慧正资讯，2026年1月22日，科思创宣布其位于广东珠海的全新热塑性聚氨酯（TPU）生产基地一期工程顺利投产。 2023年科思创宣布该投资计划，珠海生产基地共分三期建设，占地面积4.5万平方米，一期投产后年产能可达3万吨，将精准对接IT电子、汽车 制造、鞋材等核心行业对高性能TPU材料日益增长的需求。预计在2030年代全面建成后，最大年产能将达12万吨，届时将成为科思创全球规模 最大的TPU生产设施。 近年，全球TPU产能布局逐步呈现"外资深耕中国、内资向上突破"格局。外资企业加速将产能向亚太转移，科思创珠海基地分三期建设，一期 3万吨产能精准对接IT电子、新能源汽车等高端需求，2030年代全面建成后将成为其全球TPU业务枢纽。2024年巴斯夫湛江基地TPU装置投产， 打造全球最大单一TPU生产线，该生产线年产能达12万吨，主要服务于工业、消费品和交通等领域。 国内企业则通过产能扩张与技术攻坚实现突围。万华化学烟台产业园TPU产能将达21万吨，美瑞新材河南基地特种异氰酸酯项目落地，打破高 端原料进口依赖。头部企业加速产业链一体化布局，华峰化学虽并购计划受阻，但仍持续深耕TPU业务，道恩股份等中小企业则聚焦细分 ...

新型PCF工具的核心在于整合了全球2.5万余种原材料的二氧化碳数据。此外，该工具还纳入了巴斯夫 涂料全球30余个生产基地的独立能源流数据，从而能够精确追踪各类产品变体的排放量。该工具独特的 突破点还在于覆盖了二氧化碳之外的影响类别，为开发提升客户可持续性的定制化解决方案提供了关键 洞察。 除产品核算方案外，巴斯夫涂料还为汽车整车制造商提供了全球汽车表面处理解决方案生命周期评估工 具，并为汽车修理厂提供了EcoImpact评估工具，作为增值服务以支持客户。 巴斯夫称，公司现已建立起一套敏捷、实时、可审计且全球适用的二氧化碳数据基础，覆盖12万种销售 产品。所有产品相关的温室气体排放，从原材料采购、运输到生产过程中的能源消耗，均通过系统支持 实现一体化的统一计算。这为可追溯的二氧化碳核算奠定了基础，尤其适用于涂料这类配方复杂、颜色 呈现多样化的产品。这些二氧化碳数据为客户决策提供事实依据，助力其实现可持续发展目标。 中化新网讯 近日，巴斯夫涂料宣布，该公司推出了一项全新的数字解决方案——PCF工具，用于计算 其销售组合的产品碳足迹。该解决方案取代了巴斯夫涂料使用多年的内部开发应用程序，旨在为全球客 户提供可靠的二 ...

I focus on producing objective, data-driven research, mostly about small- to mid-cap companies, as these tend to be overlooked by many investors. From time to time, though, I also look at large-cap names, just to give a fuller sense of the broader equity markets.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in ...

【DT新材料】 获悉， 1月22日， 巴斯夫 发布2025全年初步数据。 2025全年销售额预计为597亿欧元 （2024年：614亿欧元，不包含已终止经营的涂料业 务）。尽管2025年销量略有增加，但汇率带来的负面影响，以及略有下滑的销售价格对销售额带来了压力。 2025年不计特殊项目的息税、折旧及摊销前收益预计为66亿欧元，低于巴斯夫在 2025年10月提出的预测范围（67亿欧元至71亿欧元之间）。2024年不计特殊 项目的息税、折旧及摊销前收益为72亿欧元（不包含已终止经营的涂料业务）。相较去年有所下降主要由于利润减少，及汇率带来的负面影响。 2025年自由现金流预计为13亿欧元（2024年：7亿欧元），显著高于分析师平均预期（Vara：6亿欧元），也高于巴斯夫此前提出的预测范围（4亿欧元至8亿欧 元之间）。 巴斯夫集团2025年的息税前收益（EBIT）预计为16亿欧元，低于分析师对2025年的预期（Vara：22亿欧元），也低于去年水平（2024 年：18亿欧元，不包含 已终止经营的涂料业务）。息税前收益所包含的重组费用显著高于去年。公司宣布的重组措施推进进度快于原计划。特殊项目下的费用部分被特殊项目 ...

Core Viewpoint - The chemical group experienced a decline in shares following a prerelease of earnings that did not meet both its guidance and consensus expectations [1] Group 1 - The company's earnings fell short of its own guidance [1] - The earnings also failed to meet consensus expectations from analysts [1]

