According to the GLONGHUI July 24丨Debon Securities research report on the 23rd, the performance of Zhongxin Fluoride Materials (002915.SZ) was under pressure in 2023Q2, and the operating indicators improved in July. Management expenses and sales expenses increased year-on-year due to the development of domestic and international marketing of new products. As prices and sales of related products stopped falling and stabilized in late June, various operating indicators for the month began to gradually improve. Projects such as the DEX project and 2,4,5-trifluorophenylacetic acid will gradually be sold in the second half of 2023; the 5,000 ton sodium hexafluorophosphate project and the 10,000 ton 1233ZD project are under construction. As the number of proposed/ongoing projects continues to expand, fluorine-containing specialty monomers, sodium salts, and fourth-generation refrigerants are expected to contribute new profit growth points. The bank expects the company's earnings of $0.60, 1.48, and $2.15 per share in 2023-2025, corresponding to PE of 27, 11, and 8 times, respectively. Based on the fact that the company has completed the layout of the entire fluorite-hydrofluoric acid-fluorine fine chemicals industry chain and continues to repair, strengthen and extend the chain, relying on years of intensive technology accumulation, it is actively expanding new energy and refrigerant products. It has abundant projects in/proposed, is developing rapidly, and maintains a “buy” rating.