Gelonghui, October 21 | Guohai Securities Research Report points out that the future competitive advantage of the chemical industry lies in the “engineer dividend,” and Wanhua Chemical (600309.SH) is one of the few examples in China where technological innovation drives the development of companies. Based on an excellent culture, the company has built two major moats of high technology and low cost through technological innovation and excellent operation. In the short term, what affects the fundamentals of Wanhua Chemical is the popularity of the product. Judging from the characteristic indicators, price differences are the most central factor affecting short-term profits. In the long run, what affects the fundamentals of Wanhua Chemical is future growth. Landmark products that can prove that the company has the ability to continue to evolve are critical. Wanhua Chemical has proven itself on the MDI circuit. The projects the company may land in the future are the direction of the company's future efforts, which is a space for the company to continue to evolve. Consider the company's high future growth and maintain a “buy” rating.