10月10日，巴斯夫达成一项具有约束力的协议，将巴斯夫汽车原厂漆涂料、汽车修补漆及表面处理业务 （以下简称"巴斯夫涂料"）多数股权出售给全球投资公司凯雷旗下基金及卡塔尔投资局。 该交易的企业价值为77亿欧元，预计将于2026年二季度正式完成。此次交易与此前已剥离的装饰涂料业 务合计后，巴斯夫整个涂料业务的估值预计为87亿欧元。 来源：中国化工报 巴斯夫涂料业务包括汽车原厂漆涂料、汽车修补漆以及用于各行各业的金属、塑料与玻璃基板表面处理 产品在内的先进解决方案。该业务覆盖欧洲、北美、南美及亚太地区，2024年销售额约38亿欧元。 巴斯夫表示，其与凯雷紧密协作，将通过在商业运营能力、创新项目和组织架构方面的持续投入，进一 步强化客户导向，支持涂料业务的未来发展，共同打造行业领先的独立运营企业。 本次交易是巴斯夫实施"制胜有道"企业战略，释放"自主业务"价值方面迈出的重要一步。 交易完成后，巴斯夫仍将持续投入，持有涂料业务40%的股权，同时获得约58亿欧元的税前现金收益。 ...

据悉，这条生产线能够提供低 VOC （挥发性有机化合物）分散体， 有助于改善室内空气质量。更关键的是，工厂采用了质量平衡方法，能够生产碳 足迹更低的分散体，并且整个工厂将使用绿色电力运行。 不仅如此，2025年3月， 巴斯夫宣布其上海漕泾基地的聚酯与聚氨酯树脂产线扩建项目正式投产 ，产能实现翻倍。公司还计划于2026年初进一步扩大电 泳乳液及研磨树脂产能， 以强化在亚太汽车涂料领域的供应能力。 【DT新材料】 获悉， 10月10日， 巴斯夫 与全球投资公司凯雷旗下基金及卡塔尔投资局（QIA）达成一项具有约束力的协议，涉及 巴斯夫汽车原厂漆 涂料、汽车修补漆及表面处理业务 ，交易的企业价值为77亿欧元（约合人民币634.4亿元），预计将于2026年二季度正式完成。 这是继向涂料巨头 宣伟 出售巴西装饰涂料业务Suvinil后，巴斯夫近期又一大动作 。 两个项目合计，巴斯夫整个涂料业务部的估值预计为 87 亿欧元， 对应企业价值倍数约为13倍（即企业价值除以2024 年不计特殊项目的息税、折旧及摊销前收益）。 扩展阅读 ： 巴斯夫，百亿级两大业务出售 巴斯夫涂料 持续为行业提供包括汽车原厂漆涂料、汽车修补漆以及用 ...

Core Insights - The Asia-Pacific paint industry is experiencing a recovery, with a focus on "green" and "sustainable" development as key themes for future growth [2][3] Market Growth Trends - The Asia-Pacific region shows significant growth in the paint industry, with varying trends across countries. Vietnam's paint production is expected to reach 493 million liters in 2024, a year-on-year increase of 8.34% [3] - Malaysia's paint market has a compound annual growth rate (CAGR) of 13.6% since 2018, with an estimated total production of 495 million liters in 2024 [3] - Indonesia's paint market is projected to maintain steady growth, with an expected production of 105,860 tons in 2025, where water-based paints will account for nearly 70% [3] - The Philippines anticipates a growth of 4% to 6% in its paint industry by 2026, driven by protective, marine, and powder coatings [3] Global Market Projections - The global paint market is expected to see a CAGR of 3.0% in volume and 5.8% in sales revenue over the next five years, reaching 56.7 billion liters and $267 billion by 2029 [4] Policy and Demand Drivers - Government infrastructure and renovation projects are significant drivers for the paint industry in the Asia-Pacific region. Singapore's government has allocated SGD 60 million for promoting heat-reflective coatings by 2030 [5] - Indonesia's "3 million housing plan" aims to provide affordable housing for low-income groups, boosting local paint demand [5] - The Philippines' paint industry growth is supported by substantial government infrastructure investments, creating demand for high-performance protective coatings [5] Focus on Sustainability - The paint industry is increasingly emphasizing environmental friendliness. Australia's Paintback recycling program has processed over 56,000 tons of waste paint and packaging since its launch in 2016 [6] - Japan's paint industry is working towards carbon neutrality by 2050, with a focus on reducing CO2 emissions from the paint manufacturing sector, which is approximately 190,000 tons per year [7] - Several countries in the region are moving towards eliminating certain chemical components in paints, with Malaysia banning lead paints in 2020 and Indonesia and Vietnam progressing towards lead-free markets [7]

