2015 is an extraordinary year for the plastics industry. Whether it is for the whole industry or enterprises, there have been many changes in this year. On the occasion of the opening of the new year, Xiaobian will take you back to 2015. , inventory of the top ten "bad news" in the plastics industry in 2015 (domestic version).
NO.1 Shandong Runxing Chemical's first domestic adiponitrile explosion
At 20:50 on August 22, Shandong Runxing Chemical Technology Co., Ltd. 100,000-ton adiponitrile project exploded during the trial production, causing one death, two serious injuries and seven minor injuries.
Shandong Runxing Chemical Technology Co., Ltd. was established in 2012. It is a wholly-owned subsidiary of Shandong Runxing Investment Group Co., Ltd. It is a private joint-stock enterprise. It is a high-tech fine chemical enterprise integrating scientific research, production and sales. The company's self-developed adiponitrile products have obtained a number of national patents, filling the domestic gap and reaching the national advanced level. The explosion involved an annual output of 100,000 tons of HDI and 300,000 tons of adiponitrile. The first phase of adiponitrile production capacity is 100,000 tons/year. Construction was completed in July 2015 and trial production began in August.
On November 2, it was learned from the Shandong Safety Supervision Bureau that the Shandong Provincial Safety Supervision Bureau organized the safety according to the data error in the “Shenzhen Runxing Chemical Technology Co., Ltd. Adiponitrile Chemical Production Process Safety and Reliability Reportâ€. The process reliability demonstration review, the "Shandong Runxing Chemical Technology Co., Ltd. Adiponitrile production process safety and reliability of the arguments" will be revoked.
Comments: Adiponitrile is a nylon 66 raw material, and its synthesis technology is monopolized by foreign companies. The annual output of 100,000 tons of adiponitrile in Shandong Runxing Technology Explosion is the first set of adiponitrile production equipment in China. The explosion directly affects the localization process of China's nylon 66 raw material adiponitrile.
NO.2 enters the modified plastics industry blocked Xinlun Technology to terminate the acquisition of Watt new materials
On December 22, 2014, Xinlun Technology announced that the company intends to purchase Yinqiao Investment, Wuxian, Hezheng, Rongqiao Investment legally through the combination of issuing shares and paying cash. Holding a total of 100% equity of Walter New Materials, quickly cut into the polymer materials industry.
Founded in 2001, Walter New Materials is a company with a registered capital of 50 million yuan. It is a company specializing in R&D, production and sales of modified plastics. Product categories include modified plastics, modified engineering plastics, aramid, etc. The main application areas are home appliances, automobiles, aviation, military and other fields.
Xinlun Technology tried to enter the field of modified plastics through the acquisition of Walter New Materials. It is the new material materials industry that is in the stage of rapid development. The leading enterprises in the industry are developing rapidly, and the future development of the industry is huge.
However, Xinlun Technology was finally blocked in the acquisition of Walter New Materials. On February 12, 2015, Xinlun Technology announced that it was divided because of the core transaction terms of the transaction partner and the issue of shares and cash payment. And still failed to reach an agreement, it decided to terminate the acquisition of 100% equity of Walter New Materials.
Comments: I thought the acquisition was a matter of course, but the development of the situation was not as expected. The failure of this acquisition indicates that Xinlun Technology’s plan to enter the field of polymer materials has been temporarily blocked.
NO.3 Plit TLCP project has suffered losses in successive years
TLCP is a special engineering plastic because of its self-reinforcing effect, excellent vibration absorption performance, small thermal expansion coefficient, good heat resistance, natural flame retardancy, excellent chemical resistance, small molding shrinkage and many other good qualities. It is one of the best modified plastics at present.
In 2013, the Plitt 2000-ton TLCP project has passed the safety supervision and environmental assessment acceptance and officially put into production, marking the evolution of Plitt from the original 200 tons of intermittent to 2000 tons of semi-continuous in this project. The second phase of the 10,000-ton line is also in full swing. The project plans to invest 254 million yuan, eventually forming an annual production capacity of 13,000 tons of TLCP (pure). At that time, complete continuous production will be realized, and the entire production cost will be further reduced to further meet the domestic market demand.
