DT新材料致力于科技成果转移转化。SynBioCon大会聚焦产业生态发展与科技成果转移转化，已完成1000+次科研院所和初创项目对接。本届大会同 期将继续举办 特色活动 「合成生物制造创新科技成果展示与对接 」 ， 收集并 展示100个0~100的合成生物制造创新科技成果 ， 以 促进行业高 效科技成果与转化。 SynBioCon大会持续发布科技成果。本期介绍项目如下： SynBioCon 大会 | 致力于科技成果转化 第四届合成生物与绿色生物制造大会 (简称：SynBioCon 2025) 将 于 8月20-22日 在 浙江·宁波 举办。 大会由DT新材料举办；北京大学宁波海洋药 物研究院、酶赛生物共同协办； 中国生物工程学会生物基材料专业委员会、浙江省合成生物产业技术联盟、 上海市未来产业生物制造专委会、 上海 市宝山国发合成生物学应用转化研究院、 广州合成生物产学研技术创新联盟 等支持。 成果名称 生物基材料单体与材料生物制造平台 项目方 重庆大学 成果简介 尼 龙、 PBS两种大宗基础材料，广泛用于汽车飞机零部件、国防工业、电子电气配件、输油管道、农业、服饰等，但两种材料的重要单体"己二 胺"、"丁二 ...

Investment Rating - The report indicates a growth-oriented investment style, suggesting a focus on companies with marginal changes and new growth curves [2][3]. Core Views - The chemical market experienced an upward trend this week, with the Shenwan Chemical Index rising by 0.8%, underperforming the CSI 300 Index by 0.74% [2][11]. - Key events impacting the chemical industry include the resolution of the ethane export issue between the US and China, the lifting of force majeure on BASF's animal nutrition product, and the successful production of new materials in China [2][3][4]. - The report highlights the high valuation levels in the chemical sector, with a historical PB percentile of 20% and a PE percentile of 71% [2]. Summary by Sections Market Review - Brent crude futures settled at an average price of $68.19 per barrel, down 0.25% week-on-week, while WTI futures increased by 0.9% to $66.3 per barrel [11]. - The basic chemical sector underperformed the index, with a decline of 0.74%, while the petrochemical sector fell by 1.03% [11]. Major Chemical Products Price Changes - The report provides detailed price changes for various chemical products, indicating fluctuations in market prices and demand dynamics [12][29]. Key Events - The US Department of Commerce's notification ended the ethane export turmoil, benefiting companies like Wanhua Chemical and Satellite Chemical [3]. - BASF's lifting of force majeure on Lutavit® A 1000 NXT is a significant development for the animal nutrition business [4]. - The successful production of new materials, such as AkzoNobel's 5000 tons of COC and Shanghai Jieda's 120,000 tons/year hexamethylenediamine, marks a positive trend in domestic new materials [2][3]. - SABIC's permanent shutdown of its olefins cracker in the UK, with an annual capacity of 865,000 tons of ethylene and 415,000 tons of propylene, indicates a continued exit of overseas capacity [4]. Industry Insights - The report emphasizes a growth-oriented investment approach, focusing on companies showing marginal changes and potential new growth trajectories [2][25]. - The chemical sector is currently experiencing high valuation levels, with a historical PB percentile of 20% and a PE percentile of 71% [2][12].

Core Viewpoint - The successful commissioning of the 120,000 tons/year hexamethylenediamine unit at Shanghai Jieda Nylon Materials Co., Ltd. marks a significant milestone in establishing a comprehensive nylon integration industrial base in Shanghai Chemical Industry Park, centered around Invista's 400,000 tons/year adiponitrile capacity [2][3]. Group 1: Project Overview - The Shanghai Jieda Nylon integration project includes a production capacity of 120,000 tons/year of hexamethylenediamine, 120,000 tons/year of Nylon 66, and additional capacities for Nylon 610/612 resin slices and modified resin slices [4]. - The total investment for the project is 1.5 billion yuan, with an expected annual sales revenue of 4.5 billion yuan [4]. Group 2: Technology and Partnerships - The hexamethylenediamine unit utilizes an optimized and upgraded low-pressure hydrogenation process for adiponitrile, recognized as the most advanced in China [5]. - The Nylon 66 polymerization unit employs Invista's proprietary Nylon 66 polymerization technology, which is considered the most advanced internationally [6]. - In mid-2023, Shanghai Jieda signed a tripartite cooperation agreement for the technology licensing of the 120,000 tons/year hexamethylenediamine project with Henan Pingmei Shenma Nylon Engineering Technology Co., Ltd. and Hualu Engineering Technology Co., Ltd. [5]. Group 3: Future Developments - A groundbreaking ceremony for the second phase of the nylon integration project was held on January 9, 2023, with plans for a third phase to develop high-temperature nylon and civilian spinning nylon polymerization capacity, along with corresponding engineering plastic capacity [7].

