PTA Moderated Supply And Demand To Improve Profitability

Since 2016, polyester polyester industry is still facing some pressure and challenges.

In the face of increasingly severe market competition, polyester enterprises should speed up technology.

We should strengthen the R & D and other means to solve the cost pressure, take the development vision in the long term, put the functionality of the product into practice, and enhance the competitiveness of enterprises with strength and efforts.

Although the decline of polyester polyester product prices has lowered the profitability of listed companies, the market for raw materials for polyester upstream PTA has changed in 2015, and has improved the profitability of enterprises.

A total of 5 polyester polyester filament companies listed in 2015 annual report, only hengyifu Petrochemical revenue growth, Rongsheng petrochemical, Tong Kun group, Huaxi shares and Chunhui 4 companies have a certain decline in revenue, but the 5 companies have increased net profit.

In 2015, the net profit attributable to shareholders of Listed Companies in Hengyi petrochemical company was about 197 million yuan, an increase of 155.79% over the same period last year. The net profit of Rongsheng Petrochemical belonging to shareholders of listed companies was about 369 million yuan, an increase of 206.28% over the same period last year. The net profit of Tong Kun group belonging to shareholders of listed companies was about 115 million yuan, an increase of 3% over the same period last year. The net profit of Huaxi shares belonging to shareholders of listed companies is about 84 million 373 thousand and 200 yuan, up 55.13% over the same period last year. Chunhui shares belong to shareholders of listed companies.

About 15 million 533 thousand and 700 yuan, an increase of 107.34% over the same period last year.

Most of these enterprises say that the main reason for the profits of enterprises is that they are affected.

The relationship between supply and demand is improving and downstream demand is getting warmer, as well as the increase in gross profit margin of PTA products.

For example, in 2015, only PTA's revenue increased in the polyester products of Tong Kun, and its PTA revenue reached 73 million 864 thousand and 200 yuan, an increase of 135.75% over the same period last year.

This is related to PTA's unique market in 2015.

At the beginning of 2015, the price of PTA continued to descend under the influence of continuous low international crude oil prices.

However, with the production and liquidation of the 3 million 300 thousand ton / year capacity of the Far East Petrochemical Company in March 2015 and the explosion of Gure aromatics plant during the Qingming Festival, the situation of serious oversupply of PTA products was alleviated to a certain extent, and the pattern of PTA market after April 2015 was completely changed.

According to statistics, in 2015, domestic PTA production capacity was 7 million 80 thousand tons.

Yisheng, the largest PTA producer in China, has also stopped Ningbo's 600 thousand tons / year installation.

In 2015, the PTA plant operating rate was about 75%, and sales increased by 6% over the same period last year.

Although the price of PTA has not been significantly improved by cost, the profitability of the PTA industry has improved significantly in the four quarter, and has also made it profitable for enterprises to achieve profitability.