Wanhua Q3 Results
Wanhua Chemical Announces Its Major Operating Data for the Third Quarter
PUdaily, Shanghai– Wanhua Chemical’s board of directors and all the directors guarantee that this announcement does not contain any falsehoods, misleading statements or major omissions, and assumes joint and several liabilities for the authenticity, accuracy and completeness of the contents.
According to the No.18 Guidelines on Industry Operating Information Disclosure by Listed Companies for Chemical Industry and the Circular on Requirements for Releasing the Third-Quarter Report by Listed Companies, both of which were issued by Shanghai Stock Exchange, Wanhua Chemical Group Co.,Ltd. (hereinafter referred to as the Company) now release the major operating data for the third quarter of 2017 as follows:
1. Production, sales and revenue of major products from January to September
|Major products||Production (tons)||Sales (tons)||Operating income (10,000 yuan)|
|Petrochemical series||1,347,196||2,531,853 (including LPG trade)||1,075,870|
|Fine chemicals and new materials series||181,296||172,726||302,099|
Note: considering the Company’s strategic plan and the fact that functional materials series and specialty chemicals series are categories featuring high added value and customization, both series are merged into fine chemicals and new materials series.
2. Changes in prices of major products and raw materials;
(a). Changes in prices of major products
(1) MDI products
During the reporting period, with a tight supply in the overall MDI market, the prices stayed high and saw a significant increase compared with the same period last year. The list prices of MDI products for January to September are as follows: (RMB/ton)
|Polymeric MDI||2017||22,000||24,000||26,000||25,500||23,000||23,000||23,000||24,000 Note 1||28,500 Note 2|
Note 1: According to the Announcement on Price Increase for PMDI Distribution Channels in China in August 2017, which was issued by the Company on August 22, 2017, the list price of PMDI was raised to 29,000 RMB/ton on August 22.
Note 2: According to the Announcement on Price Increase for PMDI Distribution Channels in China in September 2017, which was issued by the Company on September 12, 2017, the list price of PMDI was raised to 35,000 RMB/ton on September 12.
(2). Petrochemical products
In the third quarter of 2017,all petrochemical products saw different price increase from the same period last year, which is largely consistent with the sharp increase in crude oil price. In the third quarter, the average price of propylene in Shandong was 7,580 RMB/ton, up 12% compared with the second quarter and 14.3% compared with the same period last year. The average price of the propylene oxide in east China was 11,292 RMB/ton, up 14.6% quarter on quarter, and 12.7% year over year. The average price of butanol in east China was 7,658 RMB/ton, up 25.1% from the second quarter and 41.1% year on year. The average price of acrylic acid in east China was 8,247 RMB/ton, up 10.6% on a sequential basis and 36.3% against the previous year. The average price of butyl acrylate in east China was 10,378 RMB/ton, up 17.9% on a sequential basis and 46.3% from a year earlier. And the average price of imported NPG prepared using hydrogenation in east China was 15,586 RMB/ton, up 5.1% from the second quarter, and 63.4% from the year before.
(b) The changes in prices of major raw materials
In the third quarter of 2017, the average price of domestic benzene was about 6,200 RMB/ton, remaining relatively stable. In July and August, new facilities in Shandong were put into operation, which resulted in relatively abundant domestic supply. Thus, the price of benzene remained at 100 RMB/ton. In September, the price rose to about 6,300 RMB/ton due to abnormalities in some upstream facilities.
The coal supply continued to be tight in the third quarter of 2017 due to the impact of supply-side reform, the continued restriction on production and safety inspection in coal industry. As a result, the coal price continued to rise. In the third quarter, the purchase price of coal rose by almost 30% compared with the same period last year.
(3). Propane and butane
In the third quarter, the international liquid gas market recovered quickly after a brief correction in July, resulting in a strong market in August and September. August saw a contract price of 420 USD/ton for propane, up 21.7% on a month-on-month basis, and 460 USD/ton for butane, up 26.0% from the previous month. September saw a contract price of 480 USD/ton for propane, up 14.3% on a month-on-month basis, and 500 USD/ton for butane, up 8.7% from the previous month.
3. There were no other matters that have a significant impact on the production and operation of the Company during the reporting period.
The above production and operation data are unaudited. Thus, investors should take care when using them and notice the investment risks.
It is hereby notified the above.
Wanhua Chemical Group Co.,Ltd.
October 14, 2017
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