According to the first quarter report of 2020 disclosed by Xinjiang Tianye (600075. SH) on the 30th, in the first quarter, the average selling price of Xinjiang Tianye's main product paste resin reached 7200 yuan / ton, an increase of 35.39% compared with the same period in 2019, which is far higher than other major products. In addition, Tianwei Chemical Co., Ltd., a subsidiary of Tianwei Chemical Co., Ltd., exceeded the expected production, with a paste resin output of 28500 tons, an increase of 13000 tons on a year-on-year basis. Although the sales volume decreased slightly, it still realized an increase of 33.08 million yuan.
In the first quarter of this year, Xinjiang Tianye achieved an operating revenue of 840 million yuan and a net profit of 23.19 million yuan.
It is reported that the development trend of high-end, multi variety and differentiation in PVC industry is increasingly significant, and paste resin has become an important product in PVC industry. At present, the downstream consumption fields of paste resin are mainly artificial leather and gloves, and the application fields are expanding. Depending on its stable consumption fields, the supply-demand relationship of paste resin is stable, and the product profitability is prominent.
In the current quarter, the average selling price of special PVC products of Xinjiang Tianye also increased by 4.01%. Although the output of special PVC products remained stable, the sales volume fell year on year under the influence of the epidemic.
According to the opinions of many institutions, the price of PVC market will continue to fluctuate in the near future. The positive factors supporting the price include: some PVC enterprises have maintenance plans, and the supply side is favorable to some extent; the price of raw calcium carbide has declined, but the cost side of some regions is still supported; the country has issued policies, and the fund side is loose, etc.
Talking about the latest changes in PVC industry, Xinjiang Tianye summarized it as the coexistence of opportunities and challenges. In particular, supply side reform, environmental protection supervision and safety improvement have effectively optimized the supply side of the industry, a large number of parks and enterprises with serious safety and environmental protection problems will be eliminated, and the industry is expected to usher in a round of supply contraction.
Specifically, the production capacity of PVC industry will be concentrated in high-quality parks and leading enterprises, many leading enterprises will start a new round of capacity expansion, but the overcapacity phenomenon of some branch industries still exists, low efficiency, backwardness, discharge substandard production capacity needs to continue to withdraw from the market, advanced production technology, strong cost control ability, with new technology R & D ability and differentiated product development ability p VC enterprises will have more and more advantages in the supply side reform.
According to the production and sales data of other major products of the company in the first quarter, the sales of electricity, steam and calcium carbide products have achieved different degrees of growth compared with the same period last year. Among them, in the face of the adverse factors of price decline, the electric and automobile products realized the supplement of price by quantity, with a total increase of 73.33 million yuan; under the condition of a small increase in price, the sales volume of calcium carbide products increased by more than three times, with an increase of 117 million yuan.
For Xinjiang Tianye, the current number one project is to promote the acquisition of Tianneng chemical's major asset restructuring. At present, the matter has been approved by the CSRC. Through this acquisition, Xinjiang Tianye was able to extend the industrial chain from special PVC to ordinary PVC, and increase the supply of PVC varieties under the condition of further enhancing the industrial chain coordination.
Xinjiang Tianye has an annual production capacity of 200000 tons of special PVC (including 100000 tons of paste resin) and 450000 tons of ordinary PVC of Tianneng Chemical Co., Ltd., which will greatly improve the capacity of the company after the acquisition.
In the latest announcement, Xinjiang Tianye said that the company actively organized the implementation of various related work on major asset restructuring matters, determined April 30, 2020 as the asset delivery date and audit benchmark date, and was in the process of handling the equity transfer procedures of Tianneng chemical. In addition, Tianye Group, the controlling shareholder of Xinjiang Tianye Group, has made breakthrough progress in promoting PVC modification technology, and the collaborative development advantages of Xinjiang Tianye and Tianye Group will be more obvious in the future.
In 2019, the total global consumption of PVC will reach 47 million tons. According to the data forecast, the demand of PVC market will gradually improve, with a compound annual growth rate of 3.3% in the next six years. The downstream consumption fields are mainly in pipe, profile, film, wire and cable, floor leather, etc. Among them, demand growth in emerging markets such as India and Vietnam is even stronger.
The 600000 T / a glycol project of the first phase of the 1 million T / a syngas to low carbon alcohol project, which Xinjiang Tianye and Tianye Group cooperate, is also the focus of the capital market. Xinjiang Tian said that at present, the design work, equipment ordering and civil construction of the project have been completed, and the installation work is close to the end. The core devices and working sections have entered the single commissioning, and the auxiliary devices have realized the joint commissioning and joint test.
In novel coronavirus, the project investment of glycol project was normally carried out according to the announcement of the project. However, the progress of the commissioning of the project was postponed in the first quarter of this year, and has been fully resumed until now, and the trial operation of the project has been put into operation as early as possible, so as to promote the formation of the multi industry development and multi pole support industrial structure. "Xinjiang's"
Click "looking" and give me a little yellow flower