Inventory of 2023 performance forecast of key chemical enterprises
Source: China Chemical Information Weekly 
88,975 
February 7, 2024, 10:41 AM
With the advent of the Lunar New year, key chemical enterprises listed on the market have launched performance forecasts for 2023.
Enterprises whose profits are expected to grow
Chemical enterprises represented by satellite chemistry, on the one hand, lay out hot areas with good market prospects and high added value of products, such as new energy materials, and at the same time rely on the advantages of the industrial chain to maximize costs. The performance of such enterprises has been significantly improved in 2023.
1. Satellite chemistry
Satellite Chemistry is the world's leading manufacturer of acrylic acid and one of the few large-scale producers of acrylic acid and esters, polymer emulsions and functional polymer materials with the whole industry chain in China.
On January 22nd, Satellite Chemical released its 2023 performance forecast. In 2023, the net profit belonging to shareholders of listed companies was 46-5.2 billion yuan, an increase of 48.00%-67.31% over the same period last year, and 45.6-5.16 billion yuan after deducting non-recurrent profits and losses, an increase of 47.71%-67.14% over the same period last year.
The reason for the performance change: during the reporting period, the company accelerated the strategy of building a low-carbon chemical new material science and technology company with lightweight raw materials as the core, and built a scientific and technological innovation system in four areas: high-performance catalysts, new polymer materials, new energy materials, and process research and development. (polystyrene, ethanolamine, battery-grade DMC, electronic hydrogen peroxide and other devices have been put into production one after another. Continue to enhance the technological innovation advantage of the integration of the industrial chain.
2. Hengli Petrochemical
The company started in weaving and gradually developed into an international enterprise with the development of oil refining, petrochemical, polyester new materials and textile industry chain. Its main business covers petroleum refining and chemical industry, petrochemical, aromatics, PTA, civil polyester filament, industrial polyester filament, engineering plastics, polyester film, thermoelectricity and other industrial fields.
On the evening of January 29th, Hengli Petrochemical announced that for the whole of 2023, the net profit attributed to shareholders of listed companies is expected to be about 6.9 billion yuan, an increase of about 197.63% over the same period last year. After deducting non-recurrent profit and loss, the net profit was about 5.64 billion yuan, an increase of about 439.57% over the same period last year.
The reasons for the pre-increase in performance are as follows:
(1)。 The price fluctuation of crude oil has stabilized, the support of downstream demand has been strengthened, the equal price difference of the company's aromatics products has widened and the profit has improved.
(2)。 The coal price center is downward, and the company's unique competitive advantage of deep coupling of oil and coal and competitive advantage of perfect public supporting facilities are further highlighted.
(3)。 The scheduled production of the downstream new materials project will complete the strong chain repair chain of "the last kilometer" of Hengli Refinery, and the company's profitability will be repaired to a reasonable level in 2024.
3. Donghua Energy
The company started by doing LPG warehousing and trading business, and later shifted its business focus to PDH, polypropylene, hydrogen production and sales.
On the evening of January 29th, Donghua Energy disclosed its 2023 results forecast that in 2023, the net profit attributed to shareholders of listed companies is expected to be about 150-200 million yuan, an increase of 252.83% 370.44% compared with the same period last year. The net profit after deducting non-recurring profit and loss is about 1-140 million yuan, an increase of 403.68% muri 605.15% over the same period last year.
The reason for the change in performance shows that the performance has improved significantly compared with the same period last year, thanks to the effective control of the cost of raw material propane.
4. Hengyi Petrochemical
The company's main products include refined terephthalic acid (PTA), caprolactam (CPL), polyester (PET) chips, bottle chips and differential products such as polyester preoriented filament (POY), polyester drawn filament (FDY), polyester stretch filament (DTY), staple fiber and so on.
On the evening of January 31, Hengyi Petrochemical issued a performance forecast. The company expects that the net profit attributed to the shareholders of the listed company in 2023 is 3.95 ~ 415 million yuan, and the net profit after deducting non-recurrent profit and loss is 0.45 ~ 65 million yuan. It lost 1.08 billion yuan in the same period last year.
