The annual reports of the four major private chemical fiber companies were released. The net profits of two companies fell year-on-year, and the net profits of two companies hit a new high.
On the evening of April 19, Hengyi Petrochemical (000703.SZ) announced that the company achieved revenue of 86.43 billion yuan last year. , a year-on-year increase of 8.55%; net profit was 3.072 billion yuan, a year-on-year decrease of 3.7%.
Hengyi Petrochemical stated in its annual report that due to the spread of the new coronavirus epidemic, various regions around the world have successively adopted strict blockade and isolation measures, and terminal consumer demand continues to slump, and global crude oil prices The oil product cracking price gap has plummeted, the petrochemical downstream industry has been under-operated, inventories are high, prices are upside down, and global refineries as a whole have fallen into huge losses.
Hengyi Petrochemical said that under the above background, its Brunei refining and chemical project maintained high-load and stable operation throughout the year, and the overall production and operation remained stable.
According to data from the China Petroleum and Chemical Industry Federation, the operating income of the petroleum and chemical industry last year was 11.08 trillion yuan, a year-on-year decrease of 8.7%; the total profit was 515.55 billion yuan, a year-on-year decrease of 8.7%. down 13.5%.
Last year, the net profit of another private chemical fiber giant, Dongfang Shenghong (000301.SZ), also declined year-on-year. The company achieved revenue of 22.777 billion yuan last year, a year-on-year decrease of 8.48%; net profit was 316 million yuan, a year-on-year decrease of approximately 80%.
Dongfang Shenghong also said that the decline in performance was mainly due to the impact of the COVID-19 epidemic. The downstream demand for the chemical fiber and petrochemical industry has dropped significantly. Superimposed on the impact of violent fluctuations in oil prices, the industry’s prosperity has declined. Its products The price difference between prices and raw materials has narrowed, and profit margins have been compressed.
Unlike Hengyi Petrochemical and Dongfang Shenghong, Hengli Petrochemical (600346 .SH) and Rongsheng Petrochemical (002493.SZ) net profits hit a new high last year.
The financial report shows that Hengli Petrochemical achieved revenue of 152.373 billion yuan last year, a year-on-year increase of 51.19%; it achieved net profit of 13.462 billion yuan, a year-on-year increase of 34.28%. Revenue and net profit both hit record highs again.
Hengli Petrochemical said that its 1.5 million tons ethylene project, PTA-4 project, and PTA-5 project were put into operation last year, and the 20 million tons refining and chemical integration project increased production by five times compared with 2019. months, resulting in a substantial increase in trade volume.
PTA is one of the important bulk organic raw materials and can be widely used in chemical fiber, light industry, electronics, construction and other industries.
In May 2019, Hengli Petrochemical’s 20 million tons/year integrated refining and chemical project was put into operation. That year, Hengli Petrochemical’s revenue exceeded 100 billion, and its net profit increased by more than 20% year-on-year, setting the best annual performance in history.
Rongsheng Petrochemical’s net profit has achieved substantial growth. The company’s revenue last year was 107.265 billion yuan, a year-on-year increase of about 30%; its net profit was 7.309 billion yuan, a year-on-year increase of 231.17%, setting a record high.
Rongsheng Petrochemical said that the first phase of its 40 million tons refining and chemical integration project last year ushered in a production capacity release period. The first phase produced safely and stably throughout the year. At the same time, some parts of the second phase The device has also been put into operation, which has enhanced operating performance.
In recent years, the above-mentioned four major private chemical fiber companies have focused on polyester, expanded upstream and downstream, and invested in the construction of large-scale refining and chemical integration units to build a full industry chain structure. Improve profitability.
Currently, Hengyi Petrochemical has put into operation an 8-million-ton refining and chemical project in Brunei, Hengli Petrochemical has put into operation a 20-million-ton refining and chemical project, and Rongsheng Petrochemical has put into operation a 40-million-ton refining and chemical project. chemical project. Dongfang Shenghong’s 16 million tons refining and chemical project is expected to be put into operation by the end of this year.
As of 10:15 a.m. on April 20, Hengli Petrochemical’s share price was 30.33 yuan, up 0.7%; Rongsheng Petrochemical’s share price was 27.87 yuan, down 0.61%; Dongfang Sheng Hong’s stock price was 15.09 yuan, down 1.37%; Hengyi Petrochemical’s stock price was 12.78 yuan, down 2.59%. </p