Investment Rating - The report suggests a cautious outlook on the chemical industry, with a focus on price increases for specific products and potential investment opportunities in companies like Kangkuan and nitrated cotton [1][2]. Core Insights - The chemical market is experiencing price increases, with notable price adjustments for products such as chlorantraniliprole and Bacillus thuringiensis, indicating a favorable pricing environment [1][2]. - Geopolitical tensions, particularly the Iran-Israel conflict, have led to increased oil prices, which in turn affects the chemical sector positively by raising the prices of related products like methanol and strontium carbonate [2][3]. - The report highlights significant events impacting the industry, including the launch of a new production facility by China Pingmei Shenma Group, which could alter the competitive landscape in the nylon industry [3][4]. Summary by Sections Market Overview - The basic chemical index fell by 0.01%, outperforming the CSI 300 index by 0.24% this week, with strong performances from specific stocks [1][11]. - Brent crude oil averaged $69.45 per barrel, up 6.22% week-on-week, while WTI crude oil averaged $67.89 per barrel, up 7.17% [11]. Key Events - The report notes the successful negotiation of a major potassium fertilizer contract at $346 per ton, indicating a positive outlook for the potassium fertilizer market [1]. - The establishment of a new 100,000 tons/year production facility by China Pingmei Shenma Group marks a significant development in the nylon supply chain [3]. Price Movements - The report tracks price changes for various chemical products, with significant increases noted in sectors such as textile chemical products and compound fertilizers [11][12]. - The report indicates that the prices of methanol and strontium carbonate are gaining attention due to their correlation with rising oil prices [2][11]. Industry Trends - The report emphasizes the ongoing recovery in domestic and international demand for chemicals, particularly in the tire and rubber sectors, which are seeing a resurgence in production rates [27][28]. - The AI industry is also highlighted, with significant investments being made, indicating a broader trend of technological integration within the chemical sector [4].

Core Insights - Yatu High-tech Materials Co., Ltd. has made significant progress in its IPO process, revealing a fundraising plan of 431 million yuan, which aligns with the industry's shift towards water-based coatings and green manufacturing [2][6] - The company is recognized as a leading player in the automotive repair coatings sector, driven by long-term investments in technological innovation and a strong patent portfolio [3][4] - Yatu High-tech's revenue and net profit are projected to grow significantly from 2022 to 2024, with compound annual growth rates of 15.42% and 37.98% respectively, while maintaining a gross margin of 43.5% in 2023, surpassing the industry average [4][5] Fundraising and Strategic Investments - The IPO proceeds will primarily fund five major projects, including the construction of a water-based coating intelligent production line, which is crucial for meeting increasing customer demands and capitalizing on market trends [6][7] - The water-based coating market in China is expected to grow rapidly, with a projected market size exceeding 150 billion yuan by 2025, indicating a significant opportunity for Yatu High-tech [6][7] R&D and Market Expansion - Yatu High-tech plans to invest 106 million yuan in upgrading its R&D center, focusing on developing various high-performance coatings and filling technological gaps in the domestic market [8] - The company will also allocate funds for establishing global marketing network demonstration stores and a digital integration center, enhancing its market presence and operational efficiency [8][9] Strategic Framework - The comprehensive fundraising plan reflects a strategic approach that integrates capacity enhancement, technological development, market expansion, and efficiency optimization, positioning Yatu High-tech as a potential leader in the domestic coatings industry [9]