Explanation of the reasons for the performance change:
(1) the demand in the lower reaches of Southeast Asia continues to pick up, the oil price gap of finished products in Singapore market rebounds to stable, the supply and demand pattern of aromatics products such as PX and benzene is improving, and the product price gap increases compared with the same period last year.
(2) the terminal demand outside China continues to stabilize and improve, and the price differences of polyester fiber products are obviously repaired. At the same time, the costs of auxiliary materials, energy and logistics have decreased. The company continues to strengthen the technical transformation of polyester plate and enhance the proportion of differentiated products. The company's polyester products have achieved prosperity in production and marketing, the indicators have been stable and improved, and the profitability has been significantly improved.
Enterprises whose performance is expected to decline
The enterprises represented by Bohai Chemical are mainly affected by the sluggish market demand, which leads to the shrinking performance of the company and even changing from profit to loss.
1. Rongsheng Petrochemical
Rongsheng Petrochemical is mainly engaged in the production and sales of petrochemical and chemical fiber related products, and has laid out a complete industrial chain from refining, aromatics and olefins to downstream refined terephthalic acid (PTA), MEG and polyester (PET, bottle sheet, film) and polyester filament (POY, FDY, DTY).
On January 30, Rongsheng Petrochemical issued a performance forecast for 2023, saying that in 2023, the net profit belonging to shareholders of listed companies was 10-1.2 billion yuan, down 64.07%-70.06% compared with the same period last year; net profit after deducting non-recurring profits and losses was-400 million yuan-600 million yuan.
The reason for the performance change shows that in 2023, the slow recovery of the benefit of the petrochemical industry was caused by the sluggish market demand and geopolitical spillover after the epidemic.
2. Qi Xiang Tengda
The main products include methyl ethyl ketone, maleic anhydride, propylene, methyl methacrylate, nitrile latex, tert-butanol, isooctane, cis-butadiene, butadiene, MTBE, petroleum and chemical catalysts.
On the evening of January 30th, Qixiang Tengda issued a performance forecast that for the whole of 2023, the net profit attributed to shareholders of listed companies is expected to be-3.04-- 425 million yuan, a decrease of 148%-167% compared with the same period last year; net profit after deducting non-recurring profits and losses is-1.32-- 252 million yuan, a decrease of 123%-144% compared with the same period last year.
Performance change statement:
(1)。 The growth rate of demand in the tourism market has slowed down, the competition in the industry has intensified, the chemical industry is at the bottom of the cycle, the price of the company's main products has fallen by more than the purchase price of raw materials, and the gross profit of the product has decreased compared with the same period last year.
(2)。 Affected by foreign geopolitical conflicts, the demand for business in the region has shrunk, resulting in a decline in supply chain revenue and profits.
3. Blonde technology
The products of Golden hair Technology are mainly developed through independent innovation, covering seven categories of independent intellectual property products, such as modified plastics, environmentally friendly high-performance recycled plastics, completely biodegradable plastics, special engineering plastics, carbon fibers and composite materials, light hydrocarbon and hydrogen energy and medical and health polymer materials.
On the evening of January 29th, Golden hair Technology disclosed its annual performance forecast that the company expects to achieve a net profit of 254 million yuan to 380 million yuan belonging to shareholders of listed companies in 2023, a decrease of 80.92% to 87.25% compared with the same period last year; deducting non-net profit of 140 million yuan to 266 million yuan, a decrease of 80.16% to 89.56%.
The main reasons for the decline in company performance are as follows:
(1)。 The chemical industry is at the bottom of the cycle, the market is in the doldrums, and the company's green petrochemical plate production plant has been completed and put into production, the overall operating rate is lower than expected, and the raw material cost and operating cost are high.
(2)。 Due to the change of the market environment, the market development of the company's medical and health products is not as expected, and the gross profit of the product is lower than the same period last year.
4. Bohai Sea Chemistry & nbsp
The company implements petrochemical, magnetic card double main business plate operation, petrochemical business in Tianjin Bohai Petrochemical Co., Ltd., built China's first 600000 tons / year propane dehydrogenation plant.