Summary of China Chemical's Conference Call Company Overview - **Company**: China Chemical - **Industry**: Chemical Engineering Key Points Contract and Revenue Goals - The company aims to sign new contracts worth **370 billion** yuan in 2025, with a revenue target of **196 billion** yuan and a profit target of **7.5 billion** or **7.6 billion** yuan, all showing growth compared to the previous year [2][3][4] Current Performance and Market Outlook - As of May 2025, the new contract amount reached **150.8 billion** yuan, a nearly **10%** decrease year-on-year, falling short of the **185 billion** yuan target for the first half of the year [3][4] - The company expects a rebound in the second half, driven by the release of contracts related to the Xinjiang coal chemical project and growth in overseas orders [2][3] Xinjiang Coal Chemical Project - The Xinjiang coal chemical project is projected to have a contract value of approximately **40 billion** yuan in 2025, significantly higher than the **22 billion** yuan in 2024 [2][19] - The overall investment in Xinjiang's coal chemical sector is expected to reach around **500 billion** yuan over the next **5-6 years** [19] Production and Technology Updates - The Jiuri New Materials project has upgraded to a second-generation catalyst, achieving a load of **80%-85%** as of mid-June 2025, with plans to reach full production in Q2 [2][5][6] - The company has no immediate plans for third or fourth-generation technology upgrades for adiponitrile but is exploring better processes [8] Product Focus and Market Strategy - The company is actively promoting the domestic substitution of nylon 66 and strengthening partnerships with leading industry clients such as Shenyang Chemical and Wanhua Chemical [10][12] - Current product offerings include adiponitrile, hexamethylenediamine, and nylon 66, with a focus on maintaining competitive pricing strategies [11][15] Overseas Market Expansion - The company is deepening its presence in the "Belt and Road" markets, particularly in South Asia and ASEAN, with an expected overseas market expansion scale of **140 billion** yuan in 2025, up from over **120 billion** yuan last year [2][4][16] - Key target regions include Indonesia, Vietnam, Malaysia, and the Middle East, with a focus on oil and gas and chemical market collaborations [17][18] Strategic Initiatives - The company has adopted a "135" strategy aimed at high-quality development through technological innovation and internal management improvements [3][25] - There are no current plans for a second phase of the equity incentive program due to regulatory constraints and high performance expectations [24] Financial Management and Future Outlook - The company is facing increased pressure on cash flow and project returns but is implementing measures to enhance contract selection and collection efforts [25][26] - Future dividend policies are under consideration, with potential improvements suggested based on recent trends among state-owned enterprises [26] Conclusion - China Chemical is navigating a challenging market environment with strategic initiatives aimed at growth in both domestic and international markets, while focusing on technological advancements and operational efficiency to meet its ambitious targets for 2025 [2][3][4][25]

Group 1 - The core point of the article is that Ascend Performance Materials plans to close its hexamethylenediamine production facility in Lianyungang, China, within the next few months due to market changes and ongoing trade disputes [1] - The Lianyungang facility, which was established less than a year ago, represents Ascend's first overseas chemical production base with a total investment of approximately 4.2 billion yuan [1] - The facility had an annual production capacity of 200,000 tons of hexamethylenediamine, accounting for 15% of China's total capacity for this chemical [2] Group 2 - Ascend's decision to close the Lianyungang plant follows a comprehensive assessment of its long-term viability in a changing market and regulatory environment [1] - The closure is expected to exacerbate the short-term supply tightness of hexamethylenediamine in the market, potentially increasing costs for downstream product manufacturers and leading to price adjustments and market restructuring [2] - Other operations of Ascend in China, such as the Suzhou production base, will continue to operate as usual [1]

