Following the performance forecast on January 19, Hongchang Electronics officially released the 2020 performance announcement on April 22: annual operating income was 2.
504 billion yuan, a slight increase of 6.
55% year-on-year; net profit was 224 million yuan, a year-on-year increase of 38.
59%; cash flow The net amount was 322 million yuan, a year-on-year increase of 212%.
There are three main reasons for the growth in performance: 1.
Increase in demand for downstream electronic products; 2.
Increase in product prices; 3.
Increase in performance brought by subsidiary Wuxi Hongren.
Hongchang Electronics, formerly known as Guangzhou Hongchang Electronic Materials Industry Co.
, was changed from a wholly foreign-owned enterprise to a Sino-foreign joint venture in 2007.
It is the only domestic epoxy resin-based company listed on the main board of the com" href="">coatings online coatingol.
In 2018, the company completed the construction of the 80,000 tons/year epoxy resin project of the Zhuhai plant, which can increase by 75,000 tons through technological transformation.
After the technical transformation is completed in 2020, the production capacity will reach 155,000 tons/year.
The main products of Hongchang Electronics include basic liquid resin, solid resin, electronic grade epoxy resin and modified special epoxy resin.
The announcement shows that in 2020, Hongchang Electronics will produce 95,500 tons of epoxy resin, sales of 96,500 tons, and epoxy resin segment revenue of 1.
696 billion yuan, with a profit margin of 15%.
The average selling price of epoxy resin in 2020 is 17,900 yuan/ton.
(The average price of East China liquid resin in 2020 is 20,400 yuan/ton)
Main raw material prices of Hongchang Electronics