Yantai Spandex: Two Main Products Drive Sharp Increase In Performance

In the first quarter of this year, with the increasing market of polyurethane and aramid, the demand for spandex and aramid in two main products of Yantai spandex increased significantly. The price of spandex products rose sharply compared with the same period last year, and the sales volume of the spandex and aramid products increased year by year, making its net profit grow by a large margin.

According to the announcement issued by the company, the net profit of the company increased 599.60% in the first quarter compared with the same period last year, and the net profit of the company increased 350-400% in the first half year.

At the beginning of 09, the price of spandex industry continued to go down, and the loss of industry and the lack of start-up rate seriously restricted the development of the company.

Although the demand for the downstream textile industry has picked up since the start of the two quarter, the price of spandex has gradually picked up, but due to limited capacity, the sales of spandex have not increased significantly.

This year, the spandex industry has recovered well and the price of spandex has continued to rise. In April, the company's total factory price of spandex 40D increased by 2000-3000 yuan / ton, spandex price reached 60000 yuan / ton, up nearly 5 from the same period last year. At the same time, because of the most difficult period affected by the economic crisis, the sales of spandex also increased significantly.

Aramid products, due to the impact of the economic crisis last year, the company's exports to Europe and the United States aramid exports fell sharply, or even more than 50%, coupled with the impact of foreign competitors' price promotions, the production and sales prices of aramid were lower than the same period last year. With the recovery of global economy and the rapid recovery of demand for aramid market, the company received a significant increase in Aramid order from abroad, an increase of more than 60% over the same period last year.

Affected by this, the aramid boot rate increased rapidly from 50% in 09 to 100% at present. Production and sales volume increased significantly compared with the same period last year, and profitability rapidly rebounded.

The rise in the volume and price of two leading products, spandex and aramid, is a strong boost to the company's performance. From the company's announcement, the net profit in the first quarter of this year increased by 599.60%. In the first half of this year, the company's profit increased by 350-400% compared with the same period last year.

It is reported that the company's aramid products include two series of para aramid and meta aramid.

In the 09 year, the annual production capacity of the company is 4300 tons, and the annual capacity has reached 4600 tons after technical pformation.

But with the development of the economic situation and the continuous development of the market, the annual production capacity of 4600 tons has been at full load. The company is strengthening relevant technological pformation and striving to reach 5000 tons of production capacity by October.

And the most representative of the company's technical level of aramid fiber will also be put on the market this year. As the only enterprise that can produce aramid fiber in our country, the products have been widely used in the fields of protection, friction and sealing materials. The production of 1000 tons of para aramid industrialization is being carried out for the purpose of expanding production capacity. After construction and operation, the aramid fiber that has been monopolized by foreign countries will be put on the market in large quantities.

At the same time, in order to continuously expand the market share, the company will enter the peak period of expansion in the next two years.

After investing in 150 million yuan to build an annual production capacity of 5000 tons of medical spandex technical pformation project and 330 million yuan to build 7000 ton comfortable spandex fiber project, the spandex spandex production capacity of Yantai will reach 34 thousand tons / year, ranking third in the whole country.

Especially after the completion of the comfortable spandex project, we will fill in the blank in our field and produce significant economic benefits after putting into operation.

Referring to the future development, Chi Haiping, the company's secretaries, said that the most difficult period affected by the economic crisis has passed. The company has been confident of future development after years of precipitation.

Relying on the only state-level research center in the industry, the company will continue to increase investment in scientific research, while paying attention to the common development of two markets at home and abroad, bringing the company's development to a new level.