Core Viewpoint - The global chemical industry is undergoing significant changes due to various factors such as industry cycles, economic environment, and market competition, leading to frequent business adjustments and plant closures among major chemical companies this year [1] Group 1: Company Actions - Ascend Performance Materials announced the orderly closure of its hexamethylenediamine (HMDA) production facility in Lianyungang, China, after a comprehensive assessment of the plant's long-term viability in a changing market and regulatory environment [2] - The Lianyungang plant was Ascend's first chemical production base outside the U.S. and its largest investment project outside the U.S., with an initial investment of approximately 1.29 billion RMB and a planned annual production capacity of 200,000 tons of HMDA [2] - Following the closure, Ascend's core production capacity will revert to its U.S. facilities [2] Group 2: Market Dynamics - Ascend is the largest integrated nylon 66 producer globally, with production bases in North America, Europe, and Asia, serving various sectors including automotive, electronics, and consumer goods [3] - The global HMDA production capacity is primarily concentrated among a few companies, including Invista (over 30% market share), BASF (largest in Europe), and Ascend (second largest in the U.S.) [4] - While Ascend is reducing its production capacity, BASF and Invista are expanding their operations [5] Group 3: Competitor Developments - BASF announced the commissioning of a new world-class HMDA plant in Chalampé, France, with an annual capacity of 260,000 tons, marking a key step in its strategic expansion in the nylon 66 business [6] - Invista has decided to keep its HMDA production facilities operational despite previous plans to close them and is also restarting production at its Canadian facility in 2024 [6] - In China, several companies, including Chongqing Huafeng and Shennong Group, are rapidly expanding their HMDA production, with a total capacity reaching 1.265 million tons [7] Group 4: Technological Advancements - The China Pingmei Shenma Group has launched a new 100,000 tons/year HMDA production facility, utilizing a direct synthesis method that bypasses traditional processes [8] - The global chemical market is experiencing unprecedented changes, driven by asset optimization, debt reduction, and shifts in market dynamics [10]

Core Viewpoint - Shanghai Jieda Chemical Co., Ltd. is advancing its nylon industry chain through a resource utilization project, enhancing the value and sustainability of the nylon production process [1][4]. Group 1: Project Overview - The second phase of the nylon industry chain resource utilization project was signed on June 4, focusing on integrating advanced technologies to create a competitive nylon production base in Shanghai [1]. - The first phase of the nylon 66 integration project was completed with a total investment of 1.5 billion yuan, covering an area of 206 acres and centered around a 400,000 tons/year caprolactam production capacity [2]. Group 2: Technological Advancements - The project utilizes the most advanced domestic low-pressure caprolactam production technology and the internationally recognized nylon 66 polymerization technology, both of which have independent intellectual property rights [3]. - The second phase plans to invest 710 million yuan to focus on the resource utilization of by-products, aiming to reduce emissions and increase product value [4]. Group 3: Future Developments - The third phase will build on the products from the first and second phases to develop high-temperature nylon and engineering plastics, further expanding the production capabilities [4].

Core Viewpoint - The article discusses recent developments in the nylon industry, highlighting both opportunities and challenges, particularly focusing on the production of key raw materials like hexamethylenediamine (HMD) and the impact of domestic production capabilities in China [1]. Group 1: Industry Developments - BASF has successfully launched a new world-class HMD facility in Chalampé, France, increasing its production capacity to 260,000 tons [2]. - BASF's acquisition of a 49% stake in the joint venture with Dommer Chemical in Alsachimie allows it to fully own a facility that produces key precursors for polyamide, including adipic acid and HMD [2][3]. - The main production route for HMD is the adiponitrile method, with major players like Invista, Ascend, and BASF dominating the global market [4]. Group 2: Domestic Production in China - China has made significant breakthroughs in domestic adiponitrile technology, with seven companies now capable of producing a total capacity of 1.265 million tons, and an expected additional capacity of 2.58 million tons in the next five years [5]. - China Pingmei Shenma Group has launched a 100,000 tons/year HMD facility, marking a significant reduction in reliance on imported raw materials [6]. Group 3: Market Dynamics - The price of HMD has been affected by domestic production, tariff policies, and overcapacity, leading to a divergence where international prices rise while domestic prices fall [7]. - The low operating rate of PA66 will influence HMD prices, and the potential for PA66 price decreases to stimulate exports and growth in high-end applications remains uncertain [8].

