[Pharmacy] Another domestic CDMO enterprise has commercial production capacity.
The PD-1 commercialization project of CDMO enterprise Chime Biologics successfully passed site inspection for registered production by the National Medical Products Administration with high scores. Its commercial production is about to be approved, making the company the second CDMO enterprise in China that can do the project to commercial production. At present, the biopharma CDMO business is in its prime period. According to Frost Sullivan, China’s CDMO market will grow at an average CAGR of 38.1% and is expected to reach RMB 45.8 billion by 2025.
Key point: Compared with the international COMO giants, the domestic COMO company’s reactors are mainly in the scale of 2000L and excess state. The 15000L stainless steel reactor will become the breakthrough direction of the future macromolecule CDMO.
[Semiconductor] The ASPICE IGBT capacity is in shortage, and the gap between supply and demand is over 50%.
The automotive electrification and intelligence develop rapidly, and the rapid increase of photovoltaic installed capacity results in the surge of inverter IGBT demand. Therefore, it is estimated that the market size of IGBT in China will reach 2.6 billion dollars by 2024. Currently, the global market is monopolized by Europe and Japan. The capacity expansion speed is limited, and the gap between the supply and demand of ASPICE IGBT continues to expand. The slow technological progress, serious shortage, supply chain security, and other factors will bring opportunities for Chinese IGBT industry in the future.
Key point: With the change in market pattern, IGBT manufacturers in China boast development opportunities. BYD Semiconductor, CRRC Times Electric, Starpower Semiconductor, Silan, Macmic Science & Technology, Zhixin Semiconductor, etc., all have expansion plans while increasing research and development efforts and improving the production process.
[Energy Storage] The world’s first non-supplementary combustion compressed air energy storage power station will soon start commercial operation, with a development prospect comparable to pumped storage.
Recently, the National experimental demonstration project, Jintan 60MW/ 300MWH Salt Save Compressed Air Energy Storage, started continuous and full load trial operation successfully. The project adopts the technology independently developed by Tsinghua University, greatly contributing to the development and large-scale application of China’s compressed air energy storage industry. Compressed air energy storage has a large installed capacity, long energy storage cycle, and high system efficiency, with a life span of 40-50 years. At present, the investment cost of 100MW compressed air energy storage is about 100 million yuan, which is expected to decrease by 30% after large-scale industrialization.
Key point: The advanced compressed air energy storage technology of hundreds of megawatts and above is the best choice for large-scale and long-term energy storage market industrialization. At present, there are more than ten companies with relevant business, including Sunway Chemical Group, Yunnan Energy Investment, Shaangu Power, and so on.
[Hydrogen] Great Wall Motor will promote a new fuel cell passenger car brand. SAIC clarifies electricity-hydrogen integration technology.
Great Wall Motor has completed product planning for fuel cell passenger vehicles. Its fuel cell subsidiary has completed A round of financing of 900 million yuan, with a post-investment valuation of more than 4 billion yuan. At the annual general meeting of shareholders in 2021, SAIC revealed three vehicle technology bases, including the “SAIC Xinghe” electricity-hydrogen integrated structure, and identified hydrogen energy as the primary technology route in the era of electrification.
Key point: Research data predict that the output value of hydrogen energy in China will reach 800 billion yuan by 2025. And the number of fuel cell vehicles is expected to reach 76,000 by 2025 and 200,000 by 2030.
[Chemical fiber] Spandex prices have fallen more than 40% in half a year, and the industry predicts it will remain low.
In 2021, the domestic demand for spandex was 769,000 tons, with a year-on-year growth of 14.9%. In August of that year, the price of spandex rose to 80,000/ton. Affected by multiple factors, the spandex price has fallen to 46,500 yuan/ton, down more than 40%. In the short term, prices are expected to stabilize as the epidemic improves and logistics resume. However, spandex prices are expected to remain low due to poor demand.
Key point: At present, the industry is in a state of tired inventory. High inventory pressure is difficult to ease. Small and medium-sized enterprises can start work, and some head enterprises have not fully resumed production with not enough new lines. The price of the main raw material, BDO, has not fallen to the bottom. It is expected that the spandex price will drop as well.
The above information is from public media for reference only.
Post time: Jun-08-2022