Due to the huge gap in the domestic market, the industry has been very optimistic since the project of Plitt, and it has been named as “printing machineâ€. According to the feasibility report previously set by Plit, the project is expected to have strong profitability. The internal rate of return of the project is 69.26%, and the net profit margin of the capital is 109.95%. It is expected to increase by 50.48 million in 2011 and 2012 respectively. Yuan, 100.96 million yuan. But from the current Plett's financial report, the "printing machine" is not the case.
In 2013 and 2014, the company's financial report showed that Plitt suffered consecutive losses in the TLCP project, with a loss of 18 million last year and a loss of more than 7 million in the first half of this year. It is expected that it will be difficult to turn losses this year. In the domestic market, the demand is huge, and the industry is also optimistic, Plitt has lost money in this project for several years.
Comments: Although the TLCP market has great prospects, the raw materials of Plitt's TLCP project can also be purchased domestically. From the perspective of cost, the company's product competitiveness is not lower than other companies. However, the original downstream business of Plitt is concentrated in the automotive field, while the downstream of TLCP products are mostly in the electronics field. Therefore, although domestic demand accounts for about half of the world, but cars only account for a small part, so the digestion of production capacity and market development Plitt still needs time.
NO4. Blonde technology carbon fiber hard road losses continue to rise
Carbon fiber is a man-made fiber material with graphite-like structure. It is widely used as a high-end raw material in industry and life. Because carbon fiber composite material has the advantages of light weight, high specific strength, high design freedom and strong integration. Carbon fiber composite materials have gradually become the new favorite of automotive lightweight materials.
In September 2011, Blonde Technology decided to build an annual production of 2,000 tons of carbon fiber and 10,000 tons of carbon fiber composite material industrialization project with its own funds of no more than 300 million yuan. This shows that the company will build the country's largest carbon fiber composite material production base. And the implementation location is in the Kowloon Industrial Park of Guangzhou Development Zone.
On February 6, 2013, Guangzhou Carbon Fiber New Material Development Co., Ltd. was established as the main body of the company's carbon fiber project, with a registered capital of 61.65 million yuan. Blonde Technology said that in the future, it will increase the registered capital to no more than 300 million yuan.
In March 2013, the company's carbon fiber project was successfully produced, reaching an annual output of 200 tons of carbon fiber and 10,000 tons of carbon fiber composite materials. The combination of the two businesses is expected to increase the company's net profit by 100 million yuan.
The ideal is full, but the reality is very skinny. From the 2013 annual financial report of Blonde Technology, it can be found that in 2013, the net loss of blonde hair on carbon fiber was 412,100 yuan. In 2014, Blonde’s annual financial report also indicated that Guangzhou Blonde Carbon Fiber New Material Development Co., Ltd. continued to lose about 5.55 million yuan on this project. This time, the loss amount has increased by 10 times. In 2015, only half a year, the carbon fiber business of Blondes faced the situation of “one loss and then lossâ€. The 2015 semi-annual report of Blonde Technology showed that Guangzhou Blonde Carbon Fiber New Material Development Co., Ltd. had a loss of 9.19 million yuan, and the loss amount was blonde in the project. The history of the most.
Comments: In the face of such a huge loss, the blonde still has confidence and has withstood tremendous pressure. It is understood that the company has realized the industrial production of T300/T400 grade carbon fiber, and the T700 grade product is also in the small test. Obviously, the blonde has invested a lot of manpower and resources in the research and development of carbon fiber, but in the market development and downstream applications, it still needs to be deeply explored.
