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Industry News | Time: Nov 7 2019 1:54PM
Performance of leading chemical fiber companies in Q1-Q3, 2019
 
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Entering November, many listed companies release the financial report during the first three quarters of 2019. How about the financial status of big chemical fiber enterprises? The following part will have a short analysis:

1. Big plants in Xiaoshan
A.Rongsheng:
The operating income of Rongsheng amounted to 59.66 billion Yuan in the first three quarter of 2019, and the net profit attributable to shareholders of the listed company was 1.846 billion Yuan.

Rongsheng is one of the listed companies with integrated industrial chain from crude oil, fuel oil, naphtha, aromatic, PTA, polyester, spinning and twisting. Zhejiang Petrochemical is held by Rongsheng, covering 40 million tons per year of refinery integrated project and 173 billion Yuan of investment. Zhejiang Petrochemical, Zhongjin Petrochemical, Yisheng Dalian and Shengyuan Chemical Fiber.

B. Hengyi
The operating income of Hengyi amounted to 62.2 billion Yuan in the first three quarter of 2019, and the net profit attributable to shareholders of the listed company was 2.2 billion Yuan.

Hengyi is devoted to become one of the leading petrochemical groups in China and around the world, with petrochemical and chemical fiber industry as the core business and gradually completing the “petrochemical+” multi-level industrial pattern.

Hengyi Industries Sdn Bhd has successfully started the first phase of oil refinery and petrochemical project with a crude oil refining capacity of eight million tonnes per year at Pulau Muara Besar (PMB), a 955-hectare industrial park on an island at the Brunei Bay. Hengyi will create unique “one drop of oil, and two pieces of filament” industrial pattern, namely a leading company in “PTA-polyester” and “CPL-nylon” integrated industrial chain.

2. Big plants in Shengze
A. Hengli  
The operating income of Hengli amounted to 76.329 billion Yuan in the first three quarter of 2019, and the net profit attributable to shareholders of the listed company was 6.817 billion Yuan.

20 million tons per year of refinery project of Hengli has started operation, and Hengli becomes the first integrated company from crude oil, PX, PTA to polyester in China, which is the unique company in China able to produce FDY 7D.

B. Shenghong
Shenghong was listed in 2018, and the net profit attributable to shareholders of listed company was estimated to 1.09-1.25 billion Yuan in Jan-Sep, 2019, up 40-60% compared with the same period of last year.

Shenghong is specialized in polyester filament yarn for textiles and adheres to the idea “not make repeated construction, not produce conventional description, and not adopt conventional technology”, devoted to produce the development and production of super-fine fiber and differential functional fiber.

The listed company has purchased Shenghong Refinery and Honggang Petrochemical, forming PTA-polyester business structure.

3. Major plants in Tongxiang
A. Xinfengming
The operating income of Xinfengming amounted to 16.33 billion Yuan in the first three quarter of 2019, and the net profit attributable to shareholders of the listed company was 0.588 billion Yuan.

Xinfengming is one the most professional PFY producers in China with capacity above 1 million tons, ranking the top three, which is active in extending capacity and business into upstream market.

B. Tongkun
The operating income of Tongkun totaled 37.24 billion Yuan in the first three quarter of 2019, and the net profit attributable to shareholders of the listed company was 2.45 billion Yuan. Tongkun has around 5.2 million tons of polymerization capacity and 5.7 million tons of PFY capacity, ranking top in terms of production and sales volume for consecutive 10 years in China and even in the world. Tongkun’s PFY accounted for more than 16% of market share in China and possessed around 11% in the world.
[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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