Shen Wan Chemicals divides the chemical industry into six major sub-sectors: petrochemicals, chemical raw materials, chemicals, chemical fiber, plastics and rubber. There are 15 listed companies in petrochemical industry, 23 listed companies in chemical materials, 138 listed companies in chemical products, 27 listed companies in chemical fiber, 22 listed companies in plastics, and 14 listed companies in rubber. PetroChina belongs to the extractive industry in the Shenwan Industrial Classification and is therefore not counted in the chemical industry statistics. Sinopec’s net profit exceeded 32,694 million yuan.
Sinopec’s exclusive industry-wide net profit exceeded 70%, and the economics of the chemical fiber industry declined significantly. Shenwan Chemical Industry's total industry net profit was approximately RMB 45.28 billion, and Sinopec’s exclusive net profit was RMB 32.694 billion, accounting for 72% of the industry’s total net profit. In addition, the chemical fiber industry was dragged down by the downturn in the downstream textile industry. The growth rate of the industry's net profit fell by 317%. The industry as a whole was in a loss state, with a loss of 2.255 billion yuan. The chemical raw material industry was booming. The entire industry realized a net profit of 537.5 million yuan, and due to a loss of 3.254 in mid-2013, the growth rate was significant. The growth rate of the plastics industry was over 20%, and the net profit was 1.176 billion yuan, which was mainly due to the contribution of the plastics companies that benefited from the lower raw material prices and the high degree of prosperity. Due to the downturn in the downstream economy, the rubber industry experienced a year-on-year growth rate, with a growth rate of only 13.4%, and a net profit of 966 million yuan. The cost of the main benefit from raw material price decreases. Chemicals grew by about 10%, but net profit after deductions fell by 1% year-on-year.
Shenwan Petrochemical Industry has two sub-sub-sectors: petroleum processing and oil trading. Both industries have experienced slight growth. Throughout the Shenwan petrochemical industry, the net profit growth of Sinopec Corp. and Guanghui Co., Ltd. was significant. Among them, Sinopec’s net profit increased by 1.19 billion yuan, and Guanghui Energy’s net profit increased by 690 million yuan (the company’s net profit after deduction was only 435 million yuan. ). Among them, Shanghai Petrochemical and Huajin have significant declines, with net profits falling by 604 million yuan and 432 million yuan respectively. From the analysis, the overall recovery of the entire petrochemical industry is weak, relying mainly on the incremental profits of Sinopec, and the growth of Sinopec's performance has greatly benefited from the new price adjustment mechanism for refined oil products, which has significantly increased the refinery's refined oil profits. Other petrochemical companies have been dragged down by the low price of downstream chemical products. The non-recurring income of Guanghui Energy accounts for 70% of the total net profit. From this, we judge that before the completion of the domestic economic restructuring, the petrochemical industry is unlikely to have significant value investment opportunities, and it is more from the opportunities for industrial restructuring brought about by the reform of state-owned enterprises.
Shen Wan Chemical raw materials industry sub-soda, chlor-alkali, inorganic salts and other chemical raw materials in four secondary sub-sectors, the industry's soda ash and chlor-alkali performance year-on-year growth. In the four soda ash industry listed companies, net profit after deductions increased by RMB 213 million, which was mainly due to the significant industry loss in the same period of 2013, and the overall recovery of the industry was not significant. A total of 12 listed companies in the chlor-alkali industry reported a net increase of RMB 154 million in net profit after deductions. Among them, the significant growth in the performance of Inner Mongolia Junzheng and Zhongtai Chemicals was mainly due to the reduction in costs brought about by the decline in the price of raw coal to benefit the production of raw materials. Weary. The four listed companies in the inorganic salt industry recorded a net loss of 13.95 million yuan after deductions, which was a small loss year-on-year. The other chemical raw material industry realized non-net profit of 184 million yuan, a slight decrease from the same period last year.
Shenwan chemical products industry sub-sectors nitrogen fertilizer, phosphate fertilizer, potash and other 14 sub-sectors, the industry as a whole declined in economic prosperity, other chemical products and textile chemicals and pesticides grow significantly, the fertilizer industry declined significantly. The chemical industry is the largest secondary sub-sector in the integration of SW Chemicals, with a total of 138 listed companies. In 2014, the other non-profits in the chemical products industry increased by more than 2.8 times, which was mainly due to the significant reduction in losses in the industry and a lower base in 2013. Among them, the performance of Sanhe Environmental Protection, Dinglong, and Aoke increased significantly. Another Danhua Technology significantly reduced losses. The non-net profit of textile chemical products industry increased by nearly 1.65 times, which was mainly due to the substantial increase in the product price increase caused by the tightening of environmental protection law enforcement in Zhejiang Longsheng and Lantuo's products in the textile dye industry. In addition, the depreciated net profit of the pesticide industry also increased by 25.6%, mainly due to the increase in performance from the price increase of the glyphosate industry. The significant growth was achieved by Sanonda, Red Sun, Winbond, and Sinochem International. We feel that the textile chemicals industry and the pesticide industry are difficult to sustain, and they only have the pulse market for the period. In 2014, the industry's economy will decline. The fertilizer industry is expected to bottom out in 2014. In particular, potash fertilizer and phosphate fertilizer are expected to bottom out and gradually rebound.
Shenwan chemical fiber industry divided polyester, vinylon, viscose, spandex and other fibers in five secondary sub-sectors, the industry's economy declined significantly, only the spandex industry rebounded significantly. For the 12 listed companies in the polyester industry, the 2014 interim report achieved a non-net profit loss of 2 billion yuan, a decrease of 368% year-on-year. In the Vinylon industry, two listed companies, the 2014 interim report achieved non-net profit reduction of 101 million yuan. In 2014, seven listed companies in the viscose industry suffered an increase of RMB 74 million.
For the three listed companies in the spandex industry, the net profit for the 2014 interim report was 434 million yuan, a year-on-year increase of more than 15.7%. In other fiber industry, three listed companies achieved a net profit loss of 15.83 million yuan in 2014, but the non-net profit of Shenma stock deductions turned a year-on-year loss.
Shenwan Chemical Plastics Co., Ltd. divided sub-sectors of synthetic leather, modified plastics, and other plastics into three sub-sub-sectors. The only other industries in the industry have a good boom, which is mainly contributed by the new performance of Kangde. The synthetic leather industry has five listed companies. In 2013, it achieved a non-net profit of RMB 131 million, an increase of approximately 4.4% year-on-year. The modified plastics industry has three listed companies. In 2013, it achieved a non-net profit of 341 million yuan, a year-on-year decline of 20.2%. Other listed companies in the plastics industry achieved non-net profit of RMB 703 million in 2013, a year-on-year increase of more than 134%, mainly due to the significant contributions made by Kangdexin and Zhongda.
Shenwan Chemical Rubber Co., Ltd. divided its sub-industries of tires, carbon black and other rubber products into three sub-sub-sectors. The whole industry is still in a good condition, mainly due to the cost reduction caused by the price drop of natural rubber.
The tire industry has 7 listed companies. In 2014, the mid-year report achieved a non-net profit of 690 million yuan, a year-on-year increase of approximately 7.8%, which was mainly due to the decrease in the cost of the lower natural rubber raw materials. There are 5 listed companies in other rubber industries. In mid-2014, the non-net profit was 238 million yuan, up 16% year-on-year, mainly because Sanlux benefited from the increase in raw material costs. Three listed companies in the carbon black industry achieved non-net profit of RMB 38 million in 2013, a year-on-year increase of more than 130%, mainly due to the significant growth of Black Cat's shares as an industry leader.
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