The Huaan Securities Research Report pointed out that Satellite Chemical's performance continued to increase in the first three quarters, and the cost advantage was remarkable in the context of high oil prices. Earnings in a single quarter declined month-on-month, the spread narrowed in July-August, and improved significantly in September. As a leading light hydrocarbon integration enterprise, the company has a significant cost advantage compared to mainstream naphtha cracking routes under high fluctuations in crude oil prices. As the construction of new projects at various bases progresses steadily, the high-end new material product matrix has been increased. Subsequent emulsion, EAA projects, SAP, aromatics joint treatment projects, and α-olefin and PoE projects will be put into operation one after another to provide project support for medium- to long-term growth. The company is expected to achieve net profit of 115.27, 122.09, and 13.611 billion yuan respectively in 2026-2028, with year-on-year increases of 117.1%, 5.9%, and 11.5%. Corresponding PE is 7, 7, and 6 times, respectively, maintaining a “buy” rating.

The Huaan Securities Research Report pointed out that Satellite Chemical's performance continued to increase in the first three quarters, and the cost advantage was remarkable in the context of high oil prices. Earnings in a single quarter declined month-on-month, the spread narrowed in July-August, and improved significantly in September. As a leading light hydrocarbon integration enterprise, the company has a significant cost advantage compared to mainstream naphtha cracking routes under high fluctuations in crude oil prices. As the construction of new projects at various bases progresses steadily, the high-end new material product matrix has been increased. Subsequent emulsion, EAA projects, SAP, aromatics joint treatment projects, and α-olefin and PoE projects will be put into operation one after another to provide project support for medium- to long-term growth. The company is expected to achieve net profit of 115.27, 122.09, and 13.611 billion yuan respectively in 2026-2028, with year-on-year increases of 117.1%, 5.9%, and 11.5%. Corresponding PE is 7, 7, and 6 times, respectively, maintaining a “buy” rating.