Hengli Petrochemical Made A Record High Profit In The First Half Of The Year, Exceeding 4 Billion Yuan.

Recently, Hengli Formosa Petrochemical Co (hereinafter referred to as "Hengli petrochemical") issued a semi annual report in 2019. The company's operating income in the first half of the year was 42 billion 333 million yuan, an increase of 60.04% over the same period last year. The net profit attributable to shareholders of listed companies was 4 billion 21 million yuan, an increase of 113.62% over the same period last year.

During the reporting period, Hengli petrochemical "polyester +PTA" industrial chain business maintained a relatively good profitability, especially in the context of continuous improvement in the supply and demand fundamentals of the PTA industry, tight market supply and continuous maintenance of the price range. The business profit growth was obvious. In addition, Hengli Petrochemical high end polyester business also maintained a reasonable profit level. On the other hand, its 20 million ton / year refining and chemical integration project has been put into full operation in the reporting period, and has begun to contribute to the company.

Everbright Securities Limited by Share Ltd researcher analysis, 20 million tons / year refining and chemical projects put into operation, the future profit growth can be expected to report the period, Hengli refining and chemical projects have been fully put into operation, marking the company "crude oil -PX-PTA- polyester" industrial chain formed. In the first half of this year, Hengli refining and chemical industry achieved a net profit of 1 billion 361 million yuan. The company's next 1 million 500 thousand ton / year ethylene project is under construction. The project uses some products from the refining and chemical project as raw materials, and produces ethylene glycol, polyethylene and other chemical raw materials or products. It has better economic benefits and will further enhance the profitability of the company.

It is understood that, as the earliest and fastest industry leader in the implementation of the strategic development of polyester chemical fiber industry chain, Hengli Petrochemical Co., Ltd. has developed a global platform for the whole industry chain of "crude oil arene, olefin PTA, ethylene glycol polyester household silk, industrial yarn, polyester film and engineering plastics", and vigorously expanded the high-end production capacity of the upstream and downstream industries.