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We Think Satellite ChemicalLtd (SZSE:002648) Can Stay On Top Of Its Debt
The Total Return for Satellite ChemicalLtd (SZSE:002648) Investors Has Risen Faster Than Earnings Growth Over the Last Five Years
While Individual Investors Own 35% of Satellite Chemical Co.,Ltd. (SZSE:002648), Private Companies Are Its Largest Shareholders With 39% Ownership
Satellite Chemical (002648.SZ): Currently, there is still a demand gap of around 40% of equivalent among downstream products of domestic ethylene.
Chemical company Satellite (002648.SZ) stated during an investor relations event on August 15th that there is still about 40% of equivalent demand gap in downstream products of domestic ethylene, and many products such as high-end polyethylene, POE, EAA, etc. mostly rely on imports. Therefore, the domestic ethylene market still has room for significant growth. From the perspective of industry demand growth rate, global ethylene demand still maintains a relatively high growth rate every year; from the perspective of supply, there are many old devices built decades ago overseas, with a capacity built in the last century. Compared with small-scale integrated devices newly built in domestic, they have higher maintenance costs and are lacking.
Could The Market Be Wrong About Satellite Chemical Co.,Ltd. (SZSE:002648) Given Its Attractive Financial Prospects?
The latest movement of the social security fund has added shares in Western Mining, newly invested in Satellite Chemical, and reduced shareholdings in Bomesc Offshore Engineering.
With the gradual disclosure of listed companies' semi-annual reports, the latest trend of the social security fund has been revealed. At the end of last year, the social security fund released its annual report, stating that the total investment income of the social security fund since its establishment is 1657.554 billion yuan, with an average annual investment return rate of 7.66%. It is quite impressive that the social security fund can achieve such a performance with less than 40% of its equity assets. According to the published data, the accumulated yield of the social security fund has exceeded 80% from 2014 to 2022, while the Shanghai Composite Index has only increased by half of the former. The proportion of companies in the A-share market (listed before 2014) with cumulative growth exceeding 80% during the same period is only
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