Securities code: Luxi Chemical Group Co.Ltd(000830) securities abbreviation: Luxi Chemical Group Co.Ltd(000830) Announcement No.: 2022014 bond Code: 112825 bond abbreviation: 18 Luxi 01
Luxi Chemical Group Co.Ltd(000830)
Summary of annual report 2021
1、 Important note: the summary of this annual report comes from the full text of the annual report. In order to fully understand the company's operating results, financial status and future development plan, investors should carefully read the full text of the annual report in the media designated by the CSRC. Tips of non-standard audit opinions □ applicable √ not applicable to the profit distribution plan of common stock or the plan of converting accumulation fund into share capital in the reporting period reviewed by the board of directors √ applicable □ not applicable whether to convert accumulation fund into share capital □ yes √ no the company's profit distribution plan of common stock reviewed and approved by the board of directors is: Based on the share capital on the equity registration date when the annual equity distribution is implemented in 2021, Cash dividend of 20.00 yuan (tax included) shall be distributed to all shareholders for every 10 shares, and bonus shares of 0 share (tax included) shall be given, and the capital stock shall not be converted into accumulation fund. Preferred stock profit distribution plan for the reporting period adopted by the board of directors □ applicable √ not applicable II. Basic information of the company 1. Company profile
Stock abbreviation Luxi Chemical Group Co.Ltd(000830) Stock Code: Luxi Chemical Group Co.Ltd(000830)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Li Xueli Li Xueli
Office address: new chemical materials Industrial Park, Liaocheng high tech Industrial Development Zone, Shandong
Fax: 06353481044
Tel: 06353481198
E-mail Luxi Chemical Group Co.Ltd(000830) @lxhg.com. Luxi Chemical Group Co.Ltd(000830) @lxhg.com.
2. Introduction to main business or products during the reporting period
(I) analysis of external factors
During the reporting period, the world's unprecedented major changes in a century continued to evolve, covid-19 epidemic continued to impact the global industrial chain supply chain, the prices of primary products such as oil and coal soared and plummeted, the unstable and uncertain factors affecting economic development continued to increase, and the downward pressure on the economy continued to increase. The external environment has become more complex and severe, and the challenges of international trade protectionism and unilateralism have intensified.
Industry development opportunities and risks coexist. We have increased the elimination of backward production capacity, closed down and transferred scattered pollution enterprises, and achieved remarkable results. Enterprises with reasonable layout, high technical content, strong competitiveness and high management level have obtained better development space, which is the foundation and pillar to support the high-quality development of the petrochemical industry. Crude oil imports decreased, crude oil dependence on foreign countries decreased, and oil prices remained high. Affected by the changes in market supply and demand, the tightening of safety and environmental protection supervision policies and other factors, the prices of most chemical products have maintained an upward trend. Over the years, chemical enterprises with standardized development and industrial chain advantages have achieved good business performance. At the same time, due to the influence of the "dual control of energy consumption" policy, some enterprises are limited in production and production, or even cut off power, which not only threatens the stability and safety of the petrochemical product supply chain, but also directly threatens the production safety of petrochemical plants, chemical enterprises and parks; The growth rate of the petroleum and chemical industry has fallen, market volatility and downward pressure have increased, and contradictions and problems such as slowing demand growth, rising raw material costs, strengthened energy efficiency constraints and phased supply-demand imbalance have gradually emerged. In the second half of the year, especially since the fourth quarter, with the emergence of contradictions and pressures such as shrinking economic demand, supply shock and weakening expectations, the petroleum and chemical industry is also facing the severe challenge of declining growth of major economic indicators and increasing downward pressure.
(II) industry development
The upstream industries of the company mainly include coal, raw salt, electric power, bisphenol A, propylene and other raw material industries and energy industries. The supply, price, technical level and quality level of the main raw materials, energy and other products provided by the upstream have an impact on the industry. Downstream industries mainly include building materials, pesticides, medicine, food additives, dyes, chemicals, shoemaking, leather and other industries. The downstream industries of main products have the characteristics of large scale and wide range. The demand fluctuation of a single downstream industry has little impact on the whole product system.
The company's main businesses include new chemical materials, basic chemicals, chemical fertilizer products and other businesses. The relevant main sub industries are as follows:
1. New chemical materials
(1) Polycarbonate industry
It is a series of aliphatic polymers and polycarbonates, which can be widely used in the production of aliphatic and high molecular components and electronic components in the future.