【DT新材料】 获悉，6月6日， 中国平煤神马集团 10万吨/年艾斯安装置投产暨20万吨/年艾斯安项目启动仪式在尼龙科技公司举行， 标志着我国尼龙 66关键原材料己二腈长期依赖进口的局面实现重大突破。 其中， 中国平煤神马集团 尼龙科技公司 10万吨/年艾斯安项目一期工程建设规模为5万吨/年氨基己腈， 技术为 通 过己内酰胺氨化脱水直接生产氨基 己腈 ，然后加氢得到己二胺，绕过传统己二腈工艺，降低对进口原料的依赖。 该项目投资额为50294.71万。此前，平煤神马集团已先期建设了2万吨/年艾斯安项目（即 2万吨/年 氨基己腈 ），并于2023年第三季度投料试车，项目 投资额约为2.7亿元。 中国平煤神马集团 尼龙科技公司 是平煤神马集团旗下专注于尼龙化工领域的核心企业，成立于2014年2月，注册资本68.8亿元，总部位于河南省平顶 山市尼龙新材料产业集聚区，承担煤基尼龙产业链关键原料的研发与生产。公司 目标在 " 十 四五 " 期间 实现 40万吨/年己内 酰胺 、 15万吨/年己二 酸、45万吨尼龙 6切片( 含永通公司 ）一体化产业布局，在 "十五五"前期实现 60万吨/年己内酰胺产能。 尼龙科技公司 旗 ...

Summary of the Conference Call on Hexamethylenediamine (HMD) Project Company and Industry Overview - The conference call discusses the hexamethylenediamine (HMD) project by China Chemical, focusing on production challenges, cost structures, and market dynamics related to the HMD industry [1][2][3]. Key Points and Arguments Production Challenges - China Chemical's HMD project faced initial production issues due to backend separation problems, leading to a halt in production after three months due to catalyst deactivation [2][5]. - The current operational load of the HMD project is maintained at 40%-50% to avoid further failures, primarily due to uncertainties surrounding the performance of the second-generation catalyst [4][5]. Cost Structure - The cost of producing one ton of HMD is approximately 15,000 RMB, which includes raw material costs of about 10,000 RMB and additional production costs [7][30]. - China Chemical's production costs are higher than those of competitors like Nvidia, which uses a fifth-generation catalyst with a longer active cycle, resulting in a cost difference of about 4,000 RMB per ton [8][9]. Future Production Plans - China Chemical aims to increase the operational load to over 80% by replacing catalysts and optimizing processes, which could reduce the cost difference with Nvidia to around 1,000 RMB per ton [10][18]. - The projected production for 2025 is estimated to be between 120,000 to 130,000 tons, with a gross profit of approximately 500 million RMB and a net profit of 200-300 million RMB [3][14]. Market Demand and Pricing - The demand for HMD is currently slow, with high purity requirements from downstream markets limiting large-scale applications [5][6]. - The market price for HMD has fluctuated, currently ranging between 20,500 to 21,000 RMB per ton, while production costs are around 16,000 RMB [14][29]. Competitive Landscape - Nvidia holds significant market power, controlling pricing and supply dynamics, which impacts China Chemical's pricing strategies [22][32]. - If China Chemical and other domestic companies increase production capacity, it could lead to oversupply and price competition, potentially affecting overall industry profitability [27][28]. Technological Improvements - Enhancements in catalyst performance and process optimization are crucial for improving production efficiency and reducing costs [6][18]. - The transition to a second-generation catalyst is expected to improve production stability and efficiency, which is vital for meeting market demands [12][15]. Regulatory and Economic Factors - The current regulatory environment and potential tariff policies could influence the competitive landscape and supply dynamics in the HMD market [32][35]. - The ability to meet domestic demand through stable production will be essential for reducing reliance on imports and enhancing market position [32][35]. Additional Important Insights - The production of HMD is closely tied to the performance of upstream suppliers and the overall market demand for nylon products, which are derived from HMD [22][28]. - The industry outlook remains cautiously optimistic, with potential for growth if technological and market challenges can be effectively addressed [28][29].