Home Business Hengli Petrochemical’s net profit in 2021 is 15.531 billion yuan to accelerate the layout of downstream new materials jqknews

Hengli Petrochemical’s net profit in 2021 is 15.531 billion yuan to accelerate the layout of downstream new materials jqknews

by admin


Our reporter Li Yong

  Operating income197.970 billion yuan, a year-on-year increase of 29.92%;net profit15.531 billion yuan, a year-on-year increase of 15.37%. On the evening of April 6, a large private refining and chemical enterpriseHengli PetrochemicalDisclosure of 2021 annual operationsperformance, both revenue and profit scale reached new highs, once again showing excellent profitability. The annual report shows that the company is actively developing the downstream chemical new material business and is committed to creating a secondary growth curve.

In addition, the company also disclosed the annual profit distribution plan, and plans to distribute cash in totalDividend7.021 billion yuan, accounting for 45.20% of the company’s annual net profit, 1.01 yuan per share was distributed, and the scale of dividends also hit a record high in the company’s history.

  Revenue and net profit have grown rapidly for six consecutive years

2021,Hengli PetrochemicalRevenue and net profit recorded considerable positive growth again, which is also the sixth consecutive year that the company has achieved a relatively substantial increase since the company’s backdoor listing.

Publicly disclosed data show that since 2016, by the end of 2021,Hengli PetrochemicalOperating income increased from 19.240 billion yuan to 197.970 billion yuan, and net profit attributable to the parent increased from 1.18 billion yuan to 15.531 billion yuan.

“Upstream, the prices of crude oil, coal and other bulk raw materials fluctuate greatly. Downstream, the consumption of the terminal market is affected by the epidemic, and the recovery is weak. The entire industry is under great pressure.” Some market participants, who did not want to be named, believe that the severe external situation The performance achieved by Hengli Petrochemical not only shows the company’s excellent operational capabilities, but also reflects the strong advantages of integrated operations.

Regarding the rapid growth in revenue scale and operating performance of private refining and chemical companies, including Hengli Petrochemical, IPG China Chief Economist Bo Wenxi believes that on the one hand, it is the growth brought about by the overall industry demand, The rapid extension of the downstream industry chain and the diversification of related industries have also greatly increased the demand and performance contribution to its own refining and chemical products.Bai Wenxi believes that the integrated operation of refining and chemical enterprises, because of the cross-subsidy and cost transfer sharing mechanism within the industrial chain, allows them to have a stronger resistance tooil priceThe ability to fluctuate and resist industry cycles also has more development potential.

Hengli Petrochemical also stated in its annual report that the company gave full play to the technological leadership and system coupling advantages of refining, ethylene and supporting coal chemical plants, continued to optimize the operation of the plant, and timely combined the fluctuation of raw materials and the trend of market demand to achieve “appropriate”. Oil is oil, alkene is ene, and fragrant is fragrant”, to maximize the benefits of the company’s product portfolio, with significant synergies, and to achieve balanced production and sales of various leading products, smooth operation and stable profitability.

“In 2021, the industry as a whole will show the characteristics of highs and lows. In the first half of the year, it benefited from the rise in international oil prices and the recovery of market consumption, which supported the stable growth of corporate profits. Issues such as tightening of constraints have emerged, and market volatility and downward pressure have increased.” The relevant person in charge of Hengli Petrochemical told “securitiesDaily reporter, “Upstream refining and ethylene businesses have become the cornerstone of the company’s profitability, and the proportion of downstream new chemical materials is also increasing year by year, including differentiated polyester yarns, functional films, new engineering plastics and biodegradable new materials, etc. The high R&D attribute material business is accelerating to become the company’s new profit growth point. The company fully utilizes the profit capture capability of the whole industry chain’s anti-risk and flexible operation, and the joint efforts of ‘refining + ethylene + new materials’ have achieved a full year Steady growth in operating performance.”

  Accelerate the layout of downstream new materials

It is worth noting that, after advancing into the upstream refining and chemical business and taking the lead in opening up the entire industrial chain, Hengli Petrochemical has also actively refined and broadened the downstream of the industrial chain, aiming at the problems brought about by the rapid development of “new consumption” and “hard technology”. Market demand for “stuck neck” and “shortage” high-end chemical materials.

Publicly disclosed information shows that in the past 2021,company investment30 billion yuan to start construction, including an annual output of 800,000 tons of functional polyester film and functional plastic projects, 450,000 tons of PBS biodegradable plastic projects, 1.5 million tons/year of green multi-functional textile new material projects, 300,000 tons of hexamethylene Acid chemical new material supporting project and 1.6 billion square meters lithium battery diaphragm project. At the beginning of this year, Hengli Petrochemical disclosed that it would invest 24 billion yuan to build a high-performance resin and new material project with an annual output of 1.6 million tons and a high-performance polyester project with an annual output of 2.6 million tons. At the same time, major projects such as the second phase of the company’s fine chemical park, with an annual output of 600,000 tons of BDO and an annual output of 100,000 tons of succinic acid, are also in the process of accelerating planning and approval.

“Under the global consensus on carbon reduction and emission reduction goals, the increase in refining capacity will be limited in the future, and with the development of society and economy, the demand for high-end chemicals will continue to grow.” The aforementioned market source told reporters that private refining and chemical enterprises have started The new round of transformation and the active deployment of downstream new energy and new material projects have become the general trend.

Bai Wenxi believes that after the realization of upstream and downstream integration of the entire industrial chain, private refining and chemical companies have deployed downstream fine chemicals. The industry’s ability to fluctuate can promote its own rapid development.

“After years of development, Hengli Petrochemical has built a powerful large chemical platform. The company has accelerated the deployment of downstream high-end new materials, so that the abundant upstream chemical raw material library can be fully utilized. At the same time, the output of upstream oil and coal-based raw materials will be high in the downstream. Value-added products continue to empower.”Everbright Securitiesin aResearch reportZhong said that under the background of ‘carbon neutrality’, Hengli Petrochemical is in the stage of accelerating its extension to downstream high value-added fields. It is believed that Hengli Petrochemical, as the leader of private large-scale refining and chemical industry, the perfect layout of the downstream industry chain will also bring considerable increase in performance and reduce the volatility of performance, and it will still have high growth in the future.

(Article Source:securitiesDaily Network)

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