Benefiting from the rising volume and price of main products, Wanhua Chemical Group Co.Ltd(600309) ( Wanhua Chemical Group Co.Ltd(600309) ) handed over a beautiful “report card”.
On March 14, Wanhua Chemical Group Co.Ltd(600309) officially released its annual report for 2021. During the reporting period, the listed company achieved a revenue of 145538 billion yuan, a year-on-year increase of 98.19%; The net profit was 24.649 billion yuan, a year-on-year increase of 145.47%; The basic earnings per share is 7.85 yuan, and it is proposed to pay a cash dividend of 25 yuan (including tax) for every 10 shares.
For the growth of performance, Wanhua Chemical Group Co.Ltd(600309) said that during the reporting period, the production and sales of products increased, while the prices of products and raw materials increased year-on-year, and the annual operating revenue and operating costs increased year-on-year.
Specifically, the revenue and cost of Wanhua Chemical Group Co.Ltd(600309) polyurethane series products increased compared with the previous year, which was mainly caused by the launch of 1.1 million tons of MDI technological transformation new capacity in Yantai, the increase of polyether polyol sales and the rise of product and raw material prices during the reporting period; The increase in gross profit margin was mainly due to the year-on-year increase in product prices and the scale effect brought by the increase in production capacity and sales volume.
the revenue and cost of Wanhua Chemical Group Co.Ltd(600309) petrochemical products increased compared with the previous year, mainly due to the increase in the sales volume of petrochemical products due to the production of one million tons of ethylene plant and the increase in the price of petrochemical products and LPG caused by the rise in the price of crude oil superimposed by the global phased imbalance between supply and demand; The increase in gross profit margin was mainly due to the sharp rise in the price of petrochemical products year-on-year and the change in product structure and scale effect caused by the production of one million tons of ethylene.
Wanhua Chemical Group Co.Ltd(600309) fine chemicals and new materials series increased in revenue and cost compared with the previous year, mainly due to the increase in sales volume of ADI, waterborne resin and TPU business and the rise in the price of fine chemicals and related raw materials; The gross profit margin increased, mainly due to the general rise in product prices and changes in product structure.
It should be pointed out that in 2021, Wanhua Chemical Group Co.Ltd(600309) R & D investment was 3.168 billion yuan, mainly focusing on the technology incubation of new business sectors such as high-end chemical new materials and solutions and emerging materials Wanhua Chemical Group Co.Ltd(600309) technology platform continuously improved the confidentiality mechanism of technological innovation. Throughout the year, 805 invention patents were applied for and 416 were newly authorized. In 2021, Wanhua Chemical Group Co.Ltd(600309) R & D personnel numbered 3126, accounting for 16% of the total number of listed companies.
For example, carbon neutral technology, polyurethane foam degradation and recycling, new energy storage and battery materials, separation and purification and other R & D projects. In the field of polyurethane, the sixth generation MDI technology has been successfully applied in Yantai MDI device, realizing stable operation of 1.1 million tons / year.
In the annual report, Wanhua Chemical Group Co.Ltd(600309) also analyzed the main manifestations of the growth trend of the chemical industry: first, the upsurge of anti epidemic chemical investment, the global covid-19 virus epidemic is becoming more and more normal, and it is sought after by capital funds in the fields of basic chemicals and surfactants; Second, green and low-carbon chemical industry is booming, and emerging biochemical products are developing rapidly. In 2021, the consumption scale of emerging biochemical products such as fatty acid esters, polyhydroxy, glutamine and so on has increased rapidly; Third, in the high-end application market of intelligent transportation, 5g materials are hot, and semiconductor materials and PCB high-frequency and high-speed copper clad laminates are developing rapidly.
It is worth mentioning that in the context of the rapid development of new energy industry, Wanhua Chemical Group Co.Ltd(600309) also increased the layout of downstream new energy materials. The company has many projects such as citral and derivatives, PC, synthetic spices, biodegradable plastics, lithium cathode materials, large-size monocrystalline silicon and other new materials with high added value. In March 2021, Wanhua Chemical Group Co.Ltd(600309) absorbed and merged Yantai zhuoneng Lithium Battery Co., Ltd., a wholly-owned subsidiary, and invested in the construction of 10000 tons of ternary cathode materials for lithium batteries and a pilot platform for lithium-ion battery research and development. In January 2022, the company’s annual output of 50000 tons of lithium iron phosphate project was launched in Meishan, Sichuan.
“In the future, the company will make use of the advantages of the integrated industrial chain of the existing industrial park, continue to increase investment in olefins and downstream industrial chains, vigorously develop Wanhua polyolefin high-performance material platform, and promote the transformation and upgrading of China’s Polyolefin industrial chain.” Wanhua Chemical Group Co.Ltd(600309) pointed out that the company will rely on the olefin industry chain platform to further strengthen and expand the modified plastic business, expand the downstream of high-end applications of material business, and continue to explore and move forward to the field of new materials.
