Economic operation of Jiangsu petrochemical industry in the third quarter of 2022

(1) Industry operations strive to maintain a stable development trend

In 2022, Jiangsu Petrochemical Industry strives to maintain a stable development trend, but due to factors such as the high base of the previous year and the lack of downstream demand boost, the downward pressure continues to increase, and the industry operation has seen a slight increase in operating income and a decline in industrial added value and total profit
.

By the end of September, there were 2,605 petrochemical enterprises above designated size in the province, a decrease of 95 from the end of the previous year
.
In the first three quarters, the enterprises on the scale achieved operating income of 1.
034695 billion yuan, a year-on-year increase of 6.
83%; The total profit was 74.
585 billion yuan, down 30.
90% from the same period last year; The operating income margin was 7.
21%, down 3.
94 points
year-on-year.
Among them, the operating income in September was 119.
332 billion yuan, a year-on-year increase of 2.
56%; total profit was 5.
220 billion yuan, down 48.
08% year-on-year; The operating income margin was 4.
37%, down 4.
27 percentage points
year-on-year.
The operating income of the petrochemical industry accounted for 8.
86% of the province's industry, an increase of 0.
03 percentage points year-on-year; while the total profit accounted for 12.
16% of the province's industry, down 3.
55 percentage points year-on-year, dragging down the province's industrial profit by 4.
85 percentage points
.

In the first nine months, the added value of petroleum processing, coking and nuclear fuel processing industries, chemical raw materials and chemical products manufacturing industries decreased by 4.
9% and 2.
5% respectively year-on-year.
Among them, September increased by 2.
6% and 8.
4% year-on-year, respectively, continuing the recovery trend since July
.

Since 2018, the growth of the operating income and total profit of enterprises in the petrochemical industry in Jiangsu Province

Since 2018, the operating income profit margin of enterprises in the petrochemical industry in Jiangsu Province

Compared with the province's industry as a whole, the main economic operation indicators of the petrochemical industry are superior except for the year-on-year growth rate of total profit: the year-on-year growth rate of operating income is 0.
33 percentage points ahead, the total profit is 20.
20 percentage points wider than the year-on-year decline, the profit margin of operating income is 1.
96 percentage points higher than that of the industry as a whole, and the industry loss is 4.
32 percentage points
lower than that of the industry as a whole.

Differentiation between industries is emerging
.
The operating income of most major industry segments still maintained growth, while the total profit declined, but there was still a certain differentiation
.
The revenue and total profit of agriculture-related pesticides and fertilizer industries still maintained relatively rapid growth, but refined petroleum products, basic chemical raw materials, special chemicals and other industries experienced an increase in total revenue and a decrease in total profits, while the operating income and total profit of coatings, inks, pigments and similar products, synthetic materials and rubber products both declined
.
Specifically:

The economic benefits of the main sub-industries of the petrochemical industry in Jiangsu Province in the first September of 2022

The supporting role of backbone enterprises is better
.
Yangnong Chemical achieved operating income of 13.
1 billion yuan and profit of 1.
638 billion yuan, a year-on-year increase of 41.
77% and 61.
33% respectively; Jiangshan achieved operating income of 7.
1 billion yuan and profit of 1.
689 billion yuan, a year-on-year increase of 48.
12% and 221.
86% respectively; Limin achieved operating income of 4.
042 billion yuan and profit of 179 million yuan, a year-on-year increase of 9.
21% and a decrease of 33.
69% respectively; Changqing achieved operating income of 3.
291 billion yuan and profit of 301 million yuan, a year-on-year increase of 26.
56% and 27.
71% respectively; Zhongqi achieved operating income of 2.
165 billion yuan and profit of 299 million yuan, a year-on-year increase of 43.
55% and 136.
94% respectively; Jiangsu Thorpe achieved operating income of 6.
008 billion yuan and profit of 710 million yuan, a year-on-year increase of 2.
58% and a decrease of 67.
01% respectively; Su Yanjingshen achieved operating income of 4.
47 billion yuan and profit of 692 million yuan, a year-on-year increase of 29.
69% and 201.
83% respectively; Longpan Technology achieved operating income of 9.
939 billion yuan and profit of 708 million yuan, a year-on-year increase of 329.
27% and 264.
62% respectively; Huachang Chemical achieved operating income of 7.
105 billion yuan and profit of 759 million yuan, down 0.
98% and 47.
27% respectively year-on-year; CR Materials achieved operating income of 13.
01 billion yuan and profit of 688 million yuan, a year-on-year increase of 40.
89% and 96.
41% respectively; Baichuan Co.
, Ltd.
achieved operating income of 3.
043 billion yuan and profit of 120 million yuan, a year-on-year increase of 0.
25% and a decrease of 3.
85% respectively; Acetate achieved operating income of 2.
78 billion yuan and profit of 323 million yuan, a year-on-year increase of 31.
42% and 226.
65% respectively; Subote achieved operating income of 2.
715 billion yuan and profit of 235 million yuan, down 16.
02% and 35.
8% respectively year-on-year; Arcoli achieved operating income of 577 million yuan and profit of 104 million yuan, down 9.
73% and 52.
06% year-on-year, respectively; Yake Technology achieved operating income of 3.
167 billion yuan and profit of 463 million yuan, a year-on-year increase of 17.
63% and 18.
88% respectively; Ruitai New Materials achieved operating income of 4.
801 billion yuan and profit of 662 million yuan, a year-on-year increase of 51.
66% and 76.
03% respectively; Jinhong Gas achieved operating income of 1.
437 billion yuan and profit of 169 million yuan, a year-on-year increase of 16.
46% and 34.
47% respectively; Jianghuawei achieved operating income of 695 million yuan and profit of 82 million yuan, a year-on-year increase of 28.
81% and 194.
29%
respectively.

