On April 15, Sinochem International Corporation(600500) ( Sinochem International Corporation(600500) ) disclosed the annual report of 2021. During the reporting period, the listed company achieved an operating revenue of 80.648 billion yuan, a year-on-year increase of 48.90%; The net profit was 2.175 billion yuan, a year-on-year increase of 608.90%; The non net profit deducted was 565 million yuan, a year-on-year increase of 4564901%.
In terms of business segments, Sinochem International Corporation(600500) basic raw materials and intermediates business achieved an operating revenue of 4.737 billion yuan, a year-on-year increase of 74.43%; The business of high-performance materials achieved an operating revenue of 6.595 billion yuan, a year-on-year increase of 71.07%; The polymer additive business realized an operating revenue of 4.321 billion yuan, a year-on-year increase of 80.63%; The marketing business of chemical materials achieved an operating revenue of 23.036 billion yuan, a year-on-year increase of 73.30%; Strategic emerging businesses achieved an operating revenue of 306 million yuan, a year-on-year increase of 447.63%.
In terms of R & D, in 2021, Sinochem International Corporation(600500) R & D investment was about 1.485 billion yuan, a year-on-year increase of 26.14%; R & D mainly focuses on the field of new materials, continues to promote key projects in the fields of polymer materials, polymer additives, high-performance fibers and lithium battery materials, and makes key technological breakthroughs in many major projects such as aramid and downstream applications.
It is disclosed that Sinochem International Corporation(600500) business mainly covers intermediates and new materials, polymer additives, natural rubber and other fields, with customers in more than 100 countries and regions around the world.
From the perspective of industry situation, according to the “14th five year plan” development plan and research of petroleum and chemical industry, China’s new chemical materials industry will maintain a sustained growth trend during the “14th five year plan” period, achieve an operating revenue of RMB 120 billion by 2025, and the overall self-sufficiency rate will be increased to 75%.
In this context, Sinochem International Corporation(600500) implements the innovation driven strategy, focuses on the core business of new chemical materials, optimizes and upgrades core businesses such as high-performance materials and polymer additives, actively expands the lithium battery material industry, and cooperates with the lithium battery material industry chain to appropriately cultivate the lithium battery business.
As of December 31, 2021, Sinochem International Corporation(600500) construction in progress was about 11.394 billion yuan, an increase of 6.099 billion yuan or 115% over the beginning of the year. The construction in progress mainly focuses on the business of new chemical materials. At present, all businesses are advancing steadily and orderly.
Judging from the progress of key projects, Sinochem International Corporation(600500) carbon three industry chain phase I project ECH and epoxy resin have been completed, phenol ketone, BPA and PDH have completed civil construction and transportation, and entered the key stage of equipment installation. According to public information, Sinochem International Corporation(600500) ech has been put into trial operation in February 2022. It is expected that phenol ketone and BPA units will be completed in the second quarter and PDH will be completed in the fourth quarter. In addition, the company’s Jiangsu Lianyungang Port Co.Ltd(601008) polymer additive phase I project has completed the detailed design and equipment ordering, the on-site construction has been fully launched, and some main structures have been capped, striving to be completed by the end of 2022.
It is worth noting that Sinochem International Corporation(600500) also moves continuously in 2022. On March 25, Sinochem International Corporation(600500) plans to start a fixed increase to raise no more than 5 billion yuan for the phase I project of the carbon industry and supplement working capital. The construction contents include Shanghai Pudong Development Bank Co.Ltd(600000) tons of propane dehydrogenation unit, 650000 tons of phenol acetone, 240000 tons of bisphenol A, 400000 tons of propylene oxide and 150000 tons of epichlorohydrin. The planned total area of the project is 63.66 hectares, the total investment is about 13.913 billion yuan, and the planned construction period is 30 months. In terms of progress, on April 11, 2022, the relevant proposals of the scheme passed the general meeting of shareholders with a pass rate of more than 87%.
Sinochem International Corporation(600500) said that the phase I project of carbon three industry is a key step in the transformation of the company to the strategic business of new chemical materials, which helps the company deepen the business layout of new chemical materials, realize the effective coordination between the upstream and downstream of the industry, create the integration of industrial chain, form cost advantage and economies of scale, and improve the profitability and core competitiveness of the enterprise.
