Research Reports Digging Gold | Northeast Securities: Initiates a "Shareholding" rating for Huafon Chemical, with product competitiveness and production and sales scale leading in the Industry.

Gelonghui Finance · Dec 31, 2024 16:13

Northeast Securities' Research Reports point out that Huafon Chemical (002064.SZ) is deeply involved in the polyurethane Industry Chain, with leading product competitiveness and production and sales scale in the Industry, initiating coverage with an "Add to Shareholding" rating. From the perspective of the Industry's competitive landscape, the Industry shows a high concentration, with CR5 reaching 82%, and new production capacity mainly concentrated in leading companies. Currently, the price difference of spandex has returned to historical lows, and with the current round of industry expansion nearing its end, along with the continuous improvement of demand in spandex application areas and penetration rates, the prices and profitability of spandex products are expected to recover. The company's spandex profitability is outstanding, with a gross margin of 14.97% for the company's spandex Business in H1 2024, further widening the gap in profitability compared to peers.

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研报掘金丨东北证券：首予华峰化学“增持”评级，产品竞争力及产销规模行业领先

Research Reports Digging Gold | Northeast Securities: Initiates a "Shareholding" rating for Huafon Chemical, with product competitiveness and production and sales scale leading in the Industry.

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