NO5. Xindamei stock market frustrated investors before and after the big gap
In August of this year, Alibaba Baidu's two major Internet giants suffered a setback in the US stock market. Similarly, Xinda Plastics, which was the first “eat the US stock market crabâ€, was also hit. Xinda did not feel the enthusiasm and treatment of American investors after listing. This is a big gap between the company's expectations for investors in the US when it became the first Chinese plastics material company to be listed in the US in 2009.
After the listing in the US, Xinda leveraged the leap in the domestic auto market, and its revenue and profits increased steadily. The company's production capacity has expanded from 70,000 tons in 2009 to the current 390,000 tons, and is expanding a production base of 300,000 tons. However, according to media reports, in the performance conference call earlier this month, Xinda executives expressed concern about the current extremely low stock price and felt frustrated. Because compared with the domestic peers listed in the domestic market, whether it is the price-earnings ratio, price-to-income ratio or any other indicators are not so satisfactory.
In the performance conference call in early August, Xinda CFO Zhang Dahe said that the current extremely low stock price not only caused the company's concern, but also brought frustration. His comment is in response to Morgan Stanley analyst Matthew Larson, who said that Xinda’s share price is “shockingly low†compared to its peers listed in China, whether it’s price-to-earnings ratio, price-to-income ratio or any other index.
Zhang Dahe said that the company has taken a number of measures to change this status, including the introduction of well-known institutional investors, the use of large service providers, etc., but did not work.
Comments: It is not uncommon for Chinese companies to be listed on the US market frequently. The main reason is that the United States does not know enough about China, or blindly devalues ​​China. It believes that China’s society is still in a situation of subsistence and grief. "China's development; or that China's development is a huge threat to the United States, and constantly suppressing the exclusion of China is a "good policy", which has led Chinese companies to be cold-eyed by US investors after listing in the United States.
NO6. Chairman and director of the Shun Wei Stock Personnel Earthquake resigned
On July 28, 2015, Guangdong Shunwei Precision Plastics Co., Ltd. announced that the board of directors received a written resignation report submitted by Chairman of the Board, Mr. Mai Renzhen, Director Li Dongcheng, Director He Yuhua, and Director Yang Guotian on July 27.
According to Shunwei Jingsu, in view of the company's future development needs, in order to better realize the professionalization of enterprise management, Mai Renxuan applied to resign from the company's chairman (legal representative), directors and special committees of the board of directors, and still serve as the company after resignation. Chairman of the Molecular Company; Li Dongcheng, He Yuhua, Yang Guotian applied for resignation from the company's directors and the special committee of the board of directors. After resigning, the three still serve as directors of the company's related molecular companies.
The resignation of the chairman of the board of directors takes effect from the date of the new chairman of the company, and the resignation of the three directors will take effect from the date of the resignation report delivered to the board of directors. The company will, in accordance with the relevant provisions of the "Company Law" and the "Articles of Association", fill in the directors as soon as possible in accordance with the relevant procedures, and complete the election of the new chairman and other related work.
The company's 2015 semi-annual report is scheduled to be disclosed on August 14, 2015. According to the 2015 First Quarterly Report, the 2015 semi-annual results are estimated. The company's net profit attributable to shareholders of listed companies from January to June 2015 is 1,323.32 million to 22,361,100 yuan, down 60% to 30%.
Founded in 1992, Shunwei Co., Ltd. is a Sino-foreign joint venture. It was successfully listed on the Shenzhen Stock Exchange on May 25, 2012. At present, the company's main products include plastic casings, PVC pipes, plastic molds and various modified engineering plastics. It has established strategic partnerships with well-known domestic and foreign brands such as Gree, Haier, Panasonic and Meikes. The company has established two business divisions, namely air-conditioning fan blades and engineering plastics, and established Wuhu Shunwei Precision Plastic Co., Ltd. and Zhongshan Scitech. Engineering Plastics Co., Ltd. and other dozens of molecular companies.
Comments: This is just fine, there is nothing to say...
