Rongsheng Petrochemical released a performance forecast on the evening of January 29. It is expected that the net profit attributable to shareholders of listed companies in 2020 will reach 7.1 billion-7.6 billion yuan, a year-on-year increase of 221.72%-244.38%.
Last year, Rongsheng Petrochemical’s net profit after deducting non-recurring gains and losses was 6.7 billion-7.2 billion yuan, a year-on-year increase of 240.58%-266.00%. Basic earnings per share range from 1.11 yuan/share to 1.19 yuan/share. The announcement stated that during the reporting period, the company’s year-on-year performance increased significantly, mainly due to the smooth progress of the production of each device and the steady increase in operating load after the first phase of the “40 million tons refining and chemical integration project” of its controlling subsidiary Zhejiang Petrochemical Co., Ltd. , the benefits are obviously released.
Rongsheng Petrochemical is one of the leading domestic private refining and chemical integration companies, with its business covering the entire industry chain of refining, aromatics, PTA, and polyester. In 2015, Rongsheng Petrochemical joined forces with Zhejiang Juhua Investment Co., Ltd., Zhejiang Tongkun Investment Co., Ltd. and Zhoushan Marine Comprehensive Development Investment Co., Ltd. to jointly establish Zhejiang Petrochemical Co., Ltd., with Rongsheng Petrochemical holding 51% of the shares.
According to the plan, Zhejiang Petrochemical’s “40 million tons/year refining and chemical integration project” located in Zhoushan Green Petrochemical Base will be carried out in two phases. The total investment in this project exceeds 200 billion yuan. It is not only the world’s largest investment single industry project, but also the largest investment project by a domestic private enterprise so far. On December 31, 2019, the 20 million tons/year oil refining (including 4 million tons/year PX aromatics), 1.4 million tons/year ethylene and downstream chemicals units of the first phase project have fully completed commissioning and commissioning.
Currently, the construction of the second phase of the 20 million tons/year refining and chemical integration project is underway. After the project reaches full production, it is expected that the annual output value will exceed 250 billion yuan, and it can drive 600 billion yuan in the upstream and downstream industrial chains.
Affected by this good news, the company’s stock opened higher in the morning and rose all the way after a slight adjustment. In the afternoon, it became even stronger, fluctuating at a high level near the daily limit, and finally closed at the daily limit. , the price is 37.62 yuan. The editor believes that the market outlook may continue to rise. </p
