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Essence Securities released a research report saying that Wanhua Chemical (600309.
SH) exceeded expectations and accelerated capital expenditure to accelerate the layout of new materials
.
Essence Securities pointed out that the company is expected to achieve a net profit of 6.
621 billion yuan attributable to the parent in Q1 in 21 years, a year-on-year increase of 380.
82%, exceeding market expectations
.
The main points are as follows:
■Event: Wanhua Chemical released its first quarterly report for 2021 on April 10.
During the reporting period, the company achieved an operating income of 31.
312 billion yuan (+104.
08% year-on-year, +29.
38% month-on-month) and a net profit attributable to the parent of 6.
621 billion yuan (+38.
082 billion year-on-year).
%, +41.
11% MoM)
.
■2021Q1 Wanhua Chemical's performance exceeded expectations.
Under the high price difference, the significant increase in product production and sales year-on-year was the main reason why the net profit attributable to the parent continued to hit a record high in a single quarter
.
■The layout of the new material industry has been shifted and accelerated, and capital expenditure has been accumulated vigorously under the support of steady cash flow
.
■To enter the field of new materials based on the R&D platform-based ability to expand categories, the successful MDI paradigm is expected to be replicated in the long run
.