NO7.3D printing frustrated Yin Hao technology 3D printing business responsible person resigned
On December 7, Guangdong Yinhao Technology Co., Ltd. announced that Zhang Wenwu, the company's deputy general manager, submitted the resignation report in writing. Zhang Wenwu, male, born in October 1982, bachelor degree. He graduated from Zhongnan University of Economics and Law in 2003. From October 2003 to April 2012, he served as a lawyer assistant, lawyer and partner of Beijing Kaiwen Law Firm. From May 2012 to August 2014, he was a partner of Beijing Guofeng Kevin Law Firm.
Zhang Wenwu drew his resignation as the deputy general manager of the company. At the same time, he has already requested to resign as an executive director of the 3D Magic Square and will no longer serve as the legal representative of the 3D Magic Square. After resigning, he will no longer hold any other positions in Yinhao Company.
In the third quarter announcement released in October, Yin Hao said that the company is actively building a 3D printing Internet platform and accelerating the research and development, production and sales of 3D printing products. During the reporting period, the company developed ABS, PLA wire and composite materials from small batch production and sales, achieving a comprehensive listing. In addition, through the improvement of the formulation process of PVA wire, PA powder and composite materials, the above products have been mass-produced from the pilot stage and fully marketed.
In July this year, Yin Hao announced that it planned to acquire a part of the equity of a 3D printing dental implant high-tech company in Israel. The estimated purchase amount does not exceed RMB 200 million, but the transaction intentions of the two parties are quite different, and the acquisition project is abandoned.
Since 2012, Jubilee Technology has been developing consumables for 3D printing, and it has been mass-produced last year. 3D printing is now the company's main business, accounting for a large part of R&D investment.
Comments: Although Yinhao Technology has made many achievements in the development of 3D printing engineering plastic consumables, the small scale of business makes it difficult to have a substantial impact on performance in the short term. Despite the prestigious 3D printing, there are still many difficulties and challenges. In the eyes of the industry, the 3D printing products of enterprises are similar in form and materials, and the process of many products is relatively rough. In addition, there is still a lot of work to be done in terms of education popularization and talent reserve.
NO8. In 2015, many new PP devices in China were delayed in production.
In 2015, the release of PP new capacity was significantly slowed down. Recently, Jiutai Energy Inner Mongolia Co., Ltd. stated that the plant production time will be postponed until 2016. After Zhuo Chuang Information further verified, Changzhou Fude, Donghua Energy Phase II, Zhongjing Petrochemical and other original plans The equipment that is expected to be put into production in 2015 will also be postponed until 2016. The 160,000 tons/year PP plant in Qinghai Salt Lake has not yet been handed over, and the specific production time is also uncertain. It is uncertain whether it will be put into operation in 2015.
At present, the PP devices that are determined to be put into production are Shaanxi Pucheng Clean Energy and Donghua Energy Yangzijiang Petrochemical. China Coal Mengda and Shenhua Shaanxi Yulin Branch may have a larger production capacity in 2015, but the production time is basically after October.
In 2014, the domestic PP new capacity was 3.4 million tons. By the end of 2014, the total PP capacity was 16.68 million tons. In 2015, according to the new capacity of PP, which was calculated at 1.4 million tons, the growth rate of PP capacity in 2015 slowed down to around 8%. Despite the large number of coal-to-olefins projects planned to be launched in China, the progress of coal-to-olefins is slowing down due to low oil prices. The delay or cancellation of coal-to-olefins projects may continue to exist in the next few years, and the actual production will be lower. expected.
Comments: Due to the large-scale rise of coal-to-olefins, PP faces the risk of overcapacity, and the delay in the commissioning of PP new equipment cannot be avoided. However, as the international oil price walks all the way, the raw material cost of PP new equipment may still maintain certain advantages.
NO9.2015 PC capacity jump development, the existing supply and demand balance is broken
The current lightweight car provides a broad market space for PCs. The consumption of domestic PCs is increasing year by year. In 2014, the apparent consumption exceeded 1.5 million tons. The compound annual growth rate since 2010 has been around 8%. However, domestic production capacity can not meet the strong demand. According to statistics, as of the end of 2014, there were 4 domestic producers with a production capacity of nearly 500,000 tons/year and a production capacity of about 300,000 tons.
