Jilin Zhongyan Polymer Materials Co., Ltd. (Stock Code:688716.SH) on2023year9month20Successfully logged into the Sci-Tech Innovation Board on the same day. The company is a provider of polyether ether ketone (PEEKA high-tech enterprise engaged in R&D, production and sales. Frost & SullivanFrost & SullivanFrost & Sullivan, hereinafter referred to as 'Frost & Sullivan', hereby warmly congratulates the company on its successful listing.
Jilin Zhongyan Polymer Materials Co., Ltd. (hereinafter referred to as 'Zhongyan Shares') was established on2023year9month20The company was successfully listed on the stock market, with the number of shares issued being30,420,000share, issue price per share29.66yuan.
Investment highlights
After long-term independent research and development, the company has currently obtained21Domestic patents (including12The item is an invention patent),2International patents (all invention patents), multiple international certifications, and ownershipPEEKIntellectual property rights for large-scale industrial production. The companyPEEKNumerous innovations and breakthroughs have been made in the theory and technology of synthesis, purification, and composite enhancement. We have mastered the full-process industrialization of key raw material selection, key process control, key equipment design, key process optimization, and key indicator monitoring.PEEKproduction capacity;
The company, as the lead drafter, participatedPEEKDrafting of the first national standard. Currently, this standard 'Plastic Polyether Ether Ketone (PEEKResin》(GB/T 41873-2022) has been2023year5month1implemented daily. And the company leverages its ownPEEKThrough in-depth research and understanding, gradually cooperate with downstream application units and scientific research institutions for joint development and tackling key problems, exploring the development and application of new materials to meet major national needs;
The company follows in the footsteps of UK WEGS, Belgium SOLVAY and German Voestalch, becoming the world's No.4homePEEKEnterprises with an annual production capacity reaching the thousand-ton level.2021annual companyPEEKAnnual sales volume is about622.74tons, with a global market share of approximately8.07%ranked fourth globally; the company continues to achieve import substitution in the domestic market, and by sales volume, the company2021Domestic market share in the current year30.57%Has surpassed Wegs in the UK to become the company with the largest sales volume in the Chinese market;
The company's products are applied in various fields such as electronic information, transportation, and high-end manufacturing. This reflects the company's independent production capabilities.PEEKThe technical level of pure resin and its composite materials also has a good demonstrative effect for the company to further expand market sales in the future.
Frost & Sullivan has long been monitoring the new chemical materials industry in China, publishing a large number of research reports that are widely cited in the prospectuses of leading science and technology innovation board listed companies in the industry, helping clients accelerate their growth.
PEEKDefinition of materials
PEEKThe full name of the material is polyetheretherketone, a new type of special polymer material. Due to its excellent comprehensive properties, it can replace existing materials such as metals, ceramics, and traditional plastics in multiple fields.PEEKMaterials are wear-resistant, heat-resistant, corrosion-resistant, shock-absorbent, highly insulating, have a low density and are lightweight. They are new types of plastics with excellent performance, hence they are widely used downstream. For example, in the automotive industry, they are used for bearings, seals, enameled wires, brake pads; in the electronics industry, for antennas and tooling fixtures; in the construction machinery industry, for valves and pipelines; in the medical industry, for bone fixation, repair, and tissue support structures; as well as in the aerospace industry for high-voltage cables and flat tails.
chinaPEEKAnalysis of Material Market Scale
chinaPEEKOverall material consumption2017year707.35tons grew to2021year1,965.73tons, with an annual compound growth rate during this period of29.11%, and will be2022Year-end2027During the year, continue with16.82%The compound annual growth rate increased, in2027Annual achievement5,078.98Tons in scale.
chinaPEEKThe main driving factors for the overall growth in material consumption include:
（1Including the development of downstream sectors such as electronic information, automotive, industrial machinery and energy, medical devices, and aerospace, which drives the development ofPEEKMaterial demand is growing.
（2)PEEKThe strong corrosion resistance, heat resistance, rigidity, toughness, and other excellent properties of the material enable it to better meet the needs of different product categories in various downstream fields, thereby having a substitution effect on existing materials.
