China Resources Chemical Innovative Materials Co.Ltd(301090) ( China Resources Chemical Innovative Materials Co.Ltd(301090) ) issue the annual report for 2021 on April 10. The announcement shows that the company complies with the needs of the national new material industry development strategy, and has formed two business layouts of polyester bottle chips and new materials. In 2021, the company realized an operating revenue of 12.585 billion yuan, with a year-on-year increase of 1.65%, mainly from the revenue of polyester bottle chip business and raw material trade business.
China Resources Chemical Innovative Materials Co.Ltd(301090) is mainly engaged in the R & D, production and sales of polyester materials and new materials. The product polyester bottle chips are mainly used in soft drinks, edible oil, food packaging, wine packaging, condiments, commodity packaging, medical and drug packaging and sheet materials.
During the reporting period, benefiting from the growth of demand in emerging fields such as traditional food and beverage field and sheet protection, as well as the increase of export market share, the company achieved a sales volume of 1.722 million tons of polyester bottles and chips, a year-on-year increase of 34500 tons, and the production and sales rate reached 103.99%; The output of polyester bottle chips was 1655900 tons, basically the same as that in the same period, and the capacity utilization rate was 103.49%; Affected by the factors of centralized reduction and shutdown of overseas polyester plants, the demand for overseas polyester bottles and chips increased significantly. The overseas sales volume of the company’s products in 2021 was 492200 tons, a year-on-year increase of 27.55%; Affected by the market, the turnover of the company’s raw material trade business decreased by 19.87% year-on-year.
increase R & D efforts in the field of new materials and promote the development of the company’s main business
China Resources Chemical Innovative Materials Co.Ltd(301090) pointed out that the sustainable development and independent control of the new material industry has become a national strategy. It is reported that Zhuhai China Resources Chemical Innovative Materials Co.Ltd(301090) produces 500000 tons of polyester annually. After the third phase project is put into operation, the company will have a production capacity of 2.1 million tons / year of polyester bottles and chips; The first phase of the new material project “Zhuhai China Resources Chemical Innovative Materials Co.Ltd(301090) 100000 T / a PETG special polyester project” was officially put into operation in January 2022. At present, the production line is running stably; The work of the first phase of the PET foam project is being carried out according to the plan. The high-performance thermoplastic composite material project has basically completed the plant decoration and established Changzhou China Resources high-performance composite material Co., Ltd. While consolidating and expanding the main business of polyester, the company focuses on breaking through the field of key new materials. By introducing R & D talents, building product technical barriers, accelerating the transformation of R & D achievements, and actively selecting new material links closer to the consumer end in the industrial chain, the product demand is more stable and the profit return is higher.
It is worth noting that the special polyester PETG is the short board industry of China’s engineering plastics and high-end packaging materials, and it is also the key technology in the key fields that the country needs to tackle. The smooth operation of the PETG project is of great significance to the industrial upgrading and leapfrog development of the company.
China Resources Chemical Innovative Materials Co.Ltd(301090) continuously improve the innovation management and incentive mechanism with the characteristics of the new material industry, and vigorously promote product technology innovation. Focusing on the high-end polyester, high-performance polymers and fibers and related new materials, the company has conducted in-depth research and engineering cooperation with China’s foreign research institutions, and has launched dozens of new materials research and engineering applications. Some of the projects have made breakthrough in the pilot test. PETG special polyester, high-performance PET foam materials, thermoplastic composites and other new material technologies have been industrialized through technological research.
During the reporting period, the company increased R & D personnel introduction and cooperation with research institutes, and continuously increased R & D investment in high-performance PET foam materials, high-performance thermoplastic composites projects and other new material projects, and the R & D expenses increased by 59.79% over the same period last year.
comply with the development trend of the industry, explore and layout cutting-edge new chemical materials
According to the company’s introduction, according to the “14th five year plan” development guide for new chemical materials industry, the main business income and fixed asset investment of China’s new chemical materials industry will maintain rapid growth during the 14th Five Year Plan period, and strive to realize high-end and differentiation of new chemical materials industry by 2025. In response to the national development strategy of new chemical materials industry and the industry development trend of “low carbon, green and lightweight”, the company formulated the “14th five year plan” at the end of 2020. With the vision of becoming an “excellent enterprise with international competitiveness in the field of polymer materials”, the company will consolidate its leading position in the industry and drive high-quality development with innovation. The company will continue to strengthen, optimize and expand the polyester business, and expand the scale advantage of pet according to the market demand; Adopt a variety of ways to appropriately extend to the upstream of the polyester industry chain, ensure the stable supply of raw materials, improve the bargaining power, and strive to achieve self-sufficiency of key raw materials; Vigorously develop new polyester varieties with high added value and green environmental protection. At the same time, the company will actively explore the layout of cutting-edge new chemical materials, continue to pay attention to the key technologies in the field of high-performance polymers and high-performance fibers, improve its independent research and development ability, take advantage of technical cooperation, mergers and acquisitions, grasp the domestic substitution opportunities of high-end new materials, serve the national strategy and realize the industrialization of key technologies.
As of the end of the reporting period, China Resources Chemical Innovative Materials Co.Ltd(301090) main product polyester bottle chip has a production capacity of 1.6 million tons / year. It is one of the leading enterprises in China’s polyester bottle chip industry in terms of production scale, technology and process level. The construction of phase III polyester project with an annual output of 500000 tons in Zhuhai has been completed. The pre production capacity of the company will reach 2.1 million tons, and the company’s comprehensive production capacity will be steadily improved in 2022.
In addition, the company will focus on promoting the development of new materials business, accelerating the development of new products, marketing and docking with customers, ensuring the smooth operation of the “Zhuhai China Resources Chemical Innovative Materials Co.Ltd(301090) 10 million tons / year PETG special polyester project” phase 1 production line, achieving full production and full sales, ensuring that the work of the first phase of the PET foam project and high-performance thermoplastic composite project is carried out in a planned and orderly manner, and it is put into operation in the year.
