing PPO colophony industry to break through.

Investment proposal: The company is colophony and enterprise of composite material bibcock, phenolic aldehyde colophony and industry of dimensions of furan colophony produce and sale are banner; The company gives technology of fine of particular raw material through accumulating development for years, be in Daqing put into production 500 thousand tons / year straw uses a project integratedly, hopeful popularizes application further; The electric sub level that the company develops gets together the crucial material that benzene aether is M6 Fu copperplate, take the lead in obtaining a breakthrough in home, framework of server of hopeful benefit from benefit from upgrades and the demand of AI server increases. Predicting company 2023-2025 year profit of net putting in a mother 's charge is respectively 805 million, 1.16 billion, 1.436 billion, EPS is 1.03 yuan respectively, 1.48 yuan, 1.83 yuan, present price (on August 1, 2023) corresponding PE is 23x, 16x, 13x respectively, PE under the industry average level, have investment value, we value company future growing sex, enclothe first, give “ to recommend ” grade.

2025
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New York City