Jinhe Industry (002597) Incident Review: New 5000t maltol and 5000t sucralose recycling industrial park project steadily promotes future development worth looking forward to

Jinhe Industry (002597) Incident Review: New 5000t maltol and 5000t sucralose recycling industrial park project steadily promotes future development worth looking forward to
Key investment events: Jinhe Industry issued an announcement that the company invested in its own funds to build a 5,000-ton sucralose project; the holding subsidiary Yinzhou Jinwo Biological Technology Co., Ltd. was implemented as a project, with its own funds to build an annual output of 5,000 tons.Maltol project.  At the same time, the company issued an announcement to adjust some of the planned projects of the first phase of the Jinhe Industrial Circular Economy Industrial Park.Salt and other items.  Adjusted to “Buy” investment rating.Jinhe Industry is the global maltol industry leader, and the sucralose production capacity is also in the first echelon. Through the construction of 5,000 tons of maltol and 5,000 tons of sucralose, the company will further consolidate the industry advantage and increase the company’s performance.At the same time, the diversified product range of the Dingyuan Circular Economy Industrial Park project will promote the adjustment of the company’s product structure, speed up business development, and enhance the company’s overall core competitiveness.  Jinhe Industry is a leading enterprise of food additives.The company mainly synthesizes sweetener acesulfame, sucralose and spice maltol have the world’s largest production capacity, and the downstream demand of products continues to grow rapidly.Ansaimi’s industry structure is stable and product profitability. 北京夜网 In the competitive stage of sucralose and maltol, the company continues to improve its technological level, build an integrated industrial chain to strengthen its cost advantage, and promote the market to continue to improve its profitability.With 1,500 tons of sucralose in 19 years, Dingyuan Phase I maltol and sucralose raw materials have been put into production successively, and Dingyuan Phase II potassium sorbate and its raw material planning have been advanced in an orderly manner.To create new business growth points.  We maintain the company’s EPS for 2019-2021.47, 1.76 and 2.The 24 yuan forecast considers that the company’s existing business trend is good, the new business has a bright future, the company’s product structure is constantly improved, and its core competitiveness is continuously improved.  Risk warning: The price of chemical products fluctuates sharply, new projects are put into operation less than expected, and downstream demand is sluggish.