Economic Work Conference Highlights

Recently, the Yantai Huangbohai New Area held an economic work conference to review the achievements of 2024 and set tasks for 2025. Among the prominent companies discussed was Wanhua Chemical, Shandong's top publicly traded firm. Chairman Liao Zengtai made his second consecutive appearance at the podium, announcing that Wanhua Chemical successfully broke through the 200 billion CNY revenue mark in 2024, marking a significant milestone since surpassing 100 billion CNY in 2021.

Impressive Revenue Growth

Wanhua Chemical's report indicated that revenue for the first three quarters of 2024 reached 147.6 billion CNY. This suggests that the fourth quarter revenue exceeded 52.3 billion CNY. In 2021, Wanhua Chemical initially crossed the 100 billion CNY threshold, and since then, its performance has steadily increased, with an estimated year-on-year growth of over 14% for 2024.

Quarterly Performance Breakdown

In detail, Wanhua Chemical's revenue and net profit for 2024 are as follows:

• Q1: Revenue of 46.16 billion CNY, net profit of 4.16 billion CNY.
• Q2: Revenue of 50.91 billion CNY, net profit of 4.02 billion CNY.
• Q3: Revenue of 50.54 billion CNY, net profit of 2.92 billion CNY.
• For Q4, net profit is expected to fall between 3.5 billion to 4.5 billion CNY.

Overall, it is projected that Wanhua Chemical's net profit for the entire 2024 will surpass 14 billion CNY, potentially reaching around 15 billion CNY.

Diverse Business Operations

As a global leader in chemical new materials, Wanhua Chemical operates across five major industrial clusters: polyurethane, petrochemicals, fine chemicals, emerging materials, and future industries. The company has established ten production bases and factories across locations such as Yantai, Penglai, Ningbo, Sichuan, Fujian, Zhuhai, Ningxia, and even internationally in Hungary and Czech Republic.

Promising Future Developments

Looking ahead to 2025, Wanhua Chemical is set to launch four major production units. On December 4, 2024, during the third-quarter earnings conference, Li Limin, Vice President and CFO, revealed that the Penglai Phase II 400,000-ton POE project is expected to commence operations by the end of 2025. Additionally, high-end α-olefins (1-octene and 1-hexene) projects will also be launched. An ethane feedstock diversification project with an annual output of 1 million tons of ethylene is undergoing technical renovations, with completion expected by the end of 2025. The second phase, producing 1.2 million tons