Functional sugar alcohol faucet! The new sorbitol has been gradually increased, and it has also extended to the upstream of the industrial chain, involved in xylose production...
Written late at night on March 2, 2012
Text/Dolphin tone
Dolphin reads the new (interpret the new changes, tap the growth potential of bull stocks, welcome to pay attention)
Recently the main line rotation feels very fast, yesterday was a chip, today it became carbon neutral, March just came a start to this afternoon most stocks are crazy killing. I have to say that the concept of carbon neutrality really covers a very wide range, from photovoltaics, wind power, electricity, environmental protection are all involved, it is difficult to say who is the most involved in the financial intentions. Under the catalyst of carbon neutrality, the new stock of The New Board of South Grid Energy successfully sealed the board this afternoon, as a low-priced stock that has attracted much attention today, it finally stepped out of the third up-and-down board after the opening of the board.
Energy-saving service first share! China Southern Power Grid is directly controlled, and the concept of photovoltaic + low-priced stocks is superimposed
Of course, the best way is the environmental protection plate, the registration system of new shares C crown rose by more than 12%, the crown of the ecological main ecological restoration, and has independent research and development of excellent grain soil, spraying equipment and mass spray vegetation restoration technology, is one of the very few ecological restoration enterprises in the industry with material processing and production and equipment development links, but the relevant ecological restoration targets are also many, scarcity in general, the current top is still too high, mainly or the benefits of the registration system of new shares, the later stage is still cautious.
And the dolphin also found a pattern, that is, every time you see only a very few registered new stocks soaring sharply, often most of the stocks are crazy plummeting, this phenomenon is really bad.
Yesterday's collective change in the main line of the chip today only the new clean energy successfully promoted to the second board, but the current position of the new clean energy this wave is also a rebound high, today's intraday other chip stocks many rushed back down, the overall chip stocks or to choose the texture of the position is reasonable, cautiously chase high.
Today's listed new stocks - Medikai, following the lante optoelectronics in the science and technology innovation of another Apple concept stock, the overall or high open a lot, coupled with the current electronics sector outlet long-term weak or cautious better. Then there is the science and technology innovation stock Haitai Xinguang listed last week, do endoscopic hard mirror, the market has a lot of blows what is the concept of medical beauty, in fact, the proportion of this business is still relatively low, short-term stock price is still a bit high, but the quality of this stock is OK, and there is a chance to analyze in detail later.
Today's opening board of new shares three - garden shares, Liande shares, Wang Li security, brush all fell to stop the opening board, really a bit of terror, no way, the quality of new shares is indeed not very good, Wang Li security to do the entrance door, highly dependent on real estate, compared to the entrance door track is not bad to do tiles of Dongpeng Holdings. In short, there are more and more new stocks, and the speed of new stock issuance is faster than the speed of learning by big guys, but in fact, the fundamental problem is that there are few new stocks, so recently Dolphin has begun to selectively abandon the analysis of new stocks without bright spots.
Today continue to talk about a near-end sub-new - Huakang shares, the recent proximal sub-new quality can be said to be scarce, of which Huakang shares because of the occupation of the "sugar generation" excellent track and attracted much attention, after all, in May to September 2020 in less than half a year Bowling Bao and other sugar concept stocks once out of the magnificent market. Not to mention that Huakang is also one of the purest sugar substitute concept stocks in A shares, the world's second largest xylitol manufacturer, under the trend of sugar control and sugar reduction, it is the next consumption potential stock in the sub-new, so how about Huakang shares? And watch the dolphins dissect you today!
Xylitol production is the second largest in the world, with a global market share of 18.9%, Mondelëz + Mars is the company's top two customers, and the total revenue accounts for more than 45%
The company was founded in July 2001, China's food additives and ingredients industry top ten, the initial company to crystalline xylitol-based, and then gradually developed into a comprehensive functional sugar alcohol manufacturers, as of now the company's main products are crystalline xylitol (62%), crystalline sorbitol (11.7%), maltitol (5.5%), fructose syrup (16.6%), etc., widely used in food and beverage, daily chemical and other industries, the main customers are Mars Wrigley, Mondelëz, Bufandi, Ferrero, Hershey, Hollyo, Coca-Cola, Pepsi Cola, Master Kong, Nongfu Spring, Wahaha, Mengniu, etc.
The company is the world's leading manufacturer of xylitol and crystalline sorbitol, in 2018 the company's xylitol production ranked first in China, with a domestic market share of 48%; ranked second in the world, with a global market share of 18.9%, and in 2018, it was selected by the Ministry of Industry and Information Technology as a "single champion product" for food xylitol. Other major xylitol manufacturers in the world are Denisco, Shandong Lujian and Shandong Futian. In 2019, the company's crystalline sorbitol production reached 25,000 tons, ranking the forefront in China.
At the same time, the company also extends to the upstream of the industrial chain, through the subsidiaries Jiaozuo Huakang (using corn cobs as raw materials) and Yahua Bio (using hemicellulose as raw materials) to produce xylitol raw material xylose. The raw materials purchased by the company are mainly starch, xylose and corn cobs, and the proportion of procurement is about 30%, 40% and 5% respectively.
