1) plastic additive business
① General plastic PVC auxiliary business
The company is mainly engaged in the research, development, production and sales of ACR processing AIDS, ACR impact modifiers, MBS impact modifiers and MC impact modifiers. ACR processing AIDS and impact modifiers are mainly used in PVC pipes, PVC profiles, wood plastic (WPC) floors, stone plastic (SPC) floors, PVC wallboard, PVC transparent sheets, PVC foam boards and other products. The company's MBS impact modifier products are mainly used in the field of PVC transparent sheet products (medical packaging, consumer packaging and so on). ), PVC pipe products, magnetic card materials and other functional film materials; MC impact modifier products are widely used in wire and cable, rubber hose, adhesive tape, rubber sheet, PVC profile pipe modification and other fields. This product is mainly used for the processing and modification of the downstream products mentioned above, giving the products excellent processability, impact resistance and weather resistance.
② Auxiliary business of engineering plastics (PC/ABS/ASA)
Through years of experience in plastic additives industry and continuous scientific research and innovation, the company has successfully developed toughening modifiers (MBS GM series products), ABS high rubber powder and ASA high rubber powder suitable for PC/ABS alloy materials. In order to produce the above-mentioned products quickly, in batches and continuously, during the reporting period, the company carried out technical transformation on the existing MBS production line with an annual output of 30,000 tons in the original factory area to produce the above-mentioned products. Although the company is still in its infancy in this field, related products have passed the trial production line. Compared with general plastic additives, engineering plastic additives related products have higher technical barriers and higher added value.
Toughening modifier from A.PC/ABS (MBS GM series products). PC is often mixed with other engineering plastics such as ABS to make alloy materials, which make the products have the performance of both PC and ABS, and are widely used in automobile, household appliances, electronic and electrical, machinery and other fields. The company's products are mainly used to toughen and modify this material. Due to high technical barriers, China mainly imports Chinese yen from Japan, Dow from the United States and LG from South Korea. At present, the company's products have been sold in small batches, and it is actively exploring the market and docking with major domestic modified plastics manufacturers.
B, ABS high rubber powder, styrene, nitrile rubber, core-shell polymer. ABS resin was prepared with ABS high rubber powder and SAN resin as main raw materials. ABS resin is widely used in the fields of automobiles, electronic appliances, machinery and building materials because of its excellent mechanical properties, mechanical properties and thermal properties. China is a big producer of ABS resin. However, due to high technical requirements and low yield of ABS rubber powder, South Korea's Kumho and BASF are the main products in the world.
High rubber powder is a ternary polymer composed of acrylonitrile, styrene and acrylic rubber, which belongs to impact modified resin. ASA resin was prepared with ASA high rubber powder and SAN resin as main raw materials. ABS resin is widely used in automobile, electronics, electrical and construction fields because of its excellent weather resistance, mechanical properties and high temperature resistance. Due to the high technical threshold, the domestic ASA high rubber powder production capacity is relatively small, and the international products include Ineos, Saudi Basic Industries, Japan UMG, South Korea Kumho, South Korea LG and so on.
2) Biodegradable materials business
The business of biodegradable materials is under construction and research projects, and as of the disclosure date of this report, large-scale production and sales have not been realized. PBAT and PLA are one of the most widely used degradable materials. PBAT can be mixed with PLA or other degradable materials to make biodegradable products, such as shopping bags, express packaging bags, agricultural films, lunch boxes, tableware, straws and so on. At the beginning of 2020, the National Development and Reform Commission and the Ministry of Ecology and Environment jointly issued the Opinions on Further Strengthening the Control of Plastic Pollution. The main goal is to clarify the implementation of three nodes in 2020, 2022 and 2025 to ensure a significant reduction in the use of plastic products.
①PBAT: The PBAT project with an annual output of 60,000 tons under construction is currently in the commissioning stage, and the commissioning work is expected to be carried out in April and May 2022. After the project is completed and put into production, the company will add 60 thousand tons of PBAT products. PBAT products are greatly influenced by the price fluctuation of BDO (butanediol), one of the main raw materials, and the implementation of policies. In the future, with the continuous improvement of the industrial chain, the continuous promotion of national and local plastic ban policies, and the enhancement of people's awareness of environmental protection, I believe the industry will develop rapidly.
② PLA: PLA products are the research business of the company. In the second half of 20 19, the company started the technical development of one-step synthesis of polylactic acid, and achieved pilot success in 2020. In July, 20021year, the product was successfully tested in the company100t pilot line. PLA Company is also developing a two-step process (lactide process), which is currently in the pilot stage. Although the molecular weight and appearance of PLA produced by the company's one-step process are different from those produced by the two-step process, it has obvious cost advantages. After testing and modified film blowing test, the relevant performance indexes fully meet the requirements of downstream film bags and other products. However, food certification is still needed in the fields of lunch boxes, tableware, knives and forks, straws and so on. The company will implement the 10,000-ton scale project in due course, and there may be some technical uncertainty in the process of amplification. Investors are advised to pay attention to the above two risks.
(2) Industry status of the company
1) plastic additive
According to the Guidelines for Industry Classification of Listed Companies (Revised Edition 20 12) (AnnouncementNo. CSRC 20 123 1), the company's plastic additives business belongs to "C26 chemical raw materials and chemical products manufacturing industry in C manufacturing industry"; According to the National Economic Industry Classification (GB/T4754-20 17), the company's main business belongs to "C26 1 chemical reagent and additive manufacturing of C266 special chemical products in C manufacturing industry".
