Hengli Petrochemical (600346) disclosed its third quarterly report for 2021 on the evening of October 27. The company achieved a cumulative operating income of 151.489 billion yuan in the first three quarters of 2021, a year-on-year increase of 46.60%, and achieved a net profit attributable to shareholders of the listed company of 127.12 billion yuan. billion, a year-on-year increase of 28.46%, and the net operating cash inflow was 19.489 billion yuan. The company’s revenue and profit scale have reached new highs, and the profit level in a single quarter has remained above 4 billion yuan, highlighting the company’s continued and stable profitability despite significant fluctuations in upstream raw materials.
Since the beginning of this year, benefiting from the rise in international oil prices and the recovery of market consumption, coupled with the stable supply of domestic petrochemical production capacity and the rebound in overseas demand, Prices and spreads of various major chemical products in my country have fluctuated at high levels, supporting the stability and growth of corporate profits. At the same time, the downstream chemical new materials market has also benefited from the push of raw material costs, terminal recovery, and the strong growth in consumption demand for new materials such as new energy, high-end manufacturing, and green environmental protection in my country. The market space and profitability of new materials have achieved significant growth and improvement.
At present, Hengli Petrochemical has formed the basic development advantages of an upstream “big chemical” platform built on “refining + ethylene + coalification”. The company has 20 million tons of crude oil and Starting from a processing capacity of 5 million tons of raw coal, the main output includes 4.5 million tons of PX, 1.2 million tons of pure benzene, 11.6 million tons of PTA, 1.8 million tons of fiber grade ethylene glycol, 850,000 tons of polypropylene, 720,000 tons of styrene, 400,000 tons of polyethylene, 140,000 tons of butadiene, 750,000 tons of methanol, 400,000 tons of acetic acid and 300,000 tons of pure hydrogen transport and reserve various upstream raw material products that are in short supply in the country for the development of the downstream chemical new material industry chain. It has the rare ability to develop a world-class petrochemical platform.
At the same time, relying on the strategic support of the large chemical industry platform and years of accumulation in the new materials business, Hengli Petrochemical continues to develop its efforts in the field of new chemical materials business. Recently, the company has invested a total of more than 24.2 billion yuan to start the construction of functional polyester film and functional plastic projects with an annual output of 800,000 tons, a PBS biodegradable plastic project with an annual output of 450,000 tons, and a 1.5 million tons/year green multi-functional new textile material. Project and 300,000 tons of adipic acid new chemical material supporting projects to further expand the downstream new material industry. At the same time, the company is accelerating the layout of lithium battery diaphragm, battery-grade DMC, ABS, PC and other new energy, new manufacturing and other material business fields, and efficiently and rapidly promotes the progress of various new material business and project construction at “constant speed”. </p
