The prosperity of the chemical fiber industry has increased since this year, and the first quarter performance achieved a “good start”. It is understood that from January to March 2021, the production of the chemical fiber industry maintained rapid growth, with chemical fiber output reaching 15.8 million tons, a year-on-year increase of 27.1%. Among them, polyester output was 12.52 million tons, a year-on-year increase of 29.7%; nylon output was 1.12 million tons, a year-on-year increase of 17.2%; viscose staple fiber output was 1.05 million tons, a year-on-year increase of 22.9%.
Among them, the efficiency of the chemical fiber industry has continued to rebound from January to March 2021. Chemical fiber enterprises above designated size achieved operating income of 215.3 billion yuan, a year-on-year increase of 48.5%; total profits were 13.7 billion yuan, a year-on-year increase of 688.5%; operating income profit margin was 6.34%, an increase of 3.04 percentage points from the end of 2020.
The profitability of polyester filament companies has soared
Leading chemical fiber companies are doing well o:p>
In recent years, the chemical fiber industry, especially large listed companies, have made good use of complete production layout and precise pricing strategies to firmly control the price. rights to achieve doubling of profits and doubling of output. After the Spring Festival, the overall profit level of domestic polyester products began to rise steadily. Especially after March, the profits of polyester companies soared. The profits of the entire industry chain were concentrated in the polyester link, especially the profits of polyester filament products were as high as more than 1,000 yuan.
It is understood that the profitability of the polyester filament industry chain rose sharply in the first quarter. After the Spring Festival in 2021, the domestic polyester market began to rise sharply, and the market growth rate was much higher than the growth rate of the raw material market. Therefore, the profits of polyester products have steadily rebounded. Although the market for polyester raw materials PTA and ethylene glycol began to weaken after March, the pressure on polyester production costs eased, and the polyester market showed strong resilience. Therefore, starting from the beginning of March, the profitability of polyester product production improved significantly. , especially the profits of polyester products are as high as more than 1,000 yuan, and the profits of the entire polyester industry chain have been concentrated on polyester products.
At the same time, many leading polyester listed companies have performed well. Among the 26 listed companies that disclosed their first quarter reports this year, 20 companies saw a year-on-year increase in net profit, 17 of which had an increase of more than 100%; 4 companies turned losses into profits year-on-year; only 2 companies suffered losses. Suzhou Longjie, Hengtian Hailong, Youcai Resources, and Xinfengming ranked among the top four in net profit growth, reaching 4339.77%, 2221.07%, 1060.63%, and 749.93% respectively.
Benefiting from the cyclicality of the industry, chemical fiber companies rely on the volume of their main products Prices rose together, driving a surge in performance.
In terms of polyester filament, the leading enterprise Xinfengming announced on April 26 The first quarter report for 2021 was released after the market closed. In the first three months of this year, the company achieved operating income of 10.817 billion yuan, a year-on-year increase of 113.57%; the net profit attributable to shareholders of listed companies was 497 million yuan, a year-on-year increase of 749.93%. The company’s main products are polyester filament and polyester staple fiber. The average price of filament in the first quarter of this year increased by 22% compared with the fourth quarter of last year, and its profitability is considerable.
In addition, there are many listed companies with advantages in the entire oil refining-chemical fiber industry chain” “Money” is a great prospect. Rongsheng Petrochemical disclosed its first quarter report. In the first three months of this year, the company achieved operating income of 34.581 billion yuan, a year-on-year increase of 64.26%; net profit attributable to shareholders of listed companies was 2.622 billion yuan, a year-on-year increase of 113.86%. Hengli Petrochemical achieved operating income of 53.23 billion yuan in the first quarter, a year-on-year increase of 78.8%; net profit attributable to the parent company was 4.11 billion yuan, a year-on-year increase of 91.8%. Oriental Shenghong expects to achieve a net profit attributable to shareholders of listed companies of 500 million to 660 million yuan in the first three months of this year, an increase of 153.79% to 235% over the same period last year.
Statistics on supporting upstream equipment of major listed companies in the polyester industry;
At present, domestic leading polyester companies are mostly supporting upstream raw materials to achieve the industrial structure of “one drop of oil, two threads”. They have laid out “large-scale equipment” in the entire industrial chain of new polyester materials in the upper, middle and lower reaches. , large-scale production capacity, structural integration, advanced technology, green environmental protection, and complete supporting facilities” to achieve a unique balance of the entire industry chain from large-scale refining to PX, PTA, and polyester (PET) production capacity. Coordinated development and integrated development improve the company’s comprehensive operational advantages, strengthen profitability, and also enhance the ability to withstand the risks of operational fluctuations.
Everyone says that it is particularly difficult to make money this year, but they are quietly making a fortune! On one side is the upstream chemical fiber leader “Huo Huo Huo” whose profits have soared and there is endless money, and on the other side is the “Liang Liang Liang” who is struggling to support the downstream enterprises but cannot raise prices and cannot get orders. It is a spectacle that is incomprehensible. Impenetrable strategies coexist in this special market!
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