其产品包括聚烯烃，包括聚乙烯和聚丙烯，以及烯烃，包括乙烯和丙烯以及其他衍生物，例如丁二烯，TBA（叔丁基醇），苯和甲苯。
该公司的报告分部是烯烃和衍生产品以及聚烯烃产品。
该公司在地理上分布于马来西亚，印度尼西亚，中国（包括香港），东南亚，东北亚，印度次大陆等其他地区。
Lotte Chemical Titan 的產品，相信很多人都不是十分了解。
從介紹來看，是化工產品。
相關產品介紹可瀏覽：
https://baike.baidu.com/item/%E8%81%9A%E7%83%AF%E7%83%83
這類行業在價值鏈不屬於槓桿地位。
它是生產應用材料，這類公司，不能對原料提供者議價錢。
它也不是面對消費群眾而是企業。
因為其競爭力取決於技術、成本和規模，以及競爭環境狀況，這樣才能對客戶議價。
我們看以下它的財務表現。
從 Lotte Chemical Titan 過去６年表現，明顯令人失望。
作為一個景氣循環股票，它最好的時期是２０１５－２０１６年。
之後就一路下滑。
低利潤率，顯示它競爭優勢並不突出，只能靠規模和管理維持。
Lotte Chemical Titan 本身流動性充裕，但缺點是資本開支略大了一些。
我們看 Lotte Chemical Titan 幾年股價走勢，從最高４．６０跌到２．１０。
就實際上，Lotte Chemical Titan 的業績下跌並不是應為營業額真下跌很多，而是銷售成本侵蝕了利潤。
所以，我們就要知道聚烯烃生產所需原料是什麼？
我本人不是真懂聚烯烃，估計它主要原料是石油。
所以把 Lotte Chemical Titan 和油價對比，如下圖：
從圖表看，油價高企似乎對 Lotte Chemical Titan 股價產生抑制作用。
當然，我可能搞錯聚烯烃的生產所需原料，如果你知道，你也可以用同樣法則，把原料價格對比 Lotte Chemical Titan 股價，看二者走勢是否背離？
總之，只要聚烯烃的生產所需原料維持高位， Lotte Chemical Titan 的 ROE，估計很難回到２０１５－２０１６年水平。
以我對經濟週期的理解，只有等黃金和石油價格產生泡沫時，你才能考慮逆向投資，買進一些 Lotte Chemical Titan。
在此之前，買 Lotte Chemical Titan 比較危險。
雖然它還是能在某些時間大漲（如２０２０年三月至截筆至今）。
但大趨勢看，它股價會受到長期抑制，至到原料成本這座大山不再上升為止，才會結束。
这一套三本投资书胜过你看外面20本，不會东说一点，西说一点，而是把精华整理归纳，以Step by Step方法铺陈，化繁為簡，全面講解投資分析法。
股票基本面分析的《股票真智慧》、技术面的《图表趋势秘密》和经济分析的《经济周期投资》。
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