As of July 19, a total of more than 130 chemical listed companies issued this year's semi-annual performance forecast. According to the statistics of the reporter, the total net profit estimated by these companies exceeds 6 billion yuan. Among them, there are about 100 expected growth, about 20 of which have increased their net profits by more than 100%, and more than 20 of which are expected to decline, of which 4 are losses.

This can be said to be the first "mid-term exam" transcript of the "12th Five-Year Plan" period in the chemical industry. From this report card, more than 70% of companies have achieved growth in performance, which is a source of gratification. However, such achievements are achieved according to the "12th Five-Year Plan" development ideas, or continue the "Eleventh Five-Year" development ideas? It is worth analyzing.

The price increase of products is mainly due to the fact that the profitability of listed companies in various chemical companies is different. There are many factors in the increase in corporate profits.

First, product prices rose.

Since the beginning of this year, a variety of chemical products have continued to increase prices, resulting in a number of listed companies benefiting from it.

The continued rise in the price of titanium dioxide has led to a significant increase in the performance of the industry giant Anhui Ananda Titanium Co., Ltd. On June 3, the company revised its first-half results from 60% to 110% in advance, to a pre-increase of 150% to 200%. The company stated that due to the combined effect of rising costs and increased demand, the company’s main product sales price has increased significantly compared with the previous year. It is understood that this year, the domestic titanium dioxide prices rose sharply, just in the first quarter of this year, the average price of titanium dioxide rose up to about 35%.

On July 6th, Zhejiang Juhua Co., Ltd. issued a performance correction notice to increase the company’s net profit in the first half of the year from the previous 200% to 500% to 550% due to the company’s average price of major products and CDM revenue in the second quarter. beyond expectation.

The performance forecast issued by Jiangsu Huaxi Village Co., Ltd. shows that the company’s net profit in the first half of the year increased by 200% to 250%, due to the fact that the sales price of main staple polyester staple fiber remained at a relatively high level.

Companies benefiting from higher product prices are Shanghai Chlor-Alkali Chemical Co., Ltd. The company’s first-half net profit is expected to increase by 180% from the same period of last year, mainly due to the increase in the price of PVC products.

The high price of soda ash also made the soda ash listed companies such as Qingdao Soda Co., Ltd. once again increase its pre-increase rate.

Second, get policy support.

The reporter found that in the first half of the year, the company's profits have increased significantly because many of its main products are emerging products supported by the state.

As of the time of this press release, the largest chemical company listed in the first half of this year was Shanghai San Aifu New Material Co., Ltd.

The company's performance forecast shows that it expects to achieve a net profit of approximately RMB686 million in the first half of the year, up 1026% from the same period last year. The key to the significant growth of the company's performance is that the company's main products are supported by national policies. Benefited from the impact of the national subsidy policy for home appliances to the countryside, in the first half of 2011, the company’s main product sales of fluorocarbon carbide substitutes continued to grow; thanks to the state’s assistance to emerging industries such as new energy batteries, the company’s The market demand for a series of products including polyvinylidene fluoride resin has steadily increased.

Shenzhen New Choubang Technology Co., Ltd. is a company that produces new chemical materials. The company achieved a net profit of 24,221,100 yuan in the first quarter alone, an increase of 97.85% over the same period last year. The reason for the growth of the company's performance lies in the fact that the products of solid-state polymer capacitor chemicals and super-capacitor electrolytes have maintained a good momentum of development and the production and sales volume has grown significantly, which is also due to the country's active support for the development strategy of new energy vehicles.

Third, actively reduce costs and increase efficiency.

Actively controlling costs and adjusting the structure are also important factors for the increase in the profitability of some chemical listed companies.

The net profit of Liaoning Aoke Chemical Co., Ltd. increased by 80% to 100% in the first half of the year and reached RMB 109 million to 122 million. The company said that the main reason is that companies actively take measures to reduce costs and increase efficiency, strengthen the research and development of new technologies and new formulations, and expand the profitability of products.

An announcement issued by Anhui Haowei High-tech Materials Co., Ltd. shows that the company's net profit in the first half of the year is expected to increase by 110% to 130%. The main reason for profit is that while the company expands its product sales, it also strives to control various expenditures, effectively reducing production costs, and a series of measures has enabled the company's operating performance to increase substantially.

Shandong Haihua Co., Ltd. announced on July 12 that it expects its net profit in the first half of the year to increase by about 900% to reach 200 million yuan. It is understood that the reason for the company’s large increase in profits is that the company further promotes refined management, gives full play to its own advantages, digs out internal potentials, and controls production costs, so that soda ash sales of its leading products have increased significantly compared to the same period of last year. Since soda prices have risen sharply, corporate profits have increased significantly.