According to the results announcement issued on January 26th, the company expects the net profit attributable to shareholders of listed companies to be-560 million yuan to-490 million yuan in 2023, compared with-38.2378 million yuan in the same period last year; the net profit attributed to shareholders of listed companies after deducting non-recurring profits and losses is-590 million yuan to-520 million yuan.
The main reasons for the expansion of performance losses are:
In 2023, downstream PP and other markets did not perform as well as in previous years, resulting in a decline in propylene demand. The mainstream price of propylene in Shandong market continued to decline, the gross profit margin of the company's propylene products dropped sharply, and the operating cost pressure of PDH plant increased sharply, resulting in a large loss.
The price of propane, the main raw material of propylene, continued to run high in 2023, which led to an increase in the production cost of propylene, narrowing the price difference between propane and propylene, and affecting profits.
5. Weiyuan shares
The company's main products include phenol, acetone, bisphenol A, polycarbonate, isopropanol and so on.
Weiyuan shares announced on the evening of January 25 that the company's net profit attributable to shareholders of listed companies is expected to be 90 million yuan to 10000 yuan in 2023, a decrease of 83.55% to 85.20% compared with the same period last year. The net profit after deducting non-recurring gains and losses belonging to shareholders of listed companies is expected to be 70 million yuan to 80 million yuan, a decrease of 84.64% to 86.56% compared with the same period last year.
The main reason for the pre-reduction of performance: affected by the changes in supply and demand in the macro-economy and chemical market, the sales prices of some of the company's products decreased compared with the same period last year, resulting in a decline in the company's operating performance compared with the same period last year.
6. Binhua shares
Founded in 1968, it has five business departments: chlor-alkali, petrochemical, new materials, new energy and special chemicals.
On the evening of January 29th, Binhua announced that the company's estimated net profit belonging to shareholders of listed companies in 2023 was 390 million yuan, down 66.87 percent from the same period last year, while the net profit belonging to shareholders of listed companies after deducting non-recurring profits and losses was 340 million yuan, down 70.17 percent from the same period last year.
The main reasons for the pre-reduction of performance: in 2023, the prices of the company's products such as propylene oxide, caustic soda, allyl chloride, epichlorohydrin and trichloroethylene decreased greatly compared with the same period last year due to the influence of weak downstream demand and increased production capacity. business income of major products decreased. Source: China Chemical Information Weekly
Enterprises whose profits are expected to grow
Chemical enterprises represented by satellite chemistry, on the one hand, lay out hot areas with good market prospects and high added value of products, such as new energy materials, and at the same time rely on the advantages of the industrial chain to maximize costs. The performance of such enterprises has been significantly improved in 2023.
1. Satellite chemistry
Satellite Chemistry is the world's leading manufacturer of acrylic acid and one of the few large-scale producers of acrylic acid and esters, polymer emulsions and functional polymer materials with the whole industry chain in China.
On January 22nd, Satellite Chemical released its 2023 performance forecast. In 2023, the net profit belonging to shareholders of listed companies was 46-5.2 billion yuan, an increase of 48.00%-67.31% over the same period last year, and 45.6-5.16 billion yuan after deducting non-recurrent profits and losses, an increase of 47.71%-67.14% over the same period last year.
The reason for the performance change: during the reporting period, the company accelerated the strategy of building a low-carbon chemical new material science and technology company with lightweight raw materials as the core, and built a scientific and technological innovation system in four areas: high-performance catalysts, new polymer materials, new energy materials, and process research and development. (polystyrene, ethanolamine, battery-grade DMC, electronic hydrogen peroxide and other devices have been put into production one after another. Continue to enhance the technological innovation advantage of the integration of the industrial chain.
2. Hengli Petrochemical
The company started in weaving and gradually developed into an international enterprise with the development of oil refining, petrochemical, polyester new materials and textile industry chain. Its main business covers petroleum refining and chemical industry, petrochemical, aromatics, PTA, civil polyester filament, industrial polyester filament, engineering plastics, polyester film, thermoelectricity and other industrial fields.
On the evening of January 29th, Hengli Petrochemical announced that for the whole of 2023, the net profit attributed to shareholders of listed companies is expected to be about 6.9 billion yuan, an increase of about 197.63% over the same period last year. After deducting non-recurrent profit and loss, the net profit was about 5.64 billion yuan, an increase of about 439.57% over the same period last year.
