Luxi Chemical Co. 's third-quarter profit falls as bisphenol A project begins production

Recently, Luxi Chemical disclosed the third quarter of 2022, and also announced the first phase of the bisphenol A project production announcement.

In the first three quarters of this year, Luxi Chemical achieved revenue of 23.518 billion yuan, up 0.2% year on year; Net profit attributable to its parent was 3.116 billion yuan, down 13.58% year on year. In the third quarter, revenue reached 6.875 billion yuan and net profit attributable to its parent reached 380 million yuan.

Since the second half of this year, the whole chemical industry is affected by the upstream raw material price rise and downstream demand decline and other factors, generally not very prosperous.

On the same day, Luxi Chemical also announced that the first phase of the annual output of 1.2 million tons of bisphenol A project was put into operation. In November 2021, the company announced the investment and construction of the project: Park product structure and market development trend, the company intends to invest in the construction of 200000 tons of bisphenol A project and supporting utilities and other auxiliary facilities, giving full play to the advantages of integration, intensification, park, active layout polycarbonate products of raw materials, to further consolidate optimized zone of the industrial structure, enhance the market competitiveness and comprehensive strength of our company.

The company said that after intensive project construction in the early stage, the production process of bisphenol A project has been fully opened, and it has been safely and smoothly put into production recently. Qualified products are produced and directly transported to the downstream polycarbonate unit for use, which is conducive to improving the quality of polycarbonate products and reducing production costs. At present, we are optimizing production and striving for a breakthrough in output and quality.