Jiangsu Sanfangxiang Co., Ltd. (hereinafter referred to as “Sanfangxiang”), the largest bottle-grade polyester chip manufacturer in China and Asia, recently announced that in order to further improve production efficiency, reduce PTA production costs, and reduce emissions, the company Jiangsu Hailun Petrochemical Co., Ltd. (hereinafter referred to as “Hailun Petrochemical”), a wholly-owned subsidiary, shut down its first-phase PTA production unit on June 5 to carry out energy-saving and emission-reducing technical renovations.
In order to shorten the shutdown time and improve work efficiency, Hailun Petrochemical carried out routine maintenance of the production equipment while shutting down for technical transformation to ensure the safe and smooth operation of the production equipment. It is estimated that the energy-saving and emission-reduction technical transformation and routine maintenance and shutdown time will be about 3 months.
The energy-saving and emission-reducing technical renovation and routine maintenance shutdown of the first-phase PTA production unit of Hailun Petrochemical were carried out based on the progress of the technical renovation project and the operation of the device. This shutdown The production and sales of Hailun Petrochemical PTA will be reduced. The company has already prepared some stocks in advance. Bottle-grade polyester chips are produced and sold normally, which will not have a major impact on the company’s operations.
The financial report shows that as of December 31, 2020, the operating income of the parent company of Hailun Petrochemical in 2020 was 9.628 billion yuan, accounting for 38.10 of the operating income of listed companies (before mergers and eliminations). %, with a total profit of 244 million yuan, accounting for 30.96% of the total consolidated profits of listed companies.
Public information shows that Sanfangxiang was established in 1980. The company’s annual production scale of bottle-grade polyester chips is about 2 million tons, and it is currently one of the largest manufacturers in China and Asia. , the company’s PTA products have been used for a long time, extensively, and in large proportions in different downstream devices such as polyester staple fiber, polyester filament, bottle-grade polyester chips, and films.
The financial report shows that in 2020, Sanfangxiang achieved operating income of 16.3 billion, a year-on-year decrease of 26.2%; net profit attributable to the parent company was 560 million, a year-on-year decrease of 27.7%; in the first quarter of 2021 , Sanfangxiang achieved operating income of 4.141 billion yuan, a year-on-year decrease of 1.56%; net profit was approximately 158 million yuan, a year-on-year increase of 949.13%. </p
