How is the chemical fiber industry doing?
At the close of the last trading day in 2023, the total market value of 700 Zhejiang stocks was 6.73 trillion yuan, and the chemical fiber industry giant Rongsheng Petrochemical had a market value of 100 billion yuan. Among them, the market value of 25 textile and chemical fiber companies varied throughout the year.
2023 Zhejiang Textile and Chemical Fiber Market Value Ranking (100 million yuan)
How has the textile and chemical fiber industry been doing this year?
As terminal demand is lower than expected, the profit pressure of the chemical fiber industry is still prominent this year, but the profit situation has improved since the third quarter.
Data from the National Bureau of Statistics show that from January to September, the operating income of the chemical fiber industry increased by 2.81% year-on-year. Since August, the cumulative growth rate has turned positive; total profits decreased by 10.86% year-on-year, and the decline was 44.72 percentage points narrower than that from January to June; The revenue profit margin was 1.67%, an increase of 0.51 percentage points from January to June.
In the polyester industry, changes in profitability can be reflected in the performance of leading listed companies.
Hengli Petrochemical Co., Ltd. achieved operating income of 173.112 billion yuan in the first three quarters, a year-on-year increase of 1.62%; the net profit attributable to shareholders of listed companies was 5.701 billion yuan, a year-on-year decrease of 6.34%. In the first half of the year, its revenue fell by 8.16% year-on-year, and its attributable net profit fell by 62.01% year-on-year.
Hengyi Petrochemical Co., Ltd. achieved revenue of 101.529 billion yuan in the first three quarters, a year-on-year decrease of 17.67%; attributable net profit was 206 million yuan, a year-on-year decrease of 84.34%. Among them, revenue in the third quarter was 37.213 billion yuan, a year-on-year decrease of 14.48%; attributable net profit was 130 million yuan, a year-on-year increase of 126.25%. In the first half of the year, its operating income fell by 19.41% year-on-year, and its attributable net profit fell by 95.8% year-on-year.
Tongkun Group Co., Ltd. achieved revenue of 61.742 billion yuan in the first three quarters, a year-on-year increase of 30.84%; attributable net profit was 904 million yuan, a year-on-year decrease of 53.23%. In the first half of the year, its revenue increased by 23.6% year-on-year, and its attributable net profit fell by 95.42% year-on-year.
It can be found that compared with the first half of the year, the decline in net profits of listed polyester companies in the first three quarters has narrowed to varying degrees.
Some listed polyester companies also achieved significant growth in net profits in the first three quarters. Jiangsu Oriental Shenghong Co., Ltd. achieved revenue of 103.642 billion yuan in the first three quarters, a year-on-year increase of 121.89%; attributable net profit was 2.479 billion yuan, a year-on-year increase of 57.15%. In the first half of the year, its revenue increased by 117.91% year-on-year, and its attributable net profit increased by 3.21% year-on-year.
In the same period last year, listed polyester leading companies were generally in a state of loss. By comparison, it can be found that the profitability of polyester leading companies has indeed improved a lot this year. However, overall, the profit pressure of the polyester industry this year is still prominent.
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How has the textile and chemical fiber industry been doing this year?
As terminal demand is lower than expected, the profit pressure of the chemical fiber industry is still prominent this year, but the profit situation has improved since the third quarter.
Data from the National Bureau of Statistics show that from January to September, the operating income of the chemical fiber industry increased by 2.81% year-on-year. Since August, the cumulative growth rate has turned positive; total profits decreased by 10.86% year-on-year, and the decline was 44.72 percentage points narrower than that from January to June; The revenue profit margin was 1.67%, an increase of 0.51 percentage points from January to June.
In the polyester industry, changes in profitability can be reflected in the performance of leading listed companies.
Hengli Petrochemical Co., Ltd. achieved operating income of 173.112 billion yuan in the first three quarters, a year-on-year increase of 1.62%; the net profit attributable to shareholders of listed companies was 5.701 billion yuan, a year-on-year decrease of 6.34%. In the first half of the year, its revenue fell by 8.16% year-on-year, and its attributable net profit fell by 62.01% year-on-year.
Hengyi Petrochemical Co., Ltd. achieved revenue of 101.529 billion yuan in the first three quarters, a year-on-year decrease of 17.67%; attributable net profit was 206 million yuan, a year-on-year decrease of 84.34%. Among them, revenue in the third quarter was 37.213 billion yuan, a year-on-year decrease of 14.48%; attributable net profit was 130 million yuan, a year-on-year increase of 126.25%. In the first half of the year, its operating income fell by 19.41% year-on-year, and its attributable net profit fell by 95.8% year-on-year.
Tongkun Group Co., Ltd. achieved revenue of 61.742 billion yuan in the first three quarters, a year-on-year increase of 30.84%; attributable net profit was 904 million yuan, a year-on-year decrease of 53.23%. In the first half of the year, its revenue increased by 23.6% year-on-year, and its attributable net profit fell by 95.42% year-on-year.
It can be found that compared with the first half of the year, the decline in net profits of listed polyester companies in the first three quarters has narrowed to varying degrees.
Some listed polyester companies also achieved significant growth in net profits in the first three quarters. Jiangsu Oriental Shenghong Co., Ltd. achieved revenue of 103.642 billion yuan in the first three quarters, a year-on-year increase of 121.89%; attributable net profit was 2.479 billion yuan, a year-on-year increase of 57.15%. In the first half of the year, its revenue increased by 117.91% year-on-year, and its attributable net profit increased by 3.21% year-on-year.
In the same period last year, listed polyester leading companies were generally in a state of loss. By comparison, it can be found that the profitability of polyester leading companies has indeed improved a lot this year. However, overall, the profit pressure of the polyester industry this year is still prominent.
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