Original title: research and report New knowledge | High-end nylon production capacity is about to be releasedAsperspokerThe first quarter performance improved significantly, and the company's dividend yield increased significantly.
Since 2024, the fiber industry has gradually recovered, and the company has targeted high-end differentiated nylon products. In the past three years, production capacity will be concentrated and the dividend yield has also increased significantly.
A few days ago, Minsheng Securities team issued a research report on this company. The summary of the interface VIP is as follows.
[summary of research report]
1. Based on differentiated nylon chip production, the performance is growing rapidly.
Jushun (605166AsperspokerSH) mainly engaged in the research and development, production and sales of new nylon materials, the main products include fiber grade slicing, engineering plastic grade slicing, film slicing three categories, by the end of 2023, the company's production capacity has reached more than 400,000 tons. Since its inception, the company is located in high-end nylon 6 slices, with differentiation strategy and advantages, the company's product quality is higher than the general nylon 6 slicing enterprises, compared with high-end imported products also has a certain competitiveness.
2. Nylon 6:CPL breakthrough drives the development of the industry, but the market is still dominated by the middle and low end.
Domestic PA6 demand reaches more than 400 million tons in 2023, and the downstream is mainly pulled by fiber, engineering plastics and thin film; supply-side production capacity continues to expand, reaching 6.42 million tons in 2023, but the structure is still dominated by medium-and low-end products, and high-end products are still highly dependent on imports. The company locates high-end differentiated nylon 6 products, leading the technology industry, coupled with the active promotion of Hangzhou Phase II 124000-ton nylon 6 / nylon copolymer project (expected to be put into production in 24 years) and Tengzhou Phase II 180000-ton nylon 6 project (expected to be put into production in 26 years). The company's performance is expected to continue to improve after the release of production capacity.