Plastic products are widely used in electronics, electrical appliances, agriculture, medicine, chemical industry and daily life because of their wide range of raw materials, easy processing and molding, low price and excellent physical and chemical properties. With the progress of technology, the varieties and specifications of plastic products are increasing day by day, and the application scope is expanding day by day. It has become the fourth largest industrial basic material after wood, steel and cement. The wide application of plastics can not be separated from the use of plastic additives to improve or improve the performance, so as to produce plastic products that meet various application requirements. Plastic additives determine the feasibility and application scope of plastics to a certain extent, and the quality and quality of additives directly determine the quality of plastic products.
①PVC auxiliaries: As one of the leading enterprises in PVC auxiliaries industry, the company has been deeply involved in this field for more than 20 years, with obvious competitive advantages. By the end of the reporting period, the company's comprehensive production capacity reached 6.5438+0.8 million tons, including 70,000 tons of ACR products, 70,000 tons of MBS products (including 202 1 and 20,000 tons added at the end of 65438+2) and 40,000 tons of MC products (including 40,000 tons of the second phase project of MC impact modifier).
Industry competition pattern: PVC additives industry belongs to the mature stage of development. The main domestic competitors of ACR products are Nikko Chemical and Shandong Lindong. The company's ACR products are mainly used for pipes/profiles, floor wallboard, plates, foam boards and other products. , the market share in the field of pipe/profile and floor wallboard is in the leading position in the industry; MBS products have high requirements on production technology and technology, and the main competitors are Japanese and Korean enterprises at present. MC products are substitutes for CPE, and the current production capacity is 40,000 tons/year, and there are many domestic manufacturers. In recent years, with the tightening of national safety and environmental protection supervision and the intensification of industry integration, the market share has been concentrated in the head enterprises. In the ACR field, the company insists on scientific and technological innovation, optimizes existing products, continuously enriches product categories, and adopts differentiated competition strategies to enhance product market share; In the field of MBS, benchmark foreign enterprises, strive to further improve product quality and performance, and seize the market share of foreign enterprises; In the field of MC products, make good use of the existing production capacity, give full play to its supporting role for other products, and improve the profitability of products.
② Engineering plastics additives: Through continuous scientific research and innovation, the company will expand from the field of PVC additives to the field of engineering plastics additives. In the fourth quarter of 2002/kloc-0, the company made use of the existing MBS production line to carry out technical transformation, and quickly acquired the production capacity of 30,000 tons of engineering plastic additives every year, and deeply cultivated the plastic additives industry. Compared with the company's PVC additives, the technical threshold of engineering plastic additives is relatively high and the added value is high. The main downstream areas of products are automobiles, household appliances, electronic appliances, machinery, construction and so on.
Industry competition pattern: The related products of engineering plastics additives developed by the company mainly include PC/ABS toughening modifier (MBS GM series products), ABS high rubber powder and ASA high rubber powder, and the domestic products are mainly imported. PC/ABS toughening modifiers are mainly imported from Japan Zhongyuan, USA Dow, South Korea LG, etc. The domestic market demand is about 30,000-50,000 tons. At present, this kind of product company has achieved small batch sales; ABS high rubber powder is mainly imported from South Korea, such as Jinhu and BASF, and the domestic market demand is about 300,000-400,000 tons. ASA high rubber powder is mainly produced by Ineos, Saudi Basic Industries, Japan UMG, South Korea Kumho and South Korea LG, and the domestic potential market demand is about 65,438+10,000 tons.
2) degradable polymer materials
According to the Guidelines for Industry Classification of Listed Companies (Revised Edition 20 12) (AnnouncementNo. CSRC 20 123 1), the company's main business belongs to "C26 chemical raw materials and chemical products manufacturing in C manufacturing industry"; According to the industry classification of national economy (GB/T4754-20 17), the company's main business belongs to "C265 1 primary plastic and synthetic resin manufacturing of C266 chemical raw materials and C265 synthetic materials in C manufacturing industry".
Developing degradable plastics to replace traditional plastic products is one of the effective ways to solve "white pollution", and PBAT/ PLA is one of the most widely used degradable materials at present. PBAT mixed with PLA and other degradable materials can be made into shopping bags, express packaging bags, agricultural films, lunch boxes, tableware, straws and so on. In the field of white pollution consumption, the state officially launched the "Plastic Ban Order". On June 5438+1October 65438+September, 2020, the Ministry of Environment issued the Opinions on Further Strengthening the Control of Plastic Pollution, and implemented the plastic ban measures step by step to ensure that the use of plastic products was greatly reduced; Various provinces and cities have also issued relevant supporting documents to carry out plastic ban related work in related fields and at corresponding time points. In line with the requirements of the national plastic ban policy, the company laid out in advance and intervened in the field of biodegradable materials. In March 2020, it was decided to invest in the PBAT project with an annual output of 60,000 tons of degradable polymer materials. At present, the project is nearing the end and is being debugged. Secondly, the biodegradable material PLA was developed, and the pilot test was successfully completed in July 20021. The expansion and continuous innovation of new products and new fields are conducive to the sustained and healthy development of the company.