The increase in cost is the main reason for falling profits. Of course, there are also some chemical listed companies whose profits have decreased compared to the same period of last year. They have even experienced losses. They have different reasons for facing difficulties.

First, operating costs have increased.

Zhuhai City Letong Chemical Co., Ltd. is a main ink company, the company expects net profit fell by 30% to 50% in the first half of this year, and the decline is mainly due to rising raw material prices. In addition, the company increased product quality compensation in the process of product sales and increased sales expenses; this year, bank ** increased, and the corresponding interest expense increased, resulting in an increase in financial expenses.

Anhui Jiangnan Chemical Co., Ltd. expects net profit for the first half of this year to vary from -10% to 20%. The reason for the change in performance is that raw material prices have increased by a certain extent compared with the same period of last year.

On July 9, Yunnan Yunwei Co., Ltd. issued a pre-reduction announcement for its first-half results. The company said it expects its net profit in the first half of the year to fall by more than 50%. The decline was mainly due to tighter power supply in the first half of the year, higher electricity prices during the dry season in Yunnan, and tight supply of raw materials. As a result, the company’s acetylene chemical plant and associated alkali plant failed to operate at full capacity and production costs were high. In addition, after entering the second quarter, due to the coal mine safety rectification carried out in Yunnan Province, some coal mines were shut down, raw coal supplies were tight, and the company’s coking coal production chain production equipment load was reduced.

Shandong Hailong Co., Ltd. issued an announcement on July 15 that its net profit for the first half of this year is expected to lose about 255 million yuan. The former domestic chemical fiber industry leader is in trouble. According to the company, the price of the product dropped sharply in the second quarter, while the raw material price remained high, which was the reason for the large losses in the first half of the year. On June 28th, Shandong Hailong issued a notice of discontinued production. Since mid-May, production lines that accounted for 68.52% of the company's total production capacity of viscose staple yarn have been suspended due to insufficient market demand and rising product costs. As viscose staple products account for 78% of the company's main business income, the suspension of production has made the company's path to reverse losses even more tortuous.

Second, product demand is not strong.

On July 11, Zhejiang Huafeng Spandex Co., Ltd. issued an announcement that net profit for the first half of the year dropped by 45.8% year-on-year. The company said that there are three main reasons for the decline in performance. First, the purchase price of raw materials and labor costs have increased by a large margin compared with the same period of last year. Second, due to the drastic fluctuations in raw material prices, the demand for spandex products by downstream textile companies has been curbed, resulting in a year-on-year decrease in the sales volume of spandex. Third, the sales price of spandex since May 2011 The year-on-year decline has been greatly reduced.

On July 15, Jiangsu Aoyang Technology Co., Ltd., a viscose manufacturer, announced that the company is expected to lose 190 million to 220 million yuan in the first half of the year. Talking about the causes of losses, the company stated that due to the domestic and foreign market environment and the impact of the country’s macroeconomic policies, the cost of labor costs, financial costs, and other costs of the company has continued to rise since the first half of this year, and it is facing a funding shortage. In addition, the operating rate of downstream enterprises generally decreased, and the market demand for viscose products decreased in the second quarter. At the same time, due to the rapid expansion of the industry since the second half of the year and disorderly competition, viscose staple fiber has experienced rapid growth in its supply. Based on the above reasons, the price of viscose staple fiber fell sharply in the second quarter from 28,500 yuan/ton to 18,000 yuan/ton, a decrease of nearly 40%.

On July 14, Anhui Huaxing Chemical Co., Ltd. announced that it expects to lose 10 million to 15 million yuan in the first half of the year, a year-on-year decrease of 727 percent. As for the cause of the loss, Huaxing Chemical said that it was affected by changes in the global supply and demand relationship. The price of glyphosate, the company's leading product, remained low and its gross profit margin was low.

Third, the transition was unsuccessful.

Ningxia Dayuan Chemical Co., Ltd.'s main business is the production and sale of PVC pipe, sheet profiles. According to data released by the company, net profit loss for the first quarter of this year was about 5.7 million yuan. It is understood that Daewoo, which was listed on the Shanghai Stock Exchange in 1999, initially engaged in refining related business. In the following year of listing, the company’s net profit fell sharply as international crude oil prices soared and companies were caught between the two groups. Since then, the company has initiated multiple rounds of restructuring and has sought several transformations, such as the production of new building materials, the development of carbon fiber, and the acquisition of mining, but so far it has had little success.

The company recently issued an announcement stating that due to a plant rental dispute, its subsidiary Dalian Branch was forced to suspend production, which would bring about impairment of assets and a loss of operating income of about RMB 2 million per month.