The reasons for the pre-increase in performance are as follows:
(1)。 The price fluctuation of crude oil has stabilized, the support of downstream demand has been strengthened, the equal price difference of the company's aromatics products has widened and the profit has improved.
(2)。 The coal price center is downward, and the company's unique competitive advantage of deep coupling of oil and coal and competitive advantage of perfect public supporting facilities are further highlighted.
(3)。 The scheduled production of the downstream new materials project will complete the strong chain repair chain of "the last kilometer" of Hengli Refinery, and the company's profitability will be repaired to a reasonable level in 2024.
3. Donghua Energy
The company started by doing LPG warehousing and trading business, and later shifted its business focus to PDH, polypropylene, hydrogen production and sales.
On the evening of January 29th, Donghua Energy disclosed its 2023 results forecast that in 2023, the net profit attributed to shareholders of listed companies is expected to be about 150-200 million yuan, an increase of 252.83% 370.44% compared with the same period last year. The net profit after deducting non-recurring profit and loss is about 1-140 million yuan, an increase of 403.68% muri 605.15% over the same period last year.
The reason for the change in performance shows that the performance has improved significantly compared with the same period last year, thanks to the effective control of the cost of raw material propane.
4. Hengyi Petrochemical
The company's main products include refined terephthalic acid (PTA), caprolactam (CPL), polyester (PET) chips, bottle chips and differential products such as polyester preoriented filament (POY), polyester drawn filament (FDY), polyester stretch filament (DTY), staple fiber and so on.
On the evening of January 31, Hengyi Petrochemical issued a performance forecast. The company expects that the net profit attributed to the shareholders of the listed company in 2023 is 3.95 ~ 415 million yuan, and the net profit after deducting non-recurrent profit and loss is 0.45 ~ 65 million yuan. It lost 1.08 billion yuan in the same period last year.
Explanation of the reasons for the performance change:
(1) the demand in the lower reaches of Southeast Asia continues to pick up, the oil price gap of finished products in Singapore market rebounds to stable, the supply and demand pattern of aromatics products such as PX and benzene is improving, and the product price gap increases compared with the same period last year.
(2) the terminal demand outside China continues to stabilize and improve, and the price differences of polyester fiber products are obviously repaired. At the same time, the costs of auxiliary materials, energy and logistics have decreased. The company continues to strengthen the technical transformation of polyester plate and enhance the proportion of differentiated products. The company's polyester products have achieved prosperity in production and marketing, the indicators have been stable and improved, and the profitability has been significantly improved.
Enterprises whose performance is expected to decline
The enterprises represented by Bohai Chemical are mainly affected by the sluggish market demand, which leads to the shrinking performance of the company and even changing from profit to loss.
1. Rongsheng Petrochemical
Rongsheng Petrochemical is mainly engaged in the production and sales of petrochemical and chemical fiber related products, and has laid out a complete industrial chain from refining, aromatics and olefins to downstream refined terephthalic acid (PTA), MEG and polyester (PET, bottle sheet, film) and polyester filament (POY, FDY, DTY).
On January 30, Rongsheng Petrochemical issued a performance forecast for 2023, saying that in 2023, the net profit belonging to shareholders of listed companies was 10-1.2 billion yuan, down 64.07%-70.06% compared with the same period last year; net profit after deducting non-recurring profits and losses was-400 million yuan-600 million yuan.
The reason for the performance change shows that in 2023, the slow recovery of the benefit of the petrochemical industry was caused by the sluggish market demand and geopolitical spillover after the epidemic.
2. Qi Xiang Tengda
The main products include methyl ethyl ketone, maleic anhydride, propylene, methyl methacrylate, nitrile latex, tert-butanol, isooctane, cis-butadiene, butadiene, MTBE, petroleum and chemical catalysts.
On the evening of January 30th, Qixiang Tengda issued a performance forecast that for the whole of 2023, the net profit attributed to shareholders of listed companies is expected to be-3.04-- 425 million yuan, a decrease of 148%-167% compared with the same period last year; net profit after deducting non-recurring profits and losses is-1.32-- 252 million yuan, a decrease of 123%-144% compared with the same period last year.
