证券日报网讯 12月17日，卫星化学（002648）在互动平台回答投资者提问时表示，公司专注于围绕优 势竞争力打造世界一流化学新材料科技公司，乙烯聚合工艺是公司下游重要发展方向之一，α-烯烃单 体、茂金属催化剂及聚合工艺都是公司自主技术，对该领域都有深入的研究与心得，正在研发不同性能 产品的机理。 ...

本报记者 李勇 当前，国内拟建POE项目总产能已突破600万吨/年，今年新增产能约100万吨/年。 李鹏岩认为，未来，随着我国POE产能的陆续投产，不仅将显著缓解国内POE供给受限局面，同时，也将直接带动茂金属 催化剂的本土采购需求。 对于此次收购，风光股份在公告中表示："三石博涛成为公司控股子公司后，有利于优化公司资源配置，提高公司盈利能 力。" POE在多个新兴领域都扮演着关键角色。其中，光伏封装胶膜是当前POE增长最快的下游应用。 "POE胶膜兼备抗PID（电位诱导衰减）性能和水汽阻隔性、无醋酸等特性，是目前双玻组件、N型电池的主流封装材 料。"有不愿具名的新能源业内人士向《证券日报》记者表示，随着N型组件的持续放量，高性能POE胶膜需求快速攀升，对 POE材料需求有望保持高速增长。 中国城市专家智库委员会常务副秘书长林先平向《证券日报》记者表示："POE作为重要的聚合物材料，在医疗、包装、 汽车、电子、建筑、光伏等领域都有着广泛的应用，已成为现代工业不可或缺的关键材料。" "POE制备存在三大难点，分别为高碳α-烯烃原料制备、茂金属催化剂的制备和溶液聚合工艺的控制。"李鹏岩表示，此次 在催化剂领域的自 ...

Core Viewpoint - The domestic breakthrough in the production of Polyolefin Elastomer (POE) has made significant progress in the catalyst segment, with Fengguang Co. planning to acquire 51% of Ningxia Sanshi Botao Technology Co. for 5.2 million yuan, marking a step towards self-sufficiency in the POE industry [1] Group 1: Company Developments - Fengguang Co. focuses on the research, production, and sales of high-performance polymer chemical additives and is a leading enterprise in the domestic antioxidant industry [1] - The acquisition of Sanshi Botao represents Fengguang's further expansion in the field of metallocene catalysts, which are crucial for POE production [1] - The company aims to optimize resource allocation and enhance profitability following the acquisition [4] Group 2: Industry Insights - POE is a copolymer elastic material with excellent weather resistance, chemical performance, toughness, and processing capabilities, primarily produced using metallocene catalysts [2] - The demand for POE is rapidly increasing, particularly in photovoltaic encapsulation films, driven by the growth of N-type solar components [3] - China has been heavily reliant on imports for POE due to high technical barriers, but domestic production capacity is expected to exceed 6 million tons per year, with an additional 1 million tons added this year [3][4] - The breakthrough in metallocene catalyst production is significant for achieving self-sufficiency in the POE industry, addressing critical supply constraints [3]

Core Insights - The conference highlighted the importance of green and high-end development trends in the petrochemical industry, emphasizing these as key pathways for transformation and upgrading [1][2] Group 1: Green Solutions in Petrochemicals - Traditional solar cell backings made from PET are environmentally unfriendly and costly, with issues like hydrolysis under high humidity [1] - Sinopec proposed a new eco-friendly solution using polyolefin materials for solar cell backings, which reduces raw material consumption by 26% and enhances recyclability [1] Group 2: Advancements in Energy Storage - Solid-state lithium batteries are advancing towards higher energy density and safety, utilizing solid electrolytes that can withstand higher voltages and capacities [1] - Current challenges include the high cost of electrolyte materials and the need for further research to mature the technology [1] Group 3: Innovations in Carbon Fiber - The development of high-value-added carbon fiber products is crucial for the industry, with applications in aerospace, new energy, and engineering machinery [2] - Research breakthroughs include uniformly colored carbon fibers with superior thermal reflection and gradient structure carbon fibers suitable for flexible wearable devices [2] Group 4: High-End Polyolefins Development - Despite an oversupply of bulk polyethylene and polypropylene, there is strong demand for high-end polyolefin materials in sectors like aerospace, new energy, and biomedical [2] - The self-sufficiency rate for high-end polyolefin materials in China is low, with significant reliance on imports, prompting research into metallocene catalysts and thermoplastic elastomers [2]

Core Viewpoint - The company has experienced a significant increase in profits and market share in the second quarter, despite a notable decline in revenue compared to previous quarters due to changes in business structure and sales volume [1][2][3]. Group 1: Financial Performance - As of August 15, 2025, the company reported a 38% decrease in revenue in the second quarter compared to the previous quarter, primarily due to a 14% reduction in other business income and a 31% decline in sales revenue from high-priced products [2][3]. - The company’s recent fund, Quan Guo Xu Yuan Mixed A, achieved a return of 40.15% over the past year, indicating strong performance in the fund market [1][2]. Group 2: Business Segments - The company operates in various sectors, with the fine chemical sector accounting for 70.48% of total revenue in the first half of 2025, driven by a 49.26% increase in sales in the pharmaceutical segment [4][5]. - The basic chemical sector contributed 25.35% to revenue, with a remarkable 185.54% increase in sales, largely due to a 113.22% rise in sales of mercury-free PVC catalysts [4][5]. - The environmental and new energy sector represented 2.90% of revenue, with an astonishing 1,497.06% increase in sales, attributed to advancements in hydrogen catalysts [4][5]. Group 3: Product Development and Market Expansion - The company has successfully developed and sold over ten types of catalysts in the basic chemical sector, with significant market potential in PVC and BDO catalysts [6]. - The hydrogenated nitrile rubber project is progressing well, with the first phase planned for 1,000 tons/year capacity, expected to release 30%-40% of its capacity in 2025 [7]. - The company is actively pursuing opportunities in the metallocene catalyst field, which is crucial for the domestic production of high-end polyolefins [8]. Group 4: Strategic Decisions - The company has decided to deregister a subsidiary, Keli Platinum, due to uncertainties in its future operations and to optimize resource allocation [8]. - The company reported a fair value loss of nearly 4 million due to gold leasing activities, which are part of its processing business [8].

