PTA Moderated Supply And Demand To Improve Profitability

Although the decline of polyester polyester product prices has lowered the profitability of listed companies, the market for raw materials for polyester upstream PTA has changed in 2015, and has improved the profitability of enterprises.

In 2015, the net profit attributable to shareholders of Listed Companies in Hengyi petrochemical company was about 197 million yuan, an increase of 155.79% over the same period last year. The net profit of Rongsheng Petrochemical belonging to shareholders of listed companies was 369 million yuan, an increase of 206.28% over the same period last year. The net profit of the Tong Kun group belonging to shareholders of listed companies was about 115 million yuan, an increase of 3% over the same period last year. The net profit of Huaxi shares belonging to shareholders of listed companies is about 84 million 373 thousand and 200 yuan, up 55.13% over the same period last year. The net profit of Chunhui shares belonging to shareholders of listed companies is about 15 million 533 thousand and 700 yuan, an increase of 107.34% over the same period last year.

Most of these enterprises say that

The main reason is the impact of PTA supply and demand improvement and downstream demand recovery, as well as the increase in gross margin of PTA products.

For example, in 2015, only PTA's revenue increased in the polyester products of Tong Kun, and its PTA revenue reached 73 million 864 thousand and 200 yuan, an increase of 135.75% over the same period last year.

This is related to PTA's unique market in 2015.

At the beginning of 2015, the price of PTA continued to descend under the influence of continuous low international crude oil prices.

However, with the production and liquidation of the 3 million 300 thousand ton / year capacity of the Far East Petrochemical Company in March 2015 and the explosion of Gure aromatics plant during the Qingming Festival, the situation of serious oversupply of PTA products was alleviated to a certain extent, and the pattern of PTA market after April 2015 was completely changed.

According to statistics, in 2015, domestic PTA production capacity was 7 million 80 thousand tons.

Including the largest in China

Yisheng also stopped Ningbo's 600 thousand tons / year installation.

In 2015, the PTA plant operating rate was about 75%, and sales increased by 6% over the same period last year.

Although the price of PTA has not been significantly improved by cost, the profitability of the PTA industry has improved significantly in the four quarter, and has also made it profitable for enterprises to achieve profitability.

Spunlaced independently developed by Huaxi Stock Co., Ltd.

And other products have successfully entered the high-end market in Europe and America.

It will also cooperate with universities and research institutes to further develop new special fibers.

These listed companies and some enterprises that attach importance to fiber varieties, quality and brand development carry out differentiated product research and development strategy, to a certain extent, effectively evade the "price war" of conventional products, showing a strong ability to resist risks and profitability.

Such as Tung Kun's technology research and development project, "the annual output of 400 thousand tons of differential polyester filament technology and series of new product development" project has won the two prize of national science and technology progress and the first prize of science and technology progress of China Textile Industry Federation.

At the same time, most of the key equipment was imported from Germany and Japan, and reached the international first-class equipment level. Excellent equipment provided a strong guarantee for the company's new product development, product differentiation ratio and technological innovation.

Through the implementation of the Hang Lung phase I, Heng Teng two, Heng Rui Jia Yuan and other filament construction projects, Tong Kun further enhanced the production capacity of differentiated and functional fibers.

Tong Kun group said that the company will further improve the differential rate of products and expand the capacity of polyester filament in the future, maintain the market share of products steadily, and continue to consolidate the competitive edge of the market.