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Sinochem News Network reported on July 8 that Jiangsu Thorpe, a leading domestic acetic acid company, issued a performance forecast, stating that the company's net profit in the first half of the year is expected to be 1.
48 billion to 1.
53 billion yuan, an increase of 1.
471 billion to 1.
521 billion compared to the same period of the previous year.
Yuan, an increase of 17307.
67%~17895.
77% year-on-year; it is estimated that the net profit deducted in the first half of the year will be 1.
47 billion~1.
52 billion yuan, an increase of 1.
464 billion~1.
514 billion yuan compared with the same period of the previous year, an increase of 25759.
79%~26639.
38% year-on-year
.
Regarding the reason for the substantial increase in performance, Jiangsu Thorpe said that the company’s net profit attributable to shareholders of listed companies was 8.
502 million yuan in the same period last year due to the impact of the epidemic
.
In the first half of this year, the domestic epidemic was under control, the market supply and demand relationship improved, and the domestic chemical industry was booming.
It is understood that Jiangsu Thorpe’s current main business includes the production and sales of glacial acetic acid, ethyl acetate, sulfuric acid, ADC/XPE/IXPE foaming agents and other products
.
Among them, the designed production capacity of acetic acid is 1.
In 2020, due to the impact of the epidemic, the obstruction of foreign trade exports, the sharp drop in crude oil prices and the combination of periodic maintenance and parking, Jiangsu Thorpe’s production and sales volume and product prices have dropped significantly in the first three quarters, resulting in the company’s first three quarters of 2020.
The quarterly operating results failed to complete the timing schedule, and there was a larger drop than expected
.
Entering the second half of 2020, all industries will resume work and production, and Jiangsu Thorpe's main product market has also steadily recovered
At the beginning of 2021, the United States suffered from an extremely cold climate, including acetic acid and other related equipment, and there were varying degrees of production cuts or shutdowns, and the industry was in a state of tight balance
.
In this context, the price of acetic acid has risen sharply
Driven by the surge in the price of acetic acid, Jiangsu Thorpe’s net profit for the first quarter of this year increased by 1034.
38% year-on-year, reaching 546 million yuan
.
It can be seen from the semi-annual report that the second quarter performance is better than the first quarter
With the rapid increase in performance, Jiangsu Thorpe has also been favored by the capital market
.
In the morning of July 9, Jiangsu Thorpe opened the daily limit with a single limit of more than 280,000 lots
