According to the performance forecast released on January 20, the expected net profit in 2021 is about 2.15 billion yuan – 2.35 billion yuan, a year-on-year increase of 256.52% – 289.69%; Compared with the same period of the previous year, the net profit excluding non recurring profits and losses will increase by 1.67 billion yuan to 1.86 billion yuan, a year-on-year increase of 419.87% to 467.59%.
The company said that the reason for the performance change was that during the reporting period, the volume and price of the company’s products rose simultaneously, the price of upstream raw materials showed an upward trend as a whole, which supported the overall rise of the company’s product price, the downstream textile demand continued to grow steadily, the company’s products maintained a good product raw material price difference, and the company’s overall profitability increased significantly compared with the same period of last year; In addition, non recurring gains and losses such as government subsidies and gains and losses on disposal of non current assets received by the company do not have a significant impact on the company’s net profit.
Zhongtai chemical previously released a research report that Xinfengming Group Co.Ltd(603225) has now entered the accelerated stage of capacity expansion, and the company’s profitability has been significantly improved. At present, the company has filament production capacity of 6 million tons / year and PTA annual production capacity of 5 million tons / year. It extends upward to build an integrated PTA filament industrial chain. The filament output ranks among the top three in China’s civil polyester filament industry. At present, the company has developed into an integration of polyester, polyester spinning, texturing and import and export trade, The sales area covers chemical fiber enterprises in more than ten provinces and cities in China and overseas countries and regions.
