Hebang's 2022 net profit increased by more than 26%

Hebang the annual report, the company in 2022 to achieve a revenue of 13.039 billion yuan, a year-on-year growth of 30.55%; Net profit of 3.807 billion yuan, up 26.12% year on year; Non-net profit was 3.751 billion yuan, up 24.65% year on year.

The company's operating income and net profit for the current period increased significantly compared with the same period of last year, mainly because the company's main products, PMIDA, Glyphosate and Ammonium chloride, benefited from the increased demand for downstream agricultural applications;, Soda ash benefited from the increased demand for photovoltaic glass and lithium carbonate applications in the downstream new energy industry, and the sales price of products increased during the same period, and the company added photovoltaic glass, silicon wafers and other products in the current period.

By the end of 2022, Hebang has completed the basic layout in the three fields of chemical industry, agriculture and photovoltaic, and has the production capacity of 1.1 million t/a of soda ash and 1.1 million t/a of Ammonium chloride, making it the largest supplier of soda ash and Ammonium chloride in Southwest China. The production capacity of Glyphosate has reached 200,000 t/a and that of Glyphosate has reached 50,000 t/a, making it the world's largest supplier of Glyphosate. The company also has the production capacity of 465,000 t/a special glass sheet and 8.3 million m2/ year Low-E coated glass, The methionine production line has been put into production, with an annual production capacity of 70,000 tons of liquid methionine, becoming the second enterprise in China to achieve mass production of liquid methionine. In addition, the company is investing in the construction of photovoltaic materials and products production projects.

Hebang also disclosed that it plans to spin off its subsidiary Sichuan Wujun Solar Energy to list on the main board of the Shanghai Stock Exchange. Through the spin-off, the company will further realize business focus, highlight the main business, focus on the development of traditional chemical industry and agriculture, to achieve excellence and strength; At the same time, it is conducive to Wujun Light Energy to focus on the business development of green energy field. After the completion of the spin-off, the company's ownership structure will not change, will still have a controlling stake in Wujun light Energy.