Recently, the National Development and Reform Commission, the National Energy Administration, and the Ministry of Finance and other 15 departments recently jointly issued the "Implementation Guidelines on Expanding the Production of Biofuel Ethanol and Promoting the Use of Ethanol Gasoline for Vehicles." Fang Wei's contents include ensuring the supply of biofuel ethanol, actively promoting the promotion of ethanol gasoline for vehicles, strengthening supervision and inspection, and promoting the development of bio-liquid fuels. It is planned that 2020 will basically adopt ethanol gasoline. In fact, as early as 2001, China has piloted the promotion of ethanol gasoline for vehicles in 11 provinces and regions. At present, ethanol gasoline consumption accounts for one-fifth of China's total gasoline consumption.
Stimulated by the news, a number of "ethanol concept stocks" were spurred by the market. Among them, cassava resources (841) were heated by investors since Wednesday. They stopped trading after a 38% surge yesterday. The cumulative increase has doubled so far. Although dried cassava chips are one of the raw materials for ethanol, the raw materials for producing ethanol can also be corn, wheat and sugar cane. Therefore, the market is over-hyped for the cassava-related shares, which is a bit of a crown. In fact, China began to promote biofuels for food crops such as corn in the late 1990s. The ethanol gasoline policy was introduced and it is expected that corn will become one of the main raw materials for ethanol production.
The corn in the mainland has been harvested in recent years, and the stock of corn has remained high. The country’s corn stocks are as high as 250 million tons, and the inventory in the central and northeastern regions alone exceeds 100 million tons. Therefore, the use of ethanol gasoline for vehicles and the expansion of biofuel ethanol production are now promoted. Not only can we optimize the energy structure, improve the atmospheric environment, but also achieve the role of regulating the food market. According to the analysis, based on the consumption of 112 million tons of gasoline in the Mainland last year, even if all gasoline is replaced with ethanol gasoline, it will require about 11.2 million tons of ethanol per year, which is equivalent to about 33 million tons of corn. Therefore, only corn is consumed every year. About one-eighth of the inventory, there will be no food shortage.
When the national policy is introduced, it will naturally cause a round of fund speculation, but investors must pay attention to the correlation between their business and biofuels when buying relevant concept stocks. For individual stocks, investors can pay attention to China Grains and Oils (606). The Group's main products and businesses are oilseed processing, rice trade and processing, biofuels and biochemicals, beer raw materials and wheat processing. As of the end of June this year, benefiting from the rebound in oil and fat products and fuel ethanol prices, the Group's interim turnover was HK$44.43 billion, up 9.0% year-on-year. The results turned profitable and recorded a net profit of 1.06 billion yuan. Among them, biochemical and biofuel business accounted for 44.6% of the Group's segment profit. With the introduction of the state party, the promotion of the use of ethanol gasoline for vehicles is expected to have a positive impact on China's grain and oil performance. The Group's forecast P/E ratio is about 10 times. The stock value is a reasonable level. Investors can consider the absorption at $3.85. The stock price is expected to be $4.30. If it falls below $3.50, it should be stopped.
Stimulated by the news, a number of "ethanol concept stocks" were spurred by the market. Among them, cassava resources (841) were heated by investors since Wednesday. They stopped trading after a 38% surge yesterday. The cumulative increase has doubled so far. Although dried cassava chips are one of the raw materials for ethanol, the raw materials for producing ethanol can also be corn, wheat and sugar cane. Therefore, the market is over-hyped for the cassava-related shares, which is a bit of a crown. In fact, China began to promote biofuels for food crops such as corn in the late 1990s. The ethanol gasoline policy was introduced and it is expected that corn will become one of the main raw materials for ethanol production.
The corn in the mainland has been harvested in recent years, and the stock of corn has remained high. The country’s corn stocks are as high as 250 million tons, and the inventory in the central and northeastern regions alone exceeds 100 million tons. Therefore, the use of ethanol gasoline for vehicles and the expansion of biofuel ethanol production are now promoted. Not only can we optimize the energy structure, improve the atmospheric environment, but also achieve the role of regulating the food market. According to the analysis, based on the consumption of 112 million tons of gasoline in the Mainland last year, even if all gasoline is replaced with ethanol gasoline, it will require about 11.2 million tons of ethanol per year, which is equivalent to about 33 million tons of corn. Therefore, only corn is consumed every year. About one-eighth of the inventory, there will be no food shortage.
When the national policy is introduced, it will naturally cause a round of fund speculation, but investors must pay attention to the correlation between their business and biofuels when buying relevant concept stocks. For individual stocks, investors can pay attention to China Grains and Oils (606). The Group's main products and businesses are oilseed processing, rice trade and processing, biofuels and biochemicals, beer raw materials and wheat processing. As of the end of June this year, benefiting from the rebound in oil and fat products and fuel ethanol prices, the Group's interim turnover was HK$44.43 billion, up 9.0% year-on-year. The results turned profitable and recorded a net profit of 1.06 billion yuan. Among them, biochemical and biofuel business accounted for 44.6% of the Group's segment profit. With the introduction of the state party, the promotion of the use of ethanol gasoline for vehicles is expected to have a positive impact on China's grain and oil performance. The Group's forecast P/E ratio is about 10 times. The stock value is a reasonable level. Investors can consider the absorption at $3.85. The stock price is expected to be $4.30. If it falls below $3.50, it should be stopped.
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