On February 16, the leading chlor alkali enterprise Xinjiang Zhongtai Chenical Co.Ltd(002092) ( Xinjiang Zhongtai Chenical Co.Ltd(002092) , 002092) announced that the company achieved a revenue of 62.463 billion yuan in 2021, a year-on-year decrease of 25.83%; The net profit attributable to shareholders of listed companies was 2.703 billion yuan, an increase of 1769.96% year-on-year; The basic income per share was 16204 yuan, a year-on-year increase of 1621.7%.
For performance growth, the announcement said that the company is located in Xinjiang, Northwest China, with rich coal, limestone and other resources. As a calcium carbide production enterprise, especially the “coal electricity calcium carbide” integrated joint production enterprise, the company has more obvious advantages in cost. At the same time, the market price of the company’s main products (PVC, viscose fiber) continued to rise, driving the growth of the company’s performance.
As of February 16, Xinjiang Zhongtai Chenical Co.Ltd(002092) had a market value of 28.93 billion yuan.
The chemical industry is highly cyclical, Xinjiang Zhongtai Chenical Co.Ltd(002092) said that the company will seize the opportunity and the rising cycle of 1,4-butanediol (BDO) industry and its downstream.
On February 6, Xinjiang Zhongtai Chenical Co.Ltd(002092) disclosed the reorganization plan. The company plans to issue shares and convertible corporate bonds (if any) to purchase 75.89% of the shares of Meike chemical (the largest BDO professional supplier in China and the third largest in the world) from Sinopec and others.
Xinjiang Zhongtai Chenical Co.Ltd(002092) said that after the completion of this transaction, MEC chemical will become its wholly-owned subsidiary, Xinjiang Zhongtai Chenical Co.Ltd(002092) will have an annual production capacity of 270000 tons of BDO, 620000 tons of formaldehyde (for the production of BDO) and 170000 tons of methanol (for the production of BDO), and become a leading enterprise in China’s BDO industry.
An investor asked on the interactive platform: what is the progress of your acquisition of MEC chemical? Xinjiang Zhongtai Chenical Co.Ltd(002092) replied on February 14 that the audit evaluation is currently under way.
Xinjiang Zhongtai Chenical Co.Ltd(002092) relying on the abundant natural resources such as coal, raw salt and limestone in Xinjiang, it has two main industries of Shanghai Chlor-Alkali Chemical Co.Ltd(600618) and viscose textile industry. It is mainly engaged in four products: polyvinyl chloride resin (PVC), ion-exchange membrane caustic soda, viscose fiber and viscose yarn. It has a complete circular economy industrial chain integrating upstream and downstream of coal thermal power – Shanghai Chlor-Alkali Chemical Co.Ltd(600618) – viscose fiber viscose yarn.
