Hengli Petrochemical’s new project is expected to be put into operation in the third quarter

Latest News: On August 15, Hengli Petrochemical Co., Ltd. announced that in the first half of 2022, the company achieved revenue of 119.155 billion yuan, a year-on-year increase of 13.94%; net profit was 8.026 billion yuan, a year-on-year decrease 7.13%.

In the second quarter, the company achieved revenue of 65.769 billion yuan, a year-on-year increase of 28.1%; net profit was 3.803 billion yuan, a year-on-year decrease of 16.06%.

In terms of products, in the first half of the year, Hengli Petrochemical produced 11.5553 million tons of refining and chemical products, with a sales volume of 11.8606 million tons, and a revenue of 68.636 billion yuan; PTA production was 6.0474 million tons, with a sales volume of 5.3891 million tons, and a revenue of 29.257 billion yuan; new materials The product output was 1.7158 million tons, the sales volume was 1.498 million tons, and the revenue was 13.974 billion yuan.

Hengli Petrochemical is the first listed company in the industry to realize the integration of the whole industry chain of “crude oil-aromatic hydrocarbons, olefins-PTA, ethylene glycol-polyester new materials”. Its main businesses include refining, petrochemical and polyester new materials. The entire industry chain of materials, with 20 million tons of petroleum refining and chemical projects, is the world’s largest PTA manufacturer with the largest single unit and the largest production capacity, and is also a leading enterprise in my country’s polyester chemical fiber industry.

The announcement shows that, relying on the advantages of upstream raw materials, Hengli Petrochemical actively deployed lithium battery separators, electrolytes, PET copper foils and solar photovoltaic backsheet films in the first half of the year. At present, its subsidiary Jiangsu Kanghui New Material Technology Co., Ltd. has an annual output of 800,000 tons of functional films and functional plastics, and the new lithium battery diaphragm project in Nantong is progressing in an orderly manner.

In addition, Hengli Petrochemical invested in the construction of a 1.6 million ton/year high-performance resin and new material project, which is expected to be put into operation in the second quarter of next year. At the same time, the BDO project and the spandex project of the second phase of the Fine Chemical Park are in steady progress and are expected to be put into operation gradually in the second half of next year.

Hengli Petrochemical stated that during the reporting period, in order to safeguard the interests of the company and shareholders, the company implemented and completed the third and fourth phase of the share repurchase plan, with a total repurchase fund of 2 billion yuan.

Since its listing in 2011, Hengli Petrochemical has been paying dividends generously, with a cumulative cash dividend of about 18.5 billion yuan. As of the end of the reporting period, the company’s net assets were 59.077 billion yuan, a year-on-year increase of 3.09%, and the asset-liability ratio was 74.96%.

It is understood that from 2019 to 2021, Hengli Petrochemical achieved revenue of 100.78 billion yuan, 152.37 billion yuan, and 198 billion yuan respectively; net profit was 10.03 billion yuan, 13.46 billion yuan, and 15.53 billion yuan. In the 2022 Fortune China Top 500 Industrial Sub-List, Hengli Petrochemical ranks first among private enterprises.