Thin-film photovoltaic module is considered to be a breakthrough in solar technology, and is rapidly increasing its share in the solar power sector. The thin-film (TF) solar panels consist of solar cells with light absorbing layers, which are more than 350 times smaller than a standard silicon panel. They are considered to be the lightest PV cells, owing to their narrow design and efficient semiconductor built into the cells.

Construction, mining, and agriculture are the main industries that use heavy-duty tires for their machineries. The sales of heavy-duty tires are directly related to the sales and replacement of vehicles in the aforementioned industries. Machinery usage in farming has considerably grown over the years, in all parts of the world. The introduction of internal combustion engines and tractors as a power source has revolutionized the agriculture sector, by covering large agricultural areas in short time. Labor-saving technologies, like harvesters and tractors, are adopted to expand farm operations. Increased liberalization would radically reinforce a structural evolution, resulting in increased adoption of advanced agricultural machinery tools in the agricultural operations.

Disposable gloves are widely used in medical and nonmedical applications to prevent cross-infection between caregivers and patients. Moreover, they are utilized to inhibit accidental contact with harmful infectious sites or areas. Various types of materials are used in the manufacturing of disposable gloves, including natural rubber, nitrile, vinyl, neoprene, and others.

在海外轮胎集中涨价的背景下，布局海外产能的轮胎企业有望充分受益；国内轮胎行业洗牌进行中，长期看好国内龙头向上渗透，有望迈向全球第二梯队。重点推荐拥有海外产能布局的国内龙头玲珑轮胎、赛轮轮胎，建议关注三角轮胎。

2019 年一季度以来，轮胎企业业绩改善明显，我们判断轮胎行业利润出现反转，并有望延续全年。