Wanhua Chemical disclosed a number of projects new progress

On November 14, Wanhua Chemical held a performance presentation to explain the performance of the first three quarters and disclosed the new progress of a number of projects.

According to reports, Wanhua Chemical has become a leading enterprise in the polyether industry through years of continuous technological innovation, as well as a complete upstream and downstream industry chain of LPG -- propylene/ethylene -- propylene oxide/ethylene oxide -- polyether. In the future, it will further expand and strengthen the polyether industry by expanding the global channel collaboration of diphenyl methane diisocyanate (MDI), toluene diisocyanate and polyether business.

Wanhua Fujian 400,000 tons/year MDI plant is scheduled to be put into production by the end of the fourth quarter of this year, when the company will have four MDI production bases in Yantai, Ningbo, Fujian and Hungary. In addition, the MDI separation unit under construction in Ningxia is expected to start production by the end of next year.

In terms of new materials, Wanhua Chemical has completed the pilot test of polyolefin elastomers, opened up the technological process, and produced qualified products. At the present stage, Wanhua Chemical is accelerating the industrialization project, with a planned production capacity of 200,000 tons/year in the first phase. The 50,000-ton/year lithium iron phosphate project under construction is expected to be completed and put into operation in the first half of next year. In addition, Wanhua Chemical recently set up the battery Materials Division, focusing on the long-term strategic development of the new energy industry.

Wanhua Chemical said that in recent years, the wood-based panel industry has witnessed rapid growth, and the MDI aldehyde-free wood-based panel industry has maintained an annual growth rate of 40%~50% in the past three years. In the future, with the consumption upgrade, people pay more and more attention to health and environmental protection, Wanhua Chemical's MDI business in the aldehyde-free wood-based panel industry still has a large room for growth.

Recently, Wanhua Chemical has made a series of progress in its key projects. On September 30, Yantai Municipal Bureau of Ecological Environment approved the 1.2 million tons/year ethylene and downstream high-end polyolefin project of Wanhua Chemical Group Co., LTD., with a total investment of 17.6 billion yuan. On October 8, Ningbo Municipal Bureau of Ecological Environment made an approval decision for Wanhua (Ningbo) 1.8 million tons/year MDI technical transformation project and 180,000 tons/year hexylene diamine project, which planned to invest 941 million yuan. In addition, Wanhua Chemical Co., Ltd. has also made progress in environmental assessment in many projects, such as 0.42 million tons/year perfume enhancer, polycarbonate capacity expansion 140,000 tons/year, 6,000 tons/year polycarbonate diol, ethylene polyvinyl chloride, 50,000 tons/year water-based resin, 360,000 tons/year propylene oxide and ethylene oxide derivatives.

According to the latest research report released by Sealand Securities, according to incomplete statistics, calculated according to the average price in 2022, if all the existing planned projects of Wanhua Chemical are put into operation as scheduled, it is expected to increase the revenue of 20.8 billion yuan in 2022, and the accumulated annual revenue of 54.2 billion yuan for the projects put into operation from 2022 to 2023, and the revenue of 180.8 billion yuan after all the projects are put into operation.