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Wanhua Chemical, the world's largest MDI producer, recently released its first quarterly report for 2021
.
Judging from the operating data disclosed by the company in the first quarter, the increase in the price of MDI and petrochemical products and the increase in sales volume are one of the reasons for the substantial growth in the company's performance
.
The price of many products has risen significantly
The price of many products has risen significantlyFor the substantial increase in operating income in the first quarter of this year, the company bluntly stated in the announcement that it was due to the increase in product prices and sales in the current period
.
Specifically, in the first quarter, the company produced 957,983 tons of polyurethane series, with a sales volume of 924,357 tons, and realized an operating income of 13.
758 billion yuan; the output of petrochemical series was 863,219 tons, with a sales volume of 2,349,957 tons, and an operating income of 12.
06 billion yuan; the output of fine chemicals and new materials series was 174,720 yuan tons, the sales volume was 164,482 tons, and the operating income was 3.
017 billion yuan
.
It is worth noting that in the first quarter of this year, the company raised MDI prices in China in March
.
In addition, the company's petrochemical product prices rose significantly
.
However, the rising trend of the prices of the main raw materials required for the company's production is also evident
.
Last year's net profit exceeded 10 billion
Last year's net profit exceeded 10 billionWanhua Chemical was listed on the Shanghai Stock Exchange in 2001.
The company is mainly engaged in polyurethane (MDI, TDI, polyether polyol), ethylene, propylene and its downstream HDPE, LLDPE, PP, PVC, acrylic acid, propylene oxide and other petrochemical products, SAP , TPU, PC, PMMA, organic amine, ADI, water-based coatings and other fine chemicals and research and development, production and sales of new materials
.
Among them, MDI and TDI are one of the most important raw materials for the preparation of polyurethane.
Polyurethane has the dual advantages of rubber and plastic, and is widely used in chemical industry, light industry, textile, construction, home appliances, building materials, transportation and other fields
.
The company has now developed into a highly competitive supplier of polyurethane, petrochemicals, fine chemicals and new materials, a world-leading MDI supplier and service provider, and a global mainstream supplier of TDI, ADI, polyether, TPU and other products
.
In fact, Wanhua Chemical is regarded by the industry as the world's largest MDI producer.
However, due to the impact of the epidemic in the first half of last year, the company's performance in 2020 has declined
.
On the evening of March 15, Wanhua Chemical released its 2020 annual report
.
The company achieved sales revenue of 73.
433 billion yuan last year, a year-on-year increase of 7.
91%; net profit attributable to shareholders of listed companies was 10.
041 billion yuan, a year-on-year decrease of 0.
87%
.
Entering the second half of 2020, the company's operations recovered rapidly
.
Wanhua Chemical said that during the reporting period, due to the easing of the epidemic in the second half of the year, the increase in demand drove the market to improve, and the annual operating income increased year-on-year
.
It is worth noting that Wanhua Chemical recently announced that it will cut MDI prices in China in April
.
The company announced on March 30 that starting from April 2021, the listed price of the company’s aggregated MDI distribution market in China will be 25,500 yuan/ton (down 2,500 yuan/ton from the price in March), and the listing price in the direct sales market will be 25,500 yuan/ton (compared to the price in March).
The price in March was reduced by 2,500 yuan/ton); the listing price of pure MDI was 28,000 yuan/ton (no change compared with March)
.
On the other hand, Wanhua Chemical has increased its investment in petrochemical projects
.
Wanhua Chemical announced on the evening of March 24 that the company invested 2.
4 billion yuan in cash to jointly establish Wanhua Chemical (Fujian) New Materials Co.
, Ltd.
(planned) with Ningbo Zhongtao Investment Co.
, Ltd.
and held 80% of the shares.
In the future, the company will be responsible for promoting the petrochemical industry chain project planned by Wanhua Chemical in the east area of Jiangyin Gangcheng Economic Zone, Fujian
.
According to the company's plan, the petrochemical industry chain will be planned in the east area of Jiangyin Gangcheng Economic Zone (hereinafter referred to as "East Area") in the future, and the PDH propane dehydrogenation to propylene and the downstream industry chain of propylene will be preliminarily planned.
The petrochemical resources in the east area can be used to form the west area project.
The source of raw materials can realize the interconnection between the east area and the west area.
The east and west areas supply each other with upstream and downstream raw materials, share the basic supporting facilities, and maximize the benefits of the park
.
