Hengyi Petrochemical 400 Thousand Tons / Year Caprolactam Expansion And Transformation Put Into Operation, Entered A New Round Of Performance Growth Period.

The global fiber tap, Hengyi Petrochemical (hereinafter referred to as "Hengyi petrochemical") has recently announced that the "400 thousand tons / year caprolactam expansion project" invested by the company's Balin Heng Yi caprolactam Co., Ltd. (hereinafter referred to as "caprolactam company") has been completed and put into operation in the near future, and the caprolactam company's caprolactam production capacity reaches 400 thousand tons / year now. "Zhejiang,"

Hengyi Petrochemical has invested 2 billion 478 million yuan to build the caprolactam company's production and operation. It will also increase the production capacity and output of the caprolactam product, reduce the operation cost and the unit production cost of caprolactam, promote the structure optimization of caprolactam, expand the market gap of high-end products, enhance the market competitiveness of caprolactam products, increase the profit growth of caprolactam products, enhance the overall profitability of the company, consolidate and enhance the leading position of the company's industry, and realize the two wheel drive of the company's industrial chain.

Heng Yi Petrochemical said that Future Ltd will further consolidate and enhance the core competitiveness of petrochemical chemical fiber main business, and promote the continuous growth of shareholders' interests.

It is understood that caprolactam as one of the important organic chemical raw materials is closely related to the rapid development of national economy and people's life. The production process is mainly composed of polyamide 6 chips by polymerization, and further processed into polyamide fibers, engineering plastics and plastic films, which are widely used in machinery, automobile, chemical equipment, aviation, metallurgy and other fields. Its wear resistance is the highest in all fibers, 10 times that of cotton.

Yang Lin, a Southwest Securities analyst, said that baling Heng Yi, a subsidiary of Hengyi Petrochemical Company, has an annual capacity of 300 thousand tons of caprolactam, accounting for 8.8% of the domestic capacity. At present, the two phase "465 thousand tons / year caprolactam capacity expansion" project is in progress. In 2018, baling Heng Yi realized business income and net profit of 5 billion 170 million yuan and 333 million yuan respectively, which respectively increased by 23.2% and 1% respectively. In 2018, the new caprolactam production capacity in the nylon board was limited, along with the improvement of supply and demand structure, the "CPL- nylon" industrial chain has entered the business cycle, and the new growth of caprolactam is about to begin. It is expected that in the first half of 2019, there will be a larger margin of interest in the industry chain, and the profit of caprolactam will steadily increase, which will add luster to the company's future performance.

Yang Lin said that Hengyi Petrochemical's current business is mainly concentrated in the petrochemical industry and chemical fiber industry in the middle and lower reaches. The main products include PTA, caprolactam (CPL), polyester (PET) chips, polyester (PET) bottle flake, polyester preoriented yarn (POY), polyester full draft wire (FDY), polyester elastic wire (DTY) and polyester staple fiber. Company ginseng Holdings PTA capacity reached 13 million 500 thousand tons / year, has an equity capacity of 6 million 220 thousand tons / year, has become the world's largest PTA manufacturers; ginseng holding 6 million 300 thousand tons / year polyester production capacity, ranking the world's top.

In addition, Hengyi Petrochemical also controlled caprolactam production capacity of 300 thousand tons / year, the two phase project "465 thousand tons / year caprolactam capacity expansion and transformation" is in progress. Hengyi Petrochemical has gradually formed a multi-level industrial layout through resource sharing and industrial collaboration. The core business is "polyester + nylon" double chain industrial chain production ("crude oil aromatic -PTA- polyester" and "crude benzene -CPL- nylon"); the growth business is Shi Huajin fusion and petrochemical trade; the new business is chemical fiber industry big data, intelligent manufacturing "Petrochemical +".

According to public information, Hengyi group is headquartered in Xiaoshan economic and Technological Development Zone, Hangzhou City, Zhejiang province. It was founded in 1974. It was built in front of the Yamen knitting factory. It began to produce socks. It formally formed a group company in October 1994. After five five years of development planning, the group has gradually formed a production and operation system of chemical fiber spinning, weaving, dyeing and finishing.

Data show that in the first quarter of 2019, Hengyi petrochemical company achieved 20 billion 976 million yuan of operating income, an increase of 73.92% compared with the same period last year, a net profit attributable to the parent company of 423 million yuan, compared with 40.41% in the same period last year. By the end of the first quarter of 2019, the number of shareholders of Hengyi Petrochemical Company reached 22 thousand and 400, down 3 thousand and 800 from the previous period, and decreased by 14.60%, with an average household share of 126 thousand and 300 shares.