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财通证券:培育钻毛坯价格低点已过 上游龙头业绩确定性强

CaiTong Securities: Cultivating low rough prices has passed the upstream leaders' performance is highly certain

Zhitong Finance ·  Dec 14, 2022 09:27

Zhitong Financial APP learned that Caitong Securities released a research report on the nurturing diamond industry, saying that the Q3 performance was on the ground, the performance of major companies maintained high growth in the first three quarters, and the prosperity of nurturing diamond / industrial diamond / composite superhard materials was high. Off-season blank prices have passed the low point, is now in the U. S. jewelry consumption season, downstream demand remains resilient. Terminal traders and retailers replenish stocks. In November, India's exports of cultivated bare diamonds were + 23% compared with the same period last year. Benefiting from the seasonal improvement on the demand side, domestic blank prices have gradually stabilized and rebounded since the end of September, and the upstream leader has strong performance certainty based on the technological advantage of production capacity.

Recommended concerns are as follows:HTHP production capacity leader in the Red Arrow (000519.SZ), Power Diamond (301071.SZ), and CVD will soon contribute to the incremental performance of Sifangda (300179.SZ), National Machinery Seiko (002046.SZ), Wolde (688028.SH).

Indian Diamond Jewelry Import and Export data tracking: cultivation Diamond bare Diamond Export + 23% compared with the same period last year

In November 2022, India's imports of cultivated diamond blanks were US $77 million, down 13.96% from the same period last year, and exports of cultivated diamonds were US $105 million, an increase of 22.88% over the same period last year.

In November 2022, India's rough imports of natural diamonds were US $1.33 billion, up 24.22% from the same period last year, while exports of bare diamonds were US $1.248 billion, down 4.17% from the same period last year.

Raise the permeability at the exit end of the drill:

In November 2022, India cultivated diamond import permeability of 5.49%, year-on-year-2.09pct; export permeability of 7.79%, year-on-year + 1.61pct.

The United States is in the peak season of jewelry sales, downstream demand is strong, and the export of nurtured bare diamonds continues to grow. After the stock was removed from September to October, the import ratio of the drill blank was restored. The downstream consumption of the United States is resilient, the export end continues to decline under the pressure of natural diamond sales, there is a broad space for drilling replacement, and the permeability is expected to continue to increase.

The translation is provided by third-party software.


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