At present, the industrial production methods of polycarbonate mainly include interfacial polycondensation, melt transesterification polycondensation and non phosgene melt transesterification polycondensation. The first two are also called "phosgene method" and the latter is "non phosgene method". In terms of global production capacity, the production capacity of phosgene method and semi phosgene method accounts for 65.96%; The capacity of phosgene and semi phosgene polycarbonate in Chinese Mainland accounts for about 51% of the total national capacity.
At present, the growth of Asian demand has driven the rapid growth of the world's polycarbonate production capacity, and the production focus has shifted to Asia, especially to developing countries such as China. In 2021, China's polycarbonate production capacity reached 2.37 million tons, an increase of 260000 tons over the previous year.
In 2021, affected by the epidemic, the oil price surged and fell, the petrochemical industry chain showed a high-level fluctuation trend in band operation, and the unstable operation of ports in various countries occurred from time to time, resulting in the intermittent stagnation of the global supply chain, the release of polycarbonate production capacity superimposed in recent years, the price inversion of raw bisphenol A and polycarbonate for a long time in the year, unstable export and insufficient domestic demand, and the operation of polycarbonate industry entered a severe low tide, In the long run, with the high competition of the industrial chain, the market will enter the state of integration, phased and structural market operation.
(2) Caprolactam industry
Caprolactam produces nylon 6 (PA6) through polycondensation, which can be used to produce fiber (nylon), engineering plastics and films. Compared with the global consumption structure, China's caprolactam accounts for a large proportion of nylon, while the proportion of engineering plastics and film is low. With the increasing demand for new functions in automobile, food, sports equipment, military industry and other industries, it will drive the increase of demand in engineering plastics, film and other fields.
With the rapid development of downstream industries, the demand for caprolactam is increasing. China's new caprolactam production capacity has been put into operation, and the growth rate of production capacity and output has maintained a high level. Attracted by the high growth of lactam related industries and the return from industrial structure adjustment, many Chinese enterprises have gradually entered the lactam market in recent years. With the continuous improvement of large-scale production and technical level, the cost advantage of Chinese caprolactam enterprises is gradually expanding, and their competitiveness in the international market is becoming more and more obvious.
In 2021, Chinese caprolactam enterprises will form a professional scale advantage to improve their core competitiveness. In the future, their competitiveness in Asia and even the world will also be improved. Demand side textile and clothing exports have made a good start. Under the continuous influence of the global epidemic, China has promoted the adjustment of international double cycle policies, effectively stimulated the vitality of textile industry, new energy vehicles, engineering plastics, food, sports equipment, military industry, electrical appliances and people's livelihood, gradually increased the profitability of the industry, and driven the benign development of polyamide industrial chain.
(3) Nylon 6 industry
With the rapid development of nylon 6 industry in recent years, the economies of scale are obvious. On the one hand, the average scale of enterprises is increasing and the industrial concentration is increasing; On the other hand, due to the improvement of polymerization technology in China, the gap between the quality of nylon 6 products in China and foreign countries is gradually narrowing, the application field of nylon 6 is gradually expanding, and the export volume of nylon 6 in China is also gradually expanding. The production equipment tends to be large-scale, automatic and energy-saving, the production efficiency is continuously improved, the unit investment, energy consumption and processing cost are continuously reduced, and the large-scale benefits of enterprises are gradually emerging. At present, nylon 6 has a strong cost advantage in the international market, and some foreign caprolactam and nylon 6 enterprises will gradually withdraw from the market.
In 2021, the price of nylon 6 in the Chinese market showed a sharp upward trend, mainly due to the increased demand caused by the expansion of product application fields. The lightweight development in the automotive field has increased the output of nylon 6 modified market and gradually moved towards the international market; With the improvement of people's living standards, the demand of high-end textiles for nylon is also gradually expanding. Although the international market is affected by the global epidemic, nylon 6 has great demand potential in the civil silk market, especially in the international market.
The production process and technology of China's Nylon industry have achieved rapid development in recent years, and the equipment and technology of new production lines in the industry have a high level. In contrast, the early production equipment of international and Chinese nylon 6 enterprises has obvious disadvantages in product quality, energy consumption and process control. The product competitiveness is low, the market space is gradually compressed, facing the risk of elimination, and guiding the industry to develop in the direction of high-end and differentiation. In 2021, with the increase of China's caprolactam production capacity, affected by the cost, the imported caprolactam basically withdrew from the Chinese market. Chinese nylon 6 enterprises have a cost advantage and have a large export space in the future.
