Fabric Products,Fabric Information,Fabric Factories,Fabric Suppliers Fabric News The first PX ship was unloaded. Hainan Yisheng and the group integrated and invested in Hengming Chemical Fiber! Domestic and foreign layouts are “two-pronged”, and the expansion of chemical fiber giants is on the “fast track” again!

The first PX ship was unloaded. Hainan Yisheng and the group integrated and invested in Hengming Chemical Fiber! Domestic and foreign layouts are “two-pronged”, and the expansion of chemical fiber giants is on the “fast track” again!



“There is no bottom line for a company to grow bigger. It is our common vision to live a few more years and go further.” In September this year In a speech, Qiu Jianlin said. Qiu Jianlin is the chai…

“There is no bottom line for a company to grow bigger. It is our common vision to live a few more years and go further.” In September this year In a speech, Qiu Jianlin said.

Qiu Jianlin is the chairman of Hengyi Group. The petrochemical boss, who speaks calmly and restrainedly, is leading Hengyi to expand rapidly. Brunei has become the focus of overseas expansion.

It is reported that Hengyi Brunei PMB petrochemical project is located in Muara Island, Brunei Darussalam. It is the first overseas large-scale petrochemical project to fully implement Chinese standards. , is also a flagship cooperation project clearly stated in the “Joint Communique” between China and Brunei, in which the company holds 70% of the shares and the Brunei government holds 30%. The total planned investment in the first phase of the project is US$3.45 billion.

It is close to full capacity in just one month! Hengyi Brunei’s first ship of PX unloaded Hainan Yisheng

At 5 a.m. on December 4, the first ship of PX chemical products produced by Hengyi Brunei’s PMB petrochemical project was unloaded at Hainan Yisheng The downstream factory Hainan Yisheng’s self-built terminal successfully completed unloading.

Following the completion of the entire factory process and full production on November 3, Hengyi Brunei project has reached close to full capacity in just one month.

Gong Yanhong, Financial Director of Hainan Yisheng, said: “I am really excited to see the PX shipped from Brunei. We have achieved hand-in-hand across the South China Sea. This How much effort of Hengyi people is behind this! The PX chemical products of the Brunei project provide a practical guarantee for the raw material supply of Hainan Yisheng. We are confident, confident and capable of occupying a favorable position in the new round of market competition. ”

After the first phase of the project is put into operation, chemical products such as paraxylene and benzene will be sold to Hengyi’s domestic downstream enterprises, and products such as gasoline, diesel and kerosene will First, meet the needs of Brunei’s domestic and Southeast Asian markets. With the Brunei project put into operation, Hengyi will be the first in the industry to realize a balanced development model from “crude oil refining to polyester and polyester dual-chain”, strategically achieving coordinated development at home and abroad, and balanced development of upstream and downstream. With domestic refineries basically relying on imported oil, obtaining a secure supply of raw materials means that Hengyi will have greater initiative in midstream and downstream production.

Integrated investment in Hengming Chemical Fiber, Hengyi Group’s domestic investment intensity continues unabated!

In addition to overseas projects, Hengyi Group has also invested heavily domestically.

In July 2018, Hengyi Petrochemical issued an announcement that the M&A fund Hangzhou Xinheng Investment Partnership (Limited Partnership) in which the controlling shareholder Hengyi Group participated as a limited partner ) established the project company Hengming Chemical Fiber. Hengming Chemical Fiber won the relevant assets of Shaoxing Binhai Petrochemical Group Co., Ltd., Zhejiang Fardong Chemical Fiber Group Co., Ltd., and Zhejiang Fardong New Polyester Co., Ltd. through online bidding at a transaction price of 1.619 billion yuan. Industrial and commercial information shows that Hengming Chemical Fiber has recently undergone equity changes, with its registered capital changing from 1.62 billion yuan to 2.12 billion yuan, with Hengyi Group taking a stake.

At the same time, Hengming Chemical Fiber’s business is still expanding. Public information shows that on July 8, Hengming Chemical Fiber’s 1.4 million tons annual functional fiber intelligent production line project started construction in Ma’an Town. According to reports, the Hengming Chemical Fiber intelligent production line project with an annual output of 1.4 million tons of functional fibers has a total investment of 6.05 billion yuan and an area of ​​688.12 acres. After it is put into operation, it is expected to achieve annual sales revenue of 16.8 billion yuan and tax revenue of over 1 billion yuan. “The Hengming Chemical Fiber Intelligent Production Line Construction Project with an annual output of 1.4 million tons of functional fibers is a major strategic project for Hengyi to further strengthen and expand the industry.”