Group 1 - The 12th World Congress of Chemical Engineering and the 21st Asia-Pacific Chemical Alliance Conference opened in Beijing, marking the first joint event in China [1] - The chemical engineering sector is seen as a bridge discipline that connects fundamental sciences with industrial applications, driving societal progress and development [1] - The chemical industry is entering a new transformative phase due to the acceleration of a new round of technological revolution and industrial change [3] Group 2 - Liaohe Petrochemical's history dates back to the 1970s when it began producing domestic polyester fibers, marking a significant milestone in China's chemical industry [4] - Chen Ying, a senior expert at Liaohe Petrochemical, led the development of PETG copolyester, making China the third country to master its production technology after overcoming foreign monopolies [6][9] - The development of high-performance synthetic rubber at Dushanzi Petrochemical has allowed the company to break foreign monopolies in the domestic market, with significant production capacity established [25][27] Group 3 - Lanzhou Petrochemical has been a key player in China's refining and petrochemical industry since the 1950s, contributing to the development of synthetic rubber products [34] - The annual production of synthetic rubber in China reached 9.1 million tons by 2023, accounting for nearly half of the global market share, significantly altering the global rubber industry landscape [37] Group 4 - Jilin Petrochemical, established in the 1950s, has evolved from relying on imported technology to developing its own, with plans to reach an annual ABS production capacity of 1.8 million tons by 2025 [45] - Dushanzi Petrochemical achieved a world-first in the continuous production of different metallocene catalysts, showcasing China's capability in independent innovation [53]

Core Viewpoint - The successful pilot production of the POE project by Dingjide marks a significant breakthrough in domestic production capabilities, demonstrating the company's advanced self-developed metallocene catalyst technology and its potential to reduce reliance on imports [1][2][4]. Group 1: Company Developments - Dingjide's pilot production facility for POE has commenced operations and is producing stable outputs, validating the performance of its self-developed metallocene catalyst [1][2]. - The company has achieved a significant milestone by overcoming key production challenges associated with metallocene catalysts, high carbon α-olefins, and polymerization processes, which have historically hindered domestic POE production [2][4]. - Dingjide's self-developed metallocene catalyst has reached industry-leading standards, enhancing its production capabilities and cost control, thereby improving its profit margins and risk resilience [2][4][5]. Group 2: Market Dynamics - The POE market has seen price increases from major players like LG Chem and Dow Chemical, attributed to rising demand in sectors such as photovoltaic cells and electric vehicles, alongside limited domestic production capacity [3][4]. - The high cost of raw materials, including metallocene catalysts and α-olefins, has been a significant factor in the pricing dynamics of POE, with domestic production still heavily reliant on imports [3][4]. - Despite concerns about potential overcapacity and price declines in the POE market, the production process for POE is complex and lengthy, suggesting that new entrants will face significant challenges in achieving commercial viability [6][7]. Group 3: Future Outlook - The long-term outlook for the POE market remains positive, with expectations of reduced production costs and increased market competitiveness as domestic capacities gradually come online [7][8]. - Dingjide's strategic positioning as a supplier of key materials, including metallocene catalysts, is expected to provide it with a competitive edge in the evolving market landscape [5][8]. - The company's advancements in technology and comprehensive industry chain layout are likely to position it favorably in the upcoming market transformations, potentially leading the domestic POE industry to new heights [8].

Core Viewpoint - The successful trial production of POE products by Dingjide's subsidiary marks a significant step towards establishing a complete and controllable POE production chain, addressing the growing demand in the photovoltaic and automotive sectors [1][2][3][4] Group 1: Production and Technology - Dingjide's trial production of POE products has achieved stable operation and met international standards, laying a solid foundation for the planned annual production of 200,000 tons of POE [1] - The company has independently developed and verified the performance of metallocene catalysts, which are crucial for POE production, achieving industry-leading standards [1][4] - The successful trial production indicates that Dingjide has overcome three major technical challenges in POE domestic production, enhancing its competitive edge in the market [4] Group 2: Market Demand and Applications - The demand for POE in the renewable energy sector is expected to surge, with projections indicating a potential global demand of nearly 1 million tons by 2025, significantly outpacing other application areas [2] - Dingjide is targeting major automotive manufacturers, as the lightweight and weather-resistant properties of POE make it suitable for various automotive components, further driving demand [3] - The company aims to fill the current domestic supply gap in POE production, as existing capacities are nearly non-existent, positioning itself as a key player in the market [2][3] Group 3: Strategic Positioning - Dingjide has established strong relationships with downstream customers in the polyolefin industry, particularly in antioxidant and POE particle applications, providing a solid foundation for customer expansion [2] - The company’s ability to produce its own metallocene catalysts and α-olefins allows it to maintain control over the entire POE production chain, reducing reliance on foreign technology and enhancing profit margins [4] - With the completion of trial production, Dingjide is well-positioned to capture a larger market share in the trend of domestic substitution for high-end materials [4]