China Anhui Jinqi Petrochemical Co., Ltd. Company News

In recent years, with the rapid growth of China's automobile, engineering machinery, electric power, steel, and machine tool industries and the continuous improvement of equipment technology, China's lubricant demand continues to grow, and China has become The world's second largest lubricant market.   With the rapid development of China's economy, China's lubricant industry has experienced an explosion in the past decade, gradually forming three major competition echelons: multinational oil companies, state-owned oil companies, and private lubricant companies. transnational Oil companies have an early layout in the domestic market and are in a leading position in the retail terminal market, such as Shell, Fu BP, Castrol and other foreign first-line brands. Relying on their technology and brand advantages, they have formed a pattern of dominating the Chinese lubricant market; centrally-owned oil companies The company has considerable scale and resource advantages, and has mature experience and strength in seizing group customers and cutting-edge application fields. Sinopec Great Wall Lubricant Company’s public information shows that it has obtained technical certifications from more than 95% of domestic automobile manufacturers, occupying the largest share of the installed base of automobile companies in China. Vehicle and service oils account for over 50% of the market share; private lubricant companies mainly rely on local markets, gradually expand market channels and form stable competitive forces. Generally speaking, the entry threshold for the lubricant industry is not high. During the rapid development stage of the market, various speculative lubricant manufacturers with poor management and unguaranteed quality rely on low-price fraud to disrupt the market order and compete for survival space.   According to incomplete statistics, the number of existing lubricant manufacturers in China still exceeds 2,000. In the medium to long term, increased domestic demand and investment in infrastructure construction will provide a huge consumer market for the lubricant industry. Industry growth will inevitably be accompanied by the adjustment and optimization of the industry’s consumption structure.   Domestic Brands will usher in important development opportunities by relying on high-end products to replace low-end products and domestic products to replace imported products. Judging from the competition model in the terminal market, leading companies are leading import substitution and product upgrading. On the one hand, they are compressing the living space of low-grade oil and inferior oil and optimizing the market order. On the other hand, they are using the cost-effectiveness advantage of domestic products to compete for the high-margin market and maintain their competitiveness with automobiles and high-end oil. Equipment, intelligent manufacturing and other fields are developing simultaneously, and companies with high-end product development capabilities and brand advantages will gradually achieve sales and profitability on the same track.

On October 17, 2021, the 2021 Beijing International Wind Energy Conference and Exhibition (CWP 2021) was grandly held in Beijing. This conference is based on "Carbon Neutrality - New Opportunities for Wind Power Development". The theme will last four days. As one of the largest annual events in the global wind power industry, CWP2021 has an exhibition area of 60,000 square meters, with more than 600 exhibitors, and has invited more than a hundred speakers and thousands of domestic and foreign participants to focus on the future of China's energy revolution. In the past thirteen years, CWP has grown into one of the world's largest and most influential wind energy professional exhibitions, attracting many wind power companies, experts, scholars and technical elites to participate, and has provided a strong foundation for Chinese and foreign wind energy exhibitions. The electricity industry works together to develop the industry and explore global energy transformation to provide a communication platform. CWP has become a veritable weather vane and barometer for the development of China's wind power industry.