Securities code: Lihuayi Weiyuan Chemical Co.Ltd(600955) securities abbreviation: Lihuayi Weiyuan Chemical Co.Ltd(600955) Announcement No.: 2022024
Lihuayi Weiyuan Chemical Co.Ltd(600955)
Announcement of main business data in 2021
The company and all members of the board of directors guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
According to the relevant requirements of Shanghai Stock Exchange self regulatory guidelines for listed companies of Shanghai Stock Exchange No. 3 industry information disclosure: No. 13 – chemical industry, Lihuayi Weiyuan Chemical Co.Ltd(600955) (hereinafter referred to as “the company”) now discloses the main business data of 2022 as follows:
1、 Output, sales volume and revenue realization of main products
Annual output of main products in 2021 (tons) sales outside 2021 annual sales amount in 2021 (tons) (10000 yuan)
Phenol 515733312939366022785528
Acetone 317461571935091511099832
Bisphenol a 254689741293178825233621
Polycarbonate 138950531409661329081063
Isopropanol 606540160986323943110
2、 Price changes of main products and raw materials
(I) price changes of main products
Unit: yuan / ton
Average price of main products in 2021 (excluding 2020 average price (excluding change tax) (%)
Phenol 775185563197 37.64
Acetone 573608615188 -6.76
Bisphenol a 1951286975539 100.02
Polycarbonate 20629821198343 72.15
Isopropanol 646556705528 -8.36
Description of price changes of main products:
Phenol: in 2021, no new capacity of phenol industry will be put on the market, and the total capacity of phenol in China will remain stable at 3.355 million tons / year. With the gradual increase of industrial capacity and the steady development of downstream demand, China’s phenol output shows an overall growth trend. The output decreased in 2020 mainly due to the impact of public health events. In 2021, the expansion pace of China’s phenol industry slowed down. With the effective control of the epidemic, China’s economic operation returned to normal, and the overall operation of the phenol industry increased significantly compared with last year. The price of phenol upper raw materials has increased significantly, and the downstream bisphenol A and phenolic resin have increased production capacity and put on the market, with stable and good demand.
Acetone: the main reason for the change in 2021 is the influence of supply and demand, which also superimposes the influence of some phenolic ketone raw materials. From January to March, it was mainly due to the shortage of supply caused by the reduction of imports, so the market went up. With the increase of import sources in April, the supply gradually increased, so the market began to decline. By June, when the market price reached about 5000, there was obvious bottom support. In the following second half of the year, with the overall rise of crude oil price, the raw materials of pure benzene and propylene rose, and the price of acetone rose as a whole. However, the overall pattern of oversupply in the second half of the year remained unchanged, so the price was significantly lower than that in the first half of the year.
Bisphenol A: in 2021, the price trend of bisphenol A showed a deep fluctuation. The supply and demand side of the market fluctuates frequently, and the price trend fluctuates. The profit space is gradually compressed, and the price drops to a certain point, which is in a horizontal stalemate. At the end of the year, China’s new bisphenol a production capacity was released, and some PC factories realized self supply of raw materials. Combined with the purchase mode of Huangshan brand and its subsidiary products, the purchase cost of Huangshan brand and its subsidiary products will be greatly reduced, and the purchase cost of Huangshan brand and its subsidiary products will be reduced accordingly. Affected by the overall downturn of terminal demand, the market demand for genuine bisphenol A was forced to shrink, dragging down the whole industrial chain.
Polycarbonate: in 2021, the market price has gradually increased due to the rise of raw material prices since January. After the Spring Festival, the market rose rapidly, bringing huge cost pressure to the downstream, but it was difficult to conduct high costs, and the market was deadlocked again after the rise. Since the middle of May, China’s bisphenol a market has declined significantly. In mid July, with the rise of bisphenol a market, the prices of Chinese factories increased, but the rapid rise of short-term prices encountered strong resistance from end customers. End customers are blocked from receiving new orders at higher prices, the operating rate has decreased significantly, and only a small amount of procurement needs to be maintained. In September, China’s PC price broke through the highest point of the year, and the current demand is not obviously strong. In late September, the national dual control policy was tightened, and the market demand was further reduced. At the same time, the price of raw materials was callback, resulting in insufficient confidence in the PC market and continuous downward price. In December, China’s PC market was narrow and weak, and the atmosphere was gradually stable.
(II) price changes of main raw materials
Unit: yuan / ton
Average price of main raw materials in 2021 (excluding average price in 2020 (excluding change range)
Tax) (%)
Pure benzene 614880335938 83.03
Propylene 703944614730 14.51
Dimethyl carbonate 695936623695 11.58
Description of price changes of main raw materials:
Pure benzene: in 2021, the production of pure benzene unit was limited. Due to the influence of crude oil quota and supporting downstream, the overall external sales volume of petroleum benzene unit increased little. Due to the influence of unit profit, the annual operating rate of benzene hydrogenation unit did not increase significantly. The imported goods were affected by public health events, the unloading at the main port was slow, the detention was serious, the enthusiasm was not high, and the overall increase of port inventory was slow, Therefore, the overall supply of pure benzene is limited, but at the consumer end, styrene, caprolactam and aniline units are put into operation one after another. Besides the rapid expansion of styrene capacity and low profit, other downstream profits are better and the consumption is significantly increased.
Propylene: in 2021, the market price focus of propylene was strong and rebounded, mainly due to the joint action of cost, supply and demand and other factors. In terms of cost, the prices of raw materials such as crude oil, propane, coal and methanol generally rose, which significantly supported the price of propylene. In terms of demand, except that the price of polypropylene fluctuates near the cost line, the downstream profits of phenol ketone, butyl octanol and acrylic acid are rich, and the demand for propylene has formed a certain stable support. The new capacity of propylene continues to be released, but the overall impact on the market is controllable by reducing imports, increasing exports and staggered peak maintenance of large units.
Dimethyl carbonate: in 2021, the production capacity of dimethyl carbonate plant will continue to increase, and the production processes of propylene oxide, ethylene oxide, methanol and urea will be diversified, forming a situation in which a hundred flowers bloom. China’s production capacity and unit operating rate are higher than those in 2020. On the demand side, the new production capacity of PC is put into operation, the battery electrolyte market is also expanding, and the demand for dimethyl carbonate is also increasing. In addition, the export increment caused by the increase of foreign demand makes the overall market price performance of dimethyl carbonate market higher than that in 2020. 3、 There are no other matters that have a significant impact on the company’s production and operation during the reporting period.
The above operating data are only for investors to timely understand the company’s production and operation profile. The board of directors of the company reminds investors to use the above data carefully and pay attention to investment risks.
It is hereby announced.
Lihuayi Weiyuan Chemical Co.Ltd(600955) board of directors March 1, 2022
