China Drying Network Co., Ltd. has weak demand for information and profits, and the overall profitability of the chemical industry is currently at a low level in history. After statistics of the interim results of the chemical industry, it was found that more than half of the companies expected the net profit in the first half of the year to decline year-on-year. Compared with the same period of last year, the loss of the chemical industry is expanding, and earnings have shrunk substantially. At the same time, the sub-sector’s boom has become more pronounced. Compared with the same period of last year, the average net profit of chemical listed companies declined significantly. The reporter found that the average net profit of the 179 chemical listed companies mentioned above was 34.15 million yuan, a sharp drop of nearly 60% compared with 81.19 million yuan in the same period last year.
Statistics show that of the 179 listed chemical companies that have announced half-year results, a total of 97 companies expect the interim net profit to decline or remain flat year-on-year, accounting for 54% of the total. There are 40 companies expecting a net profit loss in the same period; Of the listed chemical companies that announced the interim results forecast, only 53 companies expect the net profit in the interim period to decrease year-on-year, and 17 companies expect that the net profit will be at a loss.
From the perspective of specific industry classifications, the companies whose performance in the mid-year report is declining are mainly concentrated in chemical sub-sectors such as two alkalis, polyurethanes, polyesters, and spandex. According to the statistics of the Securities Times Network Data Department, 10 out of the 11 two-alkali companies that announced the performance forecast are expected to see a decline in their net profit for the first half of the year. Among them, the net profit of Qingdao Alkali, which mainly produces soda ash and soda, plummeted by 2447% year-on-year. 14 Of the listed polyester and spandex listed companies that announced their performance forecasts, as many as 11 predicted net profits declined year-on-year, ranging from 50% to 679%. The polyurethane industry is profitable overall, but due to the large number of performance bases in the same period last year, most polyurethane companies Performance still fell from 25% to 155%. The year-on-year decline in performance forecasts also included sub-sectors such as viscose, inorganic salt, fluorinated workers, and synthetic leather.
In contrast, the performance of chemical sub-sectors such as civil explosives, pesticides, and compound fertilizers achieved steady growth. According to statistics, the seven civil explosion companies that have announced their performance forecasts are all profitable in the first half of the year, and there are five companies with a year-on-year increase in net profit, but the growth rate of performance has generally declined.
Unlike other chemical products, the ex-factory price of civilian explosive products is limited by the state. The staff of the office of the thunder and detonation department secretary told the reporter that the average price of raw materials for ammonium nitrate in the first half of this year has declined compared to the same period of last year. Under the condition that the overall demand is stable, it is expected that the performance of civil explosion enterprises with open-pit mines as the main downstream will be better than that with coal mines. Downstream civilian explosions.
In addition to the civil explosion industry, the pesticides, nitrogen fertilizers, and compound fertilizers industries in the first half of the year also maintained a relatively high degree of prosperity. This was attributed to the increase in the cultivation area of ​​the world's major economic crops, and the increasingly stringent environmental protection review in the pesticide and fertilizer industries. The performance forecast shows that almost all pesticides and compound fertilizer listed companies' net profit in the medium term realized profits, and more than 80% of the company's performance increased year-on-year. Many companies have significantly benefited from rising prices of products such as glyphosate and intermediates for chemical raw materials.
Taking the urea industry as an example, despite a serious excess of domestic nitrogen fertilizer production capacity, with the increase in the price index of agricultural products in the first half of this year, coupled with high energy prices, the prosperity of urea products is also rising.
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