Investment in fixed assets has been sluggish
again.
Benefiting from the accelerated implementation of the measures of "steady-mindedness and steady progress" since the beginning of this year, as well as the impact of the low base of the previous year, the fixed asset investment in the industry recovered year-on-year at the beginning of the year, but it was affected by the escalation of epidemic prevention and control since March, and it was sluggish
again.
In the first 9 months, the original price of fixed assets in the province's petrochemical industry increased by only 3.
99% year-on-year, which was lower than the general annual depreciation rate
of chemical plants.

Industry losses are still high
.
By the end of September, the number of loss-making enterprises above designated size was 542, an increase of 115 year-on-year; The loss of loss-making enterprises was 8.
716 billion yuan, an increase of 87.
97% over the same period last year; The loss was 20.
81%, an increase of 4.
27 percentage points
over the same period of the previous year.

Loss-making enterprises in the petrochemical industry in Jiangsu Province

(2) The downward pressure on industry production is great

Affected by the impact of the epidemic and sluggish downstream demand, the downward pressure on industry production was great, and product output declined
year-on-year.

In terms of basic chemical raw materials, the output of caustic soda was mostly lower than the same period
of the previous year.
In the first 9 months, sulfuric acid production was 2.
1291 million tons, down 17.
1% year-on-year; hydrochloric acid production was 470,800 tons, down 5.
5% year-on-year; caustic soda production was 2.
3475 million tons, a year-on-year increase of 8.
3%; The production of soda ash was 2.
7928 million tons, down 22.
2%
year-on-year.
The production of synthetic ammonia was 1.
8958 million tons, down 10.
0%
year-on-year.

In terms of agricultural materials, pesticides benefited from a steady increase in demand rigidity, while fertilizers continued to be sluggish
.
In the first 9 months, fertilizer production was 1.
2119 million tons, down 10.
8% year-on-year (of which: urea output was 698,700 tons, down 11.
7% year-on-year); The production of chemical pesticides was 448,900 tons, a year-on-year increase of 6.
5%.

In terms of oil processing, it is limited by cost pressure and negative operation
.
In the first September, crude oil processing volume was 27.
680 million tons, down 7.
2%
year-on-year.
production of gasoline was 5.
411 million tons, down 7.
5% year-on-year; kerosene 1.
762 million tons, down 23.
0% year-on-year; fuel oil was 3.
037 million tons, a year-on-year increase of 4.
8%; naphtha 2.
876 million tons, a year-on-year increase of 1.
4%; petroleum bitumen 2.
155 million tons, down 24.
4% year-on-year; pure benzene 505,100 tons, down 15.
6% year-on-year; Ethylene was 2.
516 million tons, down 5.
4%
year-on-year.

In the first September of 2022, the output of some major products of the petroleum and chemical industry in the province

(3) The downward pressure of import and export has increased

In 2022, the import and export of petroleum and chemical industries in our province will continue to maintain rapid growth, but the growth rate will gradually decline; The import and export of half of the categories of products showed a decrease
in quantity and an increase in value.
Since the second half of the year, import volatility has rebounded, and exports have begun to decline
as pre-orders are gradually cleared.

In the first 9 months, the petroleum and chemical industry in the province achieved a total import and export volume of 78.
788 billion US dollars, a year-on-year increase of 18.
01%; The trade surplus was $1.
087 billion, compared with a deficit of $4.
908 billion
in the same period last year.
Among them, the total import and export volume of the chemical industry reached 66.
886 billion US dollars, a year-on-year increase of 17.
25%; The trade surplus was US$7.
751 billion, an increase of US$7.
641 billion
year-on-year.

Exports: In the first 9 months, the cumulative export of the petroleum and chemical industry in the province was 39.
938 billion US dollars, a year-on-year increase of 29.
13%; Among them, exports in September were 4.
340 billion US dollars, a year-on-year increase of 18.
96%.

The cumulative export of the chemical industry was 37.
318 billion US dollars, a year-on-year increase of 30.
59%; Among them, exports in September were 3.
9793 billion US dollars, a year-on-year increase of 18.
23%.

Organic chemicals remained the largest export product category, accounting for 38.
30% of the industry's total exports; It is followed by inorganic chemicals, special chemicals and synthetic resins, accounting for 11.
54%, 9.
89% and 7.
98% of the total exports of the industry
, respectively.

In terms of imports: in the first 9 months, the province's petroleum and chemical industry imported a total of 38.
851 billion US dollars, a year-on-year increase of 8.
41%; Among them, imports in September were 4.
217 billion US dollars, a year-on-year increase of 6.
04%.

The cumulative import of the chemical industry was 29.
568 billion US dollars, a year-on-year increase of 3.
86%; Among them, imports in September were 3.
077 billion US dollars, a year-on-year increase of 0.
78%.

Organic chemicals are the largest imported product category, accounting for 27.
18% of the total import value of the industry; It is followed by oil and gas, synthetic resins and specialty chemicals, accounting for 14.
29%, 12.
41% and 10.
47% of the total imports of the industry
, respectively.

Import and export of petroleum and chemical products at Jiangsu Port since 2019

Import and export of major product categories of petroleum and chemical industry in Jiangsu in the first September of 2022