（3)PEEKMaterials show a trend of expanding application scope, diversifying application methods, and multi-faceted application scenarios in various downstream fields. For example, in the field of electronic information, with the emergence of smart wearable devices3CThe development of electronic products andPEEKMaterial properties are constantly being developed,PEEKmaterials in various3CThe application of electronic product components, electronic information production equipment, semiconductor production line equipment, etc., has been more widely expanded.
（4The various policies promulgated by the state forPEEKThe development of the material market has played a promoting role. For example, the '14th Five-Year Plan' for raw material industry development proposes to enhance the comprehensive competitiveness of special engineering plastics, while the '14th Five-Year Plan' for the development of chemical new materials industry guidelines propose to vigorously develop...PEEKHigh-performance engineering plastics such as materials.
In terms of consumption volume, in ChinaPEEKAmong the five downstream application areas of the material market, the electronic information industry is the largest downstream application market.2021year,PEEKThe consumption of materials in this field has reached633.66tons, accounting forPEEKOverall consumption of the materials industry32.24%The main reason isPEEKMaterials have been included, including mobile phone signal antennas, tooling fixtures,CMPMaintain multiple types such as rings, wafer carriers, etc.3CIt is widely used in electronic and semiconductor industry components.
Following the electronic information industry in proportion are the industrial machinery, energy, and automotive industries.2021year,PEEKThe consumption of materials in these two areas has reached456.35tons and422.65tons, accounting for23.22%and21.50%The above three areasPEEKConsumption of materials as a proportion of the totalPEEKMore than three-quarters of material consumption is driven by...
In addition, the medical device industry has beenPEEKThe sector with the highest annual compound growth rate in material consumption has a consumption volume as high as40.80%The annual compound growth rate, from2017year32.74tons grew to2021year128.70tons. The main reason isPEEKThe substitution process of materials for original ones in various fields such as craniotomy and dental surgery has accelerated over the past five years.
In the next six years, it is expected that the aerospace industry will bePEEKThe sector with the highest annual compound growth rate in material consumption is expected to see consumption grow at a rate as high as52.47%The annual compound growth rate, from2022year21.01tons grew to2027year173.08tons. The growth in consumption was mainly driven byPEEKThe use of materials is advancing in more commercial aircraft models, as well as in a wider range of aircraft parts.
chinaPEEKMaterial consumption (broken down by downstream sectors)
2017Year-end2027Year (estimated)
Source: Frost & Sullivan report
chinaPEEKThe overall sales volume of materials2017year6.20RMB billion growth to2021year12.86Yuan, with an annual compound growth rate during that period reaching20.23%, and is expected to be in2022Year-end2027During the year, continue with13.67%The compound annual growth rate increased, in2027Annual achievement28.38RMB 10 billion in scale. ChinaPEEKThe growth rate of the overall material sales volume was slightly lower than that of consumption volume, mainly due toPEEKMaterial prices show a downward trend, with the latter driven by domestic factorsPEEKMaterial manufacturers' production capacity is gradually increasing, and industry competition is intensifying.PEEKCost reductions due to advancements in material production technology are among the factors contributing to this.
chinaPEEKMaterial consumption (broken down by downstream sectors)
2017Year-end2027Year (estimated)
Source: Frost & Sullivan report
globalPEEKSituation of major manufacturers
with2021yearPEEKGlobal sales of materials, major regionsPEEKMaterial manufacturers include Wegs, Solvay, YingChuang, Sinosteel, and Pengfulong. Among them, Sinosteel Co., Ltd.2021In the world inPEEKMaterial sales volume exceeded600tons, with a global market share of8.07%left and right.
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Frost & Sullivan has extensive research experience in the chemical and materials industries, assisting well-known companies in successfully accessing the capital market. Successful listings include: Global New Materials （6616.HK), Yihai International8659.HK), Sanhe Refining0301.HK), Xingyu Holdings2346.HK), Xuyang Group1907.HK), Xinghe Holdings1891.HK), Shandong Gold (1787.HK), Xingye New Materials8073.HK), Dongguang Chemical Industry1702.HK), Zhongqi Group1932.HK), Meigu Technology8349.HK), Huajin International2738.HK), Filtre glass6865.HK), Caike Chemical1986.HK), Chang'an Renheng8139.HK).
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