Unlike the moderately steady growth in consumption, the increase in PC capacity is a leap. This year, the 100,000 tons/year polycarbonate (PC) project of Ningbo Zhejiang Gale and the 65,000 tons/year PC project of Luxi Chemical were completed one after another, which opened the curtain for the rapid growth of PC production capacity. The existing balance of supply and demand in the PC has been broken, and the good days of high prices will never return. It also increased the number of domestic PC manufacturers to six, and the production capacity increased by more than 30%.
In addition, under the impetus of domestic and foreign capital technology, a number of joint venture and cooperative PC projects are currently intensively started in China. Shanghai Costron, Fujian Global, Yantai Wanhua and other projects will be put into production in the next two years. According to statistics, by 2017, domestic production capacity will increase by nearly 1 million tons/year, reaching about 1.7 million tons/year, which is basically equal to consumption.
At present, China's PC supply mainly depends on imports. In recent years, the net import volume is basically 1.2 million tons. In 2014, the major importing countries (or regions) were South Korea (21.9%), Taiwan (17.6%) and Thailand (12.3%). Medium and low end materials.
In the future, domestic new equipment will be put into production intensively, and the output of domestically produced materials will increase greatly. The competition with imported materials will intensify. In particular, the new investment and construction equipment lacks mature technical support, and the low-end materials are mainly produced in the future, and the low-end materials in imported materials. Competition is expected to be more obvious. Before 2014, due to factors such as raw materials and demand, the overall operating rate of domestic production enterprises was not high, and only maintained 50% to 60%. Since 2015, due to low raw material operation and relatively high PC prices, the profit is good. The general starting rate is high, and the overall operating rate of domestic enterprises in the first seven months of this year is over 70%. In the future, with the new equipment being put into production, the supply and demand relationship of the entire market will gradually change. This year, the high-level situation of enterprises is difficult to reproduce.
Comment: Despite the development trend of automobile lightweighting, the proportion of plastics including PCs in automobiles is expanding. However, the domestic auto industry has been affected by the macroeconomic downturn and the obvious overcapacity of this year. The traditional auto market is After a sustained decline, it is expected that the demand for PCs in the automotive industry will also grow very limited.
NO10. US researchers say that Chinese salt found plastic particles
The American Science American said on October 29 that the researchers analyzed the common salt of 15 brands purchased from supermarkets across China. They found polyterephthalic acid in ordinary salt water bottles for the production of ordinary plastic water bottles. Ethylene glycol esters, as well as polyethylene, cellophane and many other plastics. Among them, sea salt is the most polluted by plastics. The researchers measured more than 1,200 plastic particles per pound (1 pound or 0.45 kg) of sea salt.
However, Scientific American also pointed out that Sheri Mason, who studies plastic pollution at the State University of New York at Freedonia, said that producers generally extract sea salt from seawater by evaporation, a process other than water. Everything else has been left behind, so it is very likely that sea salt is contaminated with plastic particles outside of China. He said: "Plastic has become such a ubiquitous pollutant, so I think it is not important that you find plastic pellets from Chinese supermarkets or sea salt on US supermarket shelves."
In addition, the research team also said that if a person's intake of sea salt reaches the maximum recommended by the World Health Organization, then this person will consume about 1000 plastic particles per year. This is still lower than the plastic particles that Europeans eat from shellfish. According to a report released last year, it is estimated that the average number of plastic particles in the shellfish consumed by Europeans per person per year is 11,000. Shellfish are contaminated by tiny marine pollutants.
Comments: Plastics have become such a ubiquitous pollutant. With the flow of seawater, plastic particles present in Chinese sea salt are also present in foreign sea salt, and the amount of plastic particles in Chinese salt intake is much lower than that. Europeans eat shellfish intake.
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