Performance change statement:
(1)。 The growth rate of demand in the tourism market has slowed down, the competition in the industry has intensified, the chemical industry is at the bottom of the cycle, the price of the company's main products has fallen by more than the purchase price of raw materials, and the gross profit of the product has decreased compared with the same period last year.
(2)。 Affected by foreign geopolitical conflicts, the demand for business in the region has shrunk, resulting in a decline in supply chain revenue and profits.
3. Blonde technology
The products of Golden hair Technology are mainly developed through independent innovation, covering seven categories of independent intellectual property products, such as modified plastics, environmentally friendly high-performance recycled plastics, completely biodegradable plastics, special engineering plastics, carbon fibers and composite materials, light hydrocarbon and hydrogen energy and medical and health polymer materials.
On the evening of January 29th, Golden hair Technology disclosed its annual performance forecast that the company expects to achieve a net profit of 254 million yuan to 380 million yuan belonging to shareholders of listed companies in 2023, a decrease of 80.92% to 87.25% compared with the same period last year; deducting non-net profit of 140 million yuan to 266 million yuan, a decrease of 80.16% to 89.56%.
The main reasons for the decline in company performance are as follows:
(1)。 The chemical industry is at the bottom of the cycle, the market is in the doldrums, and the company's green petrochemical plate production plant has been completed and put into production, the overall operating rate is lower than expected, and the raw material cost and operating cost are high.
(2)。 Due to the change of the market environment, the market development of the company's medical and health products is not as expected, and the gross profit of the product is lower than the same period last year.
4. Bohai Sea Chemistry & nbsp
The company implements petrochemical, magnetic card double main business plate operation, petrochemical business in Tianjin Bohai Petrochemical Co., Ltd., built China's first 600000 tons / year propane dehydrogenation plant.
According to the results announcement issued on January 26th, the company expects the net profit attributable to shareholders of listed companies to be-560 million yuan to-490 million yuan in 2023, compared with-38.2378 million yuan in the same period last year; the net profit attributed to shareholders of listed companies after deducting non-recurring profits and losses is-590 million yuan to-520 million yuan.
The main reasons for the expansion of performance losses are:
In 2023, downstream PP and other markets did not perform as well as in previous years, resulting in a decline in propylene demand. The mainstream price of propylene in Shandong market continued to decline, the gross profit margin of the company's propylene products dropped sharply, and the operating cost pressure of PDH plant increased sharply, resulting in a large loss.
The price of propane, the main raw material of propylene, continued to run high in 2023, which led to an increase in the production cost of propylene, narrowing the price difference between propane and propylene, and affecting profits.
5. Weiyuan shares
The company's main products include phenol, acetone, bisphenol A, polycarbonate, isopropanol and so on.
Weiyuan shares announced on the evening of January 25 that the company's net profit attributable to shareholders of listed companies is expected to be 90 million yuan to 10000 yuan in 2023, a decrease of 83.55% to 85.20% compared with the same period last year. The net profit after deducting non-recurring gains and losses belonging to shareholders of listed companies is expected to be 70 million yuan to 80 million yuan, a decrease of 84.64% to 86.56% compared with the same period last year.
The main reason for the pre-reduction of performance: affected by the changes in supply and demand in the macro-economy and chemical market, the sales prices of some of the company's products decreased compared with the same period last year, resulting in a decline in the company's operating performance compared with the same period last year.
6. Binhua shares
Founded in 1968, it has five business departments: chlor-alkali, petrochemical, new materials, new energy and special chemicals.
On the evening of January 29th, Binhua announced that the company's estimated net profit belonging to shareholders of listed companies in 2023 was 390 million yuan, down 66.87 percent from the same period last year, while the net profit belonging to shareholders of listed companies after deducting non-recurring profits and losses was 340 million yuan, down 70.17 percent from the same period last year.
The main reasons for the pre-reduction of performance: in 2023, the prices of the company's products such as propylene oxide, caustic soda, allyl chloride, epichlorohydrin and trichloroethylene decreased greatly compared with the same period last year due to the influence of weak downstream demand and increased production capacity. business income of major products decreased. Source: China Chemical Information Weekly