Chinese Chemical Industry Half-Year Earnings Forecast Summary

Here is a summary of the earnings forecasts for 20 Chinese chemical companies:

Most companies are forecasting a decline in net profit:

- 20 out of 21 companies forecast a year-on-year decrease in net profit for the first half of 2023.

- 6 companies are expected to remain loss-making, while only 1 company is expected to turn losses into profits.

Some key highlights:

- Henglide Chemical: Net profit of RMB 3.05 billion, down 62% year-on-year.

- Weishite Chemical: Net profit of RMB 1.843 billion, down 34.13% year-on-year.

- Huoruihengqi: Net profit of RMB 1.65-1.75 billion, down 61.2%-63.41% year-on-year.

- Huafeng Chemical: Net profit of RMB 1.25-1.38 billion, down 42.37%-47.8% year-on-year.

- Dufluo: Net profit of RMB 250-280 million, down 80.04%-82.18% year-on-year.

- Shanghai Petrochemical: Net loss of RMB 1-1.1 billion, compared to a net loss of RMB 436 million in the same period last year.

- Rongsheng Chemical: Net loss of RMB 1.1-1.2 billion, down 120.50%-122.36% year-on-year.

Most companies are seeing significant earnings declines due to higher costs, weaker demand and macro headwinds. Only a few expect improvements in the second quarter.

Overall, it's a difficult operating environment for Chinese chemical companies, with the majority seeing profit declines and some remaining loss-making for the first half of 2023.