(4) Polyol industry
Polyols are mainly used in food and chemical industry. DOP and DOTP in the downstream of octanol are plasticizers. The downstream of DOP is mainly in the field of PVC. The largest application field in the downstream of DOTP is in the field of gloves. Butyl acetate and butyl acrylate are mainly in the downstream of n-butanol. The terminal is mainly used for coatings, adhesives, etc. In the future, the global market, especially the developing regions such as Asia Pacific, the Middle East, Africa and South America, will become a new force market to promote the development of polyols in the world due to the growing construction and automobile industry. Similarly, due to the increase of commercial and personal vehicles, the growth of the automobile industry is another factor, which will also promote the polyol market in these regions.
During the reporting period, affected by the epidemic situation in the first quarter, increased demand, factory device maintenance, power and production restriction and other factors, the product price fluctuated significantly and frequently throughout the year. In the fourth quarter, the overall downstream demand recovered, and the product price gradually returned to rational operation.
(5) Silicone industry
Organosilicon refers to a large class of compounds containing silicon carbon bonds or silicon oxygen and silicon sulfur bonds, including both small molecule organosilicon monomers and organosilicon polymers such as polysiloxane and Polycarbosilane. Among them, dimethyldichlorosilane is the most widely produced monomer in the silicone industry. Its upstream raw materials are metal silicon and methyl chloride. In the downstream, intermediates such as silicone DMC and silicone D4 are synthesized, and then used to produce terminal products such as silicone rubber, silicone resin and silicone oil. Silicone materials play the role of "industrial monosodium glutamate" in the national economy because of their excellent performance. They are widely used in construction, electronic and electrical appliances, textile and clothing, energy, medical and health industries and so on.
During the reporting period, the overall market price of silicone showed an upward trend. Under the influence of emergencies, epidemic situation, dual control of energy consumption and other factors, the prices of raw materials and products fluctuated sharply, with more rise and less fall, and the price exceeded the new high for many years. Domestic and foreign trade demand has maintained a growth trend, and the demand in construction, automobile, textile, electronic and electrical, electric power and other fields has maintained a year-on-year growth. With the release of new silicone production capacity in China, the output of polysiloxane in China has maintained a high-speed growth.
(6) Fluorine material industry
Fluorine chemical industry generally refers to all industries that produce fluorine-containing products. Fluorine-containing substances often have unique characteristics such as high stability and good non adhesion, and have high industrial and commercial value. Fluorine chemical products are mainly divided into four categories: inorganic fluoride, refrigerant, fluorine-containing polymer and fluorine-containing fine chemicals. The latter three categories are collectively referred to as organic fluoride. China's fluorine chemical products are mainly substitutes for fluorine-containing ODS (ozone depleting substances), fluorine-containing fine chemicals, fluorine-containing polymers, etc., while the proportion of fluorine-containing fine chemicals in fluorine chemical products in developed countries is close to 50%, and the added value of products is high. It can be seen that the main direction of China's fluorine chemical development in the future is to increase the proportion of fluorine-containing fine chemicals.
China's dual carbon target has brought more stringent dual control of energy consumption. At the same time, the accelerated development of new energy industry and the strong support of China's demand have also created conditions for the rapid development of fluorine chemical industry.
During the reporting period, the fluorine chemical industry reached new highs in various fields. The unexpected growth of new energy vehicles has led to a surge in the demand for lithium fluoride materials, and the product supply is in short supply, driving lithium fluoride materials to the wind of the industry; The refrigerant market recovered slightly. According to statistics, the total shipments of complete machine enterprises in China's air conditioning industry in 2021 were about 88 million sets, an increase of 6.46% year-on-year, reversing the decline in the previous two years to a certain extent; The industry of new refrigerants and new fire extinguishing agents has developed healthily, and pharmaceutical and veterinary drug enterprises have achieved high efficiency and stable production, creating conditions for the price rise of hexafluoropropylene, its main raw material, to a new high in recent ten years; With China's efforts to build new infrastructure, 5g and electronic circuit board high-tech industries are expected to usher in rapid development. The excellent characteristics of polytetrafluoroethylene and perfluoroethylene propylene anti-corrosion, high temperature resistance and strong weather resistance will play a better role in cable and circuit insulation materials, and the demand in the future is expected to continue to boost.
2. Basic chemical industry
(1) Methane chloride industry
Methane chloride is the product that the hydrogen atom in methane molecule is replaced by chlorine atom. Methane chloride includes monochloromethane, dichloromethane, trichloromethane (also known as chloroform) and tetrachloroethylene. It is a bulk chlorine product second only to vinyl chloride in organic products. It is an important chemical raw material and organic solvent.
Methane chloride is mainly used to produce hydroxymethylcellulose, refrigerants R22 (difluoromethane), R32 (difluoromethane), R245fa (pentafluoropropane), and the rest are used in lithium battery membrane, medicine, pesticide, sponge and other industries. According to the line
