Qicheng Chemical Company Losses Pre-decrease in the First Quarter

Zhongtai Chemical announced on April 16 that its first quarter 2009 performance is expected to fall by 85-95%. Judging from the disclosed results, the performance of listed companies in the chemical industry in the first quarter of 2009 was not optimistic. Under the influence of the financial crisis, more than 70% of the companies were pre-reduced or reduced.

22 companies reduced and pre-loss

As of April 15, 182 listed companies released their first quarter 2009 results. Among them, there are 30 chemical industries, 17 companies are expected to lose money, 5 companies are expected to decline in performance, 2 companies are expected to turn losses, and another 6 companies are expected to increase. From the overall situation, there are 22 pre-reduction and pre-loss companies, which account for 73% of the total number of companies expected to be released.

In these pre-reduction and pre-loss announcements, many companies attributed the cause to the impact of the financial crisis. Yunwei Co., Ltd. expects its first-quarter results to suffer a loss. The main reason is that due to the international financial crisis and its severe impact on the real economy, the market demand for coal chemical industry products continued to be sluggish in 2009, and the price fluctuates in a narrow range at a low level, leading to the company's main products such as coke. The operating rate is insufficient. Yuntianhua said that due to the financial crisis, the company's market demand for glass fiber, organic chemicals, and electronic cloth products continued to slump, product prices continued to decline, and losses would occur in the first quarter.

Blue Star Chemicals and Jinhua Chlor-Alkali are the two companies with a relatively high loss amount in the first quarter, which are about 120 million yuan and 115 million yuan respectively. In the first quarter of 2008, the net profits of the two companies were 53.82 million yuan and 121.686 million respectively. yuan.

However, since 2009, the state has implemented a refined product oil price formation mechanism and improved the profitability of the refining segment. Sinopec Corp. expects its first-quarter results to increase by more than 50%. S Shangpei and S-information will also turn losses into losses.

10 company performance improved

Since the fourth quarter of 2008, the government has launched a series of policies to stimulate domestic demand and stimulate consumption. With the increase in total loans this year, the economy has shown signs of recovery. Although statistics from the expected situation, the chemical industry in the first quarter results are still not ideal, but with the fourth quarter of 2008, many companies have seen growth or reduce losses.

For rigorous comparison, we only counted the first quarter results with a forecast of a clear net profit forecast, and disclosed 17 companies for the 2008 annual report. Among the 10 companies, the quarterly net profit of the first quarter of 2009 and the fourth quarter of 2008 increased or decreased, and the losses of the seven companies increased.

In addition to oil refining companies, Hongbaoli is expected to increase by 60-90% in the first quarter. Although affected by the financial crisis, the company has increased its international and domestic market expansion efforts and adopted a proactive and flexible sales policy, which has led to an increase in performance. . In addition, Infineon’s net profit for the first quarter was approximately 6.9 million yuan, although it was 50-100% year-on-year, but compared with the loss of 58.96 million yuan in the fourth quarter of 2008, the company’s business has improved significantly.

The difficulties faced by the other seven companies are even more severe. Juhua’s loss in the fourth quarter of 2008 was 95.730 million yuan, while the first quarter’s expected loss was 66 million yuan. Changjiu Biochemical’s fourth quarter profit in 2008 was 5.47 million yuan, while the first quarter’s loss was expected to be 13 million yuan.

08 performance drop by 58%

As of April 15, 112 companies in the chemical industry disclosed the 2008 annual report, with total operating income of 1,766.1 billion yuan, up 19.17% year-on-year; net profit totaled 32.2 billion yuan, down 57.74% year-on-year; gross margin was 10.37%. The year-on-year decrease was 46.32%.

Of the 112 companies, there were 38 year-on-year increases in net profit in 2008, and listed companies in the chemical sub-sectors such as chemical fertilizers, pesticides, and civil explosions occupied many of them.

Due to the financial crisis, the prices of chemical products fell sharply in 2008, which was the main reason for the decline in the overall performance of the chemical industry. In 2009, under the promotion of policies, the chemical industry's operating conditions have improved, but the prices of chemical products have remained at a low level during the fourth quarter of 2008, and the market demand cannot be restored in a short period of time. Foreign trade accounts for the proportion of operating revenue. Larger companies are more affected by the international economy.