山西证券研究早观点-20250704

Core Insights - The report highlights the significant increase in demand for sustainable aviation fuel (SAF) due to the European Union's proposed subsidies, which could enhance SAF procurement by airlines [5][6] - The establishment of a new subsidiary by the company in Shandong is aimed at improving market access and service efficiency, indicating a strategic expansion in response to regional demand [7] Market Performance - The new materials sector saw a weekly increase of 5.12%, with specific sub-sectors like battery chemicals rising by 9.13% and semiconductor materials by 4.09% [5] - The report provides a detailed weekly price tracking of various chemical raw materials, indicating stability in prices for several products while noting slight declines in vitamins [5] Investment Recommendations - The report suggests focusing on companies like Jiaao Environmental Protection and Zhuoyue New Energy, which are positioned to benefit from the rising SAF demand and have ongoing projects in biofuels [5][6] - The company is projected to achieve significant revenue growth from 2025 to 2027, with expected revenues of 10.55 billion, 12.85 billion, and 15.39 billion yuan, reflecting a compound annual growth rate of approximately 21.8% [7]