TacticScaleWhat Satellite Chemical (卫星化学) Does & How It Makes Money (002648.SZ)
Updated October 2026 · reflects Satellite Chemical's latest reported financials
Chinese low-carbon chemical maker of ethylene and acrylic-based materials. It earns revenue by producing and selling commodity and specialty chemicals, polymers and functional materials in bulk to industrial customers in China and overseas.
How Satellite Chemical makes money
It earns revenue by producing and selling commodity and specialty chemicals, polymers and functional materials in bulk to industrial customers in China and overseas.
What Satellite Chemical does
Satellite Chemical Co.,Ltd. describes itself as a low-carbon chemical company. Founded in 1992 and based in Jiaxing, China, it researches, develops, produces and sells chemicals and functional materials. Its products fall into two main groups. The ethylene group includes ethylene oxide, high density polyethylene, ethylene glycol and polycarboxylic monomers. The acrylic group includes acrylic acid monomer, super absorbent polymer, polymer emulsions and resins. It also makes polypropylene, pigment intermediates and hydrogen peroxide. The company sells in China and internationally, and its materials are used in aerospace, new energy vehicles, electronic chips, green infrastructure and healthcare. It was formerly called Zhejiang Satellite Petrochemical Co., Ltd. and took its current name in October 2021.
Products & services
- High density polyethylene (HDPE)
- Ethylene oxide and ethylene glycol
- Acrylic acid monomer
- Super absorbent polymer (SAP)
- Polypropylene
- Hydrogen peroxide
卫星化学是做什么的？
卫星化学股份有限公司自称是一家低碳化工企业，1992年成立，总部位于浙江嘉兴，业务包括化学品和功能材料的研发、生产、销售及服务。产品主要分为两大类：乙烯类产品，包括环氧乙烷、高密度聚乙烯、乙二醇和聚羧酸单体；丙烯酸类产品，包括丙烯酸单体、高吸水性树脂、高分子乳液和树脂。公司还生产聚丙烯、颜料中间体和双氧水。 公司产品在国内外销售，被用于航空航天、新能源汽车、电子芯片、绿色基建和医疗健康等领域。公司原名浙江卫星石化股份有限公司，2021年10月更名为卫星化学股份有限公司。
What is Satellite Chemical worth?
On an owner-earnings DCF, Satellite Chemical's most-likely value is about ¥35 versus a recent price near ¥27 (23% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥17) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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