Anchor new energy, new materials! Hengli Petrochemical is focusing on projects such as 600,000 tons of BDO and 120,000 tons of PTMEG

On December 12, 2022, Hengli Petrochemical held a briefing meeting for the third quarter of 2022, and the company's chairman and general manager Fan Hongwei, secretary of the board of directors, financial director, etc.
conducted online exchanges
with investors.

In the first three quarters of 2022, Hengli Petrochemical achieved operating income of 170.
357 billion yuan, a year-on-year increase of 12.
46%, a net profit of 6.
087 billion yuan, and basic earnings per share of 0.
86 yuan
.

Since the beginning of this year, affected by the sharp rise in crude oil prices, the cost side of the petrochemical industry has risen sharply, coupled with the lack of global economic growth, the continuous sluggish investment and consumption has affected terminal demand, the downstream inventory of petrochemical products has increased, the price spread of chemical products has continued to narrow, resulting in further compression of industry profits, and the petrochemical industry as a whole is also facing huge operating pressure
.

According to Fan Hongwei, the price of crude oil does not directly determine the price difference and profit of the product, and the profit of related products mainly depends on the supply and demand of various products and market conditions
.
The main source of crude oil procurement of Hengli 20 million tons/year refining and chemical integration project is the Middle East and South America, and the company adopts a flexible way combining long-term and short-term agreements to ensure the reliability of the company's raw material supply and optimize the raw material cost structure
.
The crude oil processed by Hengli Petrochemical Refinery is mainly imported from Saudi Arabia and other Middle Eastern countries, and the company will purchase crude oil in accordance with national policy requirements
.

Hengli Petrochemical said in the third quarterly report of 2022 that on the basis of the "large chemical platform" with unique advantages in the industry, which deeply integrates "oil, coal and chemical", the company relies on the first and second phase of the fine chemical park project to accelerate the construction of a high-end fine chemical industry cluster, and actively promotes the layout
of new energy and new material products including lithium battery separator, electrolyte, PET copper foil base film and photovoltaic backsheet base film.

Hengli Petrochemical's layout in the field of new energy and new material products is also a topic
of concern to investors.
In this regard, Fan Hongwei said that in view of the exponential growth and huge gap in the demand for "stuck neck" and "shortage" new chemical materials generated by the rapid development of China's "new consumption", "new energy" and "hard technology", the company is making full use of the continuous empowerment of the upstream "big chemical" platform and the accumulation of years of downstream "new materials" development, and "top-down" to develop new markets
for downstream chemical new materials.

According to reports, Hengli Petrochemical is anchoring the core track of new energy and new materials, accelerating the layout of incremental demand products including lithium battery separators, electrolytes, PET copper foil base films, photovoltaic backsheet base films and degradable plastics, etc.
, the current key projects under construction include 1.
6 million tons of high-performance resin project, 600,000 tons of BDO, 100,000 tons of succinic acid and 120,000 tons / year PTMEG project, 300,000 tons of adipic acid project, 800,000 tons of functional film and plastic project and 1.
6 billion square meters of lithium battery separator project
。 With the successive commissioning of projects under construction, the R&D attributes, technological content and technical proportion of the company's fine chemicals and new chemical materials business segments will continue to increase
.

Previously, on November 21, Hengli Petrochemical said in response to investors' questions that there is no latest progress
in the second phase of Hengli Refining and Chemical Project.