Carbon prepregs are widely used in making high-strength composite structures. This can be used in varied products, ranging from an automotive component to the body of an aircraft. Among the various end-user industries, one of the attractive applications is manufacturing the components of a wind turbine. While the world has been harvesting energy from wind for several decades, the growing environmental concerns have driven the deployment of renewables, globally, in the last few years. The usage of wind power has become a noticeable contributor to the world’s energy mix. The exponential growth in the wind energy market is supported by depleting fossil fuel reserves, declining cost of wind power generation, growing sensitivity toward environmental issues, and support fromvarious governments around the world through financial incentives. The global wind power installations increased, from 14.86 GW in 2006 to 591 GW in 2018. The overall growth of the number of turbine installations during 2006-2018 was primarily driven by declining costs. This was due to the improved materials and design, and favorable government policies for wind power in major countries using wind energy, such as China, the United States, Denmark, Germany, the United Kingdom, and India.

全球烯烃进入新一轮扩产周期，2019 年乙烯盈利降至上轮周期底部水平，我国乙烯高需求缺口及煤化工高成本边际产能，有望支撑石脑油路线盈利；我国丙烯多元化路线发展，行业连续两年两位数产能增速，供需压力增加。推荐民营炼化龙头恒力石化、桐昆股份，轻烃裂解龙头卫星石化，及低估值高股息中国石化、上海石化（H）等。

2020 年1 月以来新冠病毒疫情发生叠加沙特俄罗斯打响价格战，供给需求的双重利空致使油价跌至历史底部。但目前以G20 体系为框架的减产行动已经启动，库存和库容压力有所减缓，随着5 月份OPEC+开始执行减产协议，和疫情逐步得到控制，原油市场迎来双重拐点。但是这轮油价反转我们认为不会是V 型反转，更多的可能是U 型或者W 型反弹。