Actively catching new investment opportunities The reporter learned from forecasts and announcements issued by various companies that, whether it is profitable companies or loss-making enterprises, they intend to actively capture new investment opportunities in order to lay the foundation for future development.

Hubei Yihua Chemical Co., Ltd. said in its forecast that the company has decided to invest in Xinjiang Yihua Chemical Company. The total investment of the project is 7.5 billion yuan. After the project is completed, it is estimated that the total annual profit will be 1.4 billion yuan. The company believes that the investment in the construction of caustic soda and polyvinyl chloride projects is in line with the requirements of the State's Western Development Strategy and is conducive to the further expansion of the company's operating areas.

Shandong Hualu Hengsheng Chemical Co., Ltd. stated that with a view to changing market demands, the company will use clean coal gasification as a platform to further expand the industry chain and develop new materials and related products to further enhance the company's industry status and comprehensive competition. force.

Maoming Petrochemical Shihua Co., Ltd. announced that the company plans to invest 30 million yuan to establish a wholly-owned subsidiary, through which the company invested 368 million yuan to build a special oil hydrogenation project, which will produce special environmentally friendly solvent oil and white oil, which are in short supply in the market. Base oil products such as lubricants. According to the person in charge of the company, with the increasing awareness of environmental protection by the nationals and the change in economic growth patterns, the demand for various low-aromatic, low-environmentally friendly solvent oil products has increased year by year. It is estimated that the average annual sales income after the project is put into production can reach 17.6. 100 million yuan.

Sichuan Meifeng Chemical Co., Ltd. stated that the company will further expand its agriculture-related service industry and build Wal-Mart in the field of agricultural materials in China. In addition, the company will continue to pay attention to the integration opportunities of upstream and downstream fertilizer industries. If the opportunity is appropriate, the company will consider entering the chemical fertilizer industry.

Recently, Zhejiang Yongtai Technology Co., Ltd., a fluorine chemical company, issued an announcement that the company had recently signed an equity transfer agreement with Hainan Xinhui Mining Co., Ltd. The company plans to use its own funds of 98 million yuan to purchase Hainan Xinhui Mining Co., Ltd. 70 % of equity. It is reported that Xinhui Mining has 717,900 tons of fluorite reserves. In this regard, Chang Yingzhi, a researcher in the chemical industry of China Investment Advisors, pointed out that since China's control over fluorite resources has continued to increase, domestic fluorite prices have been rising since the beginning of this year. At present, the price of domestic fluorite has increased from RMB 1,660/ton at the beginning of the year to RMB 3,000/ton, which is an increase of more than 80%, which has greatly increased the production costs of downstream products. Therefore, the related companies downstream of the fluorine chemical industrial chain have increased their willingness to expand upstream in order to ease the pressure of rising raw material costs.

There are also many chemical companies planning to enter the field of new energy and new materials, including some traditional chemical production companies.

Zhejiang Chuanhua Co., Ltd. stated that the company plans to establish Zhejiang Chuanhua Synthetic Material Co., Ltd. with its own capital of 100 million yuan, mainly engaged in the research, development and production of synthetic new materials such as butadiene rubber. It is understood that butadiene rubber is mainly used in tires, footwear, high-impact polystyrene and ABS resin modification.

Tangshan Sanyou Chemical Co., Ltd. issued an announcement saying that it agreed that Tangshan Sanyou Silicon Industry Co., Ltd., a holding subsidiary, will invest 39.5 million yuan to carry out the second-phase renovation and expansion project, and will add 20,000 tons/year of organic silicon monomer capacity after completion.

The investment recovery period of the project is 1.9 years and it is estimated that the newly added profit will be 29 million yuan.

Sinoma Technology Co., Ltd., which specializes in special fiber composite materials, said in an announcement that the company plans to invest 497 million yuan in the construction of two projects for wind power blades and natural gas high pressure cylinders.

Guangdong Haotai Industrial Co., Ltd. is a company that mainly produces amino molding plastics, dioctyl phthalate and other chemical products. The company announced that the company plans to fund the establishment of Guangdong Haotai Photovoltaic Technology Co., Ltd. for the introduction of foreign solar photovoltaic cell production technology and purchase of production equipment, construction of production workshop.

From the analysis of pre-announcement of performance in the first half of the year, we can see that the current development mode of chemical listed companies is showing differentiation. On the one hand, some companies are still taking the old road, most of which rely solely on the soaring prices of their products. At the same time, the costs are greatly affected by the upstream raw materials.

On the other hand, some companies have begun to make changes and plan to develop in the high-end and downstream areas. This is in line with the "12th Five-Year Plan" industry adjustment ideas. In general, this transcript is disappointing and hopeful.