The proportion of the company's overseas revenue increased from 38.7% in 2017 to 55% in 2019 year by year, and further increased to 60.9% in the first half of 2020, of which the European market grew rapidly, with 2.6 times of revenue in 2 years, and the proportion of revenue increased significantly from 18% in 2017 to 29% in 2019, and further increased to 34% in the first half of 2020. Mainly because Mars Wrigley and Mondelëz have increased the purchase of the company's xylitol and other products.
The company began to supply Mars Wrigley and Mondelëz in 2003, mars Wrigley has been ranked as the company's largest customer, accounting for 18.6%, 23% and 33% of revenue in 2017-2019, respectively; Mondelëz is the company's second largest customer, accounting for 11.7%, 14.9% and 12.7% of revenue in 2017-2019, respectively. The company's other top five customers are Extraordinary Emperor, Coca-Cola and so on.
A list of major customer brands
Mars Wrigley – Green Arrow, Yida, Dove, Snickers, Crispy Rice, etc
Mondelëz – Oreo cookies, Cadbury milk chocolates, myoka chocolates, clear to chewing gum
Extraordinary Emperor - Alps, Mantos, Pearl Treasure
Functional Sugar Alcohols: Sugar Substitutes! Low calorie + non-caries + wholesome natural sweetener, in line with the general trend of sugar control and sugar reduction
Functional sugar is generally difficult for the human body to digest or indigestible ingredients, with low heat and low energy excellent characteristics, after entering the human body can selectively stimulate the human body's colon physiological functions, not only can promote the growth and reproduction of beneficial bacteria in the body, solve the problem of human constipation and diarrhea, but also promote the absorption of trace elements by the human body. The overall functional sugar can meet the needs of those who love desserts and worry about gaining weight to the greatest extent, and can be eaten by diabetics, obese patients and hyperglycemic patients, with weight control, intestinal health, oral health, food quality improvement and other effects.
It is widely used in food, dairy, beverage, baking, medicine, feed and other fields. The Joint Professional Committee on Food Additives under the Food and Agriculture Organization of the United Nations (FAO) and the Organization approved that there is no limit to the daily allowable intake of four functional sugar alcohols: xylitol, sorbitol, maltitol and lactitol.
Relevant data show that the global functional sugar alcohol market is expected to grow at a compound growth rate of 4.8% in 2017-2022, and the Asia-Pacific region has now become the largest producer of functional sugar alcohols in the world. China's functional sugar alcohol production in 2016 was only 600,000 tons, by 2012 has increased to 1.6 million tons, after which it remains stable, the future with the healthy life and personal care demand continues to increase, the output is expected to further increase.
In terms of sub-categories, sorbitol production is the largest, accounting for more than 82%, maltitol, xylitol and mannitol production accounted for 8.8% and 3.8% respectively. At the same time, China is also an important exporter of functional sugar alcohols, xylitol, sorbitol in 2012-2019 export compound growth rate of 21%, 16.6%, respectively.
In terms of market demand, relevant data show that about 45% of the population in China is overweight or obese, and in 2016, 39% of The adult population in China accounted for 39%, of which the obese population accounted for 13%. With the improvement of people's health awareness, obesity, diabetes and other modern diseases are becoming increasingly prominent, coupled with the sale of xylitol chewing gum, functional sugar alcohol health products, functional sugar alcohol "sugar-free concept" began to penetrate the hearts of the people, in 2018 the global sugar consumption reached 172 million tons, and whether it is China or the United States, sugar intake is proposed to be controlled below 10% of the total energy intake, China also encourages enterprises to carry out low sugar or sugar-free publicity, under the global sugar control, sugar reduction trend, sugar substitutes - The market size of functional sugar alcohols will be further expanded, and the specific downstream application areas are as follows:
Chewing gum: Global market size of $29 billion in 2017, compound growth rate of 6.7% from 2017 to 2025
Confectionery Chocolate: Global Market Size of $170.9 Billion in 2017, Compound Growth Rate of 4.1% from 2017 to 2025
Baking: China's market size in 2017 was 743.1 billion yuan, and the compound growth rate of 7.3% from 2012 to 2017
Health food: China's market size in 2017 was 500 billion yuan, and the compound growth rate of 2012-2017 was 12.3%
It is worth mentioning that xylitol can replace glycerol for the manufacture of anti-drip film and battery plates; sorbitol can be used to make foam polyester, and can also replace petroleum for the manufacture of corn chemical alcohol; maltitol can be used as a raw material for synthetic chemicals, used to manufacture synthetic resin surfactant contact agent, and can also be used as a moisturizer for cigarettes to improve the water holding capacity of tobacco.
China's functional sugar alcohol industry started late, although the production process has reached the international advanced level, but in the food, beverage, medicine, daily chemical and other downstream application research is still relatively backward, the future can also be greatly expanded potential.
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