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Wanhua Chemical's 1 million ton ethylene project is progressing smoothly and is expected to be officially put into operation in the fourth quarter
.
Significant project cost advantage
Significant project cost advantageThe Wanhua million-ton ethylene project mainly builds an ethylene plant with an annual output of 1 million tons and downstream derivatives.
The cost advantage is outstanding, mainly in: 1) The light hydrocarbon cracking route itself has higher yield than the naphtha and light diesel cracking process, Low cost; 2) Wanhua has strong bargaining power in LPG procurement; 3) The company's huge LPG storage capacity enables it to flexibly respond to price fluctuations in the LPG market and reduce procurement costs
.
The historical back-test result of the profit center of the ethylene project is 2.
763 billion yuan: Using the historical back-testing method, it is predicted that the profit center of Wanhua Chemical's ethylene project is about 2.
763 billion yuan, and the cash flow center is about 4.
023 billion yuan.
Based on the net profit and the cash balance at the end of the period of about 4.
5 billion, the commissioning of the ethylene project will bring the company a performance increase of nearly 30% (long-term annualized), and will also greatly supplement the company's cash flow (long-term annualized)
.