Core Viewpoint - The article discusses the advancements and collaborations in the solid-state battery industry, highlighting key players and their strategic partnerships aimed at enhancing battery technology and materials for electric vehicles and other applications [1][2][3][4][5]. Group 1: Industry Developments - Solid-state batteries are recognized for their high safety and energy density, marking a significant development direction for electric vehicle power batteries [1]. - The Ministry of Industry and Information Technology of China has emphasized accelerating breakthroughs in solid-state battery technologies, indicating a shift from pure R&D to engineering validation [1]. - Major chemical companies are actively engaging in the solid-state battery sector, with BASF and Sanyou Technology announcing milestone collaborations to enhance their strategic partnership [2]. Group 2: Key Collaborations - BASF has partnered with Sanyou Technology to deliver high-quality samples for heavy-duty vehicle projects and to collaborate on new product cell validation in the 3C safety certification field [2]. - Covestro is working with Fujian Blue Ocean Black Stone New Materials Technology to develop polyurethane binders for silicon-carbon anodes, addressing volume expansion issues during charge and discharge cycles [3]. - SES Holdings has formed a new company, Argylium, with Axens Group to focus on the commercialization of advanced materials for solid-state batteries, particularly targeting the next generation of sulfide solid electrolytes [4]. Group 3: Material Innovations - Companies like Dow Chemical and LG Chem are developing low-cost sulfide electrolytes and uniform control technologies for solid-state electrolytes, respectively, with LG Chem planning to launch a vehicle solid-state battery with an energy density exceeding 500 Wh/kg by 2027 [5]. - Other firms, such as Tianqi Materials and Huizhou Enjie, are also advancing their production capabilities for lithium sulfide and solid-state electrolytes, with significant production lines already established [5]. - The article notes that various materials, including polymer electrolytes and silicon-based anode materials, present promising opportunities for chemical companies in the solid-state battery landscape [6].

Core Insights - BASF SE (BASFY) will participate in PlastIndia 2026 from February 5-10 in New Delhi, showcasing a range of sustainable performance materials and innovative applications [1][8] - The event will highlight BASF's commitment to sustainability and circularity through the plastics journey across the 'Make,' 'Use,' and 'Recycle' phases [1][3] Group 1: Event Participation and Themes - BASF's participation in PlastIndia 2026 aligns with the theme "Bharat Next," which represents a self-reliant India, reflecting the company's ambition to be the preferred chemical partner [3] - The showcase will include products and technologies from BASF's Creation Centers, Ultrasim Simulation Technology, and applications in various sectors such as automotive, medical, and consumer goods [4][8] Group 2: Product Innovations and Capacity Expansion - BASF has increased its Ultramid PA capacity and introduced Ultradur FR and HR grades produced in India, enhancing its polymer offerings [2][8] - The display will feature a fully TPU-based concept shoe, a chess set made from upcycled engineering plastics, and mobile spectroscopy solutions, emphasizing innovation in recycling and sustainable materials [4] Group 3: Stock Performance - BASFY stock has increased by 8.6% over the past year, contrasting with a 21.9% decline in the industry [5]

Group 1 - Boca International Limited, a company specializing in phase change materials (PCM) for thermal energy storage, successfully completed its IPO on the AMEX at an issue price of $4 per share, selling 2.5 million shares and registering the resale of 1.8 million existing shares [1] - Founded in 1992 and headquartered in Hong Kong, Boca International is one of the few companies globally focused on the production and application of PCM technology, developing practical and efficient thermal energy storage solutions [3] - The company has developed over 20 types of PCM, each with unique phase change temperatures and thermal storage capacities, suitable for a wide temperature range from -86°C to +600°C, providing customized thermal storage panel products for HVAC and refrigeration sectors [3] Group 2 - Financial data indicates that Boca International's revenue for the fiscal year ending March 31, 2025, reached approximately HKD 16.6 million, a significant increase of HKD 11.3 million or 216.53% compared to HKD 5.2 million in the previous fiscal year, driven by a notable rise in consulting and construction-related business revenues [4] - The company's losses narrowed from HKD 7.9 million to HKD 6 million, a decrease of 24.49%, reflecting a positive correlation with the increase in gross profit [4] - The PCM industry has seen significant achievements from various companies globally, with major international players including Henkel, BASF, Cryopak, Dow Chemical, Honeywell, and others, while domestic players include Guangzhou Meiya Technology, Jiangxi Zero Carbon Future, and several others [4][5]

Group 1 - The city of Zhanjiang has implemented 2,367 major provincial and municipal projects over the past five years, with a total investment of 440 billion yuan, ranking first in the Guangdong East-West North region [1] - By 2025, Zhanjiang's industrial added value is expected to exceed 100 billion yuan [1] - During the "14th Five-Year Plan" period, Zhanjiang has established a leading industrial system focused on "four greens and one blue," including green steel, green petrochemicals, green energy, green food, and blue ocean economy [1] Group 2 - The green steel industry, led by Baosteel Zhanjiang Iron and Steel Company, has an annual output value exceeding 60 billion yuan, making it the largest steel production base in Guangdong Province [2] - The green petrochemical industry has developed a complete industrial chain including crude oil extraction, refining, and both basic and fine chemicals, with an annual output value exceeding 120 billion yuan, positioning it among the top five petrochemical bases in the province [2]

Core Insights - BASF SE is adapting its testing methods for eMobility applications to meet the increasing demands for ageing resistance in plastics, shifting from air-heat tests to hydrolysis storage to evaluate ageing in water-glycol mixtures [1][7] - The service life requirements for eMobility applications have significantly increased, with operating temperatures needing to be maintained for 45,000-55,000 hours compared to the 5,000 hours typical for conventional combustion engine components [2] - BASF's Ultramid polyamide material has shown promising results, with properties extrapolated to over 100,000 hours after five years of testing, meeting automotive performance and safety requirements [4][7] Company Performance - BASFY stock has increased by 13.9% over the past year, contrasting with a 21.2% decline in the industry [4] - BASFY currently holds a Zacks Rank of 3 (Hold), indicating a neutral outlook [6] - In comparison, other companies in the Basic Materials sector, such as Agnico Eagle Mines Limited and Kinross Gold Corporation, have higher Zacks Ranks of 1 (Strong Buy) [6][8]