In addition, on July 7 this year, Hengyi Group announced that the company and the Qinzhou Municipal Government signed an investment cooperation agreement for a high-end green chemical industry and chemical fiber integration project in Nanning, Guangxi . The total investment of this integrated project is approximately 45 billion yuan. Once completed, it is expected to achieve an annual output value of approximately 50 billion yuan and a tax revenue of approximately 4.5 billion yuan.

Hengyi Group’s official website states that in recent years, Hengyi Group has integrated downstream chemical fiber production capacity through mergers and acquisitions, and its chemical fiber production capacity will exceed 10 million tons by the end of 2019.

Hengyi’s large-scale expansion has received strong support from the financial market

Hengyi Petrochemical 2018 It was disclosed on August 20, 2018 that Hengyi Petrochemical plans to withdraw the loan from the syndicate jointly led by China Development Bank and China Export-Import Bank for the Brunei project in the near future, with the withdrawal amount not exceeding US$1.75 billion or the equivalent in overseas RMB.

The reporter noted that the above-mentioned syndicate members include China Development Bank, China Export-Import Bank, Bank of China Co., Ltd., Industrial and Commercial Bank of China Co., Ltd., China Merchants Bank Co., Ltd.

The reporter noticed that in May this year, Wang Bing, Vice President of Bank of China (Hong Kong), led a delegation to visit Hengyi Brunei PMB petrochemical project. Chairman of Hengyi Group Qiu Jianlin accompanied the inspection. The two parties also had candid and in-depth exchanges on further deepening bank-enterprise cooperation in the future.

Hengyi Group’s 2019 semi-annual report shows that as of the end of 2018, Hengyi Group had received bank credit of 56.243 billion yuan. At the end of the first half of 2019, Hengyi Group Obtained bank credit of 59.325 billion yuan, and the bank credit line increased by 3.082 billion yuan.

It is estimated that PTA output in 2019 will be around 44.8 million tons! After continuous expansion, what are the benefits of Hengyi Group?

In the first three quarters of 2019, Hengyi Group achieved operating income of 66.933 billion yuan, compared with 708.13 billion yuan in the same period last year.The net profit fell by RMB 2.364 billion, which was also down from RMB 2.640 billion in the same period last year.

In September 2019, Lianhe Credit Rating determined that the long-term credit rating of Hengyi Group was AA+, with a stable rating outlook. The rating report shows that Hengyi Group is in good operating condition, with its profitability gradually improving and its ability to earn cash from operations. Lianhe Credit also noted that the industry’s prosperity fluctuates greatly, the company’s trading business income profit margin is low, the scale of debt is expanding, and Factors such as high capital expenditure pressure for construction projects and weak equity stability have adverse effects on the company’s credit fundamentals.

In terms of listed companies, in the first three quarters of this year, Hengyi Petrochemical achieved operating income of 62.204 billion yuan, a year-on-year decrease of 6.37%, and net profit attributable to the parent company of 2.214 billion yuan, a year-on-year decrease of 6.37%. down 9.28%.

The investor relations activity record sheet disclosed by Hengyi Petrochemical shows that Mao Ying, the financial director of Hengyi Petrochemical, said that the company has achieved a net profit of 2.214 billion yuan attributable to the parent company. Exceeding the full-year profit in 2018, the single-quarter profit achieved the second best performance in history, and increased by 9.7% compared with the company’s second quarter of 2019.

Zheng Xingang, Secretary of the Board of Directors of Hengyi Petrochemical, said that as of the end of September, the company’s PTA production capacity was 13.5 million tons/year and polyester filament production capacity was 5.1 million tons/year. , polyester staple fiber production capacity is 800,000 tons/year, polyester bottle flake production capacity is 1.5 million tons/year, and caprolactam production capacity is 400,000 tons/year.

Zheng Xingang said that from the first three quarters of 2019, the PTA processing price difference has remained high, which has made a significant contribution to the company’s performance. In the fourth quarter, with the commissioning of new PTA equipment, The processing gap has been compressed, but some equipment that has been postponed for maintenance may be scheduled for maintenance one after another, as well as the recovery of downstream demand. It is comprehensively estimated that PTA output in 2019 will be around 44.8 million tons, an increase of 9%.

Hengyi Group stated that the company’s current operating conditions are good, profits continue to improve, and various businesses are advancing steadily. Currently, all debts are repaid on time with principal and interest, and the above-mentioned new borrowings are not expected to have an adverse impact on the company’s operating conditions and debt repayment ability. As the Brunei refining and chemical project comes into operation, its performance release will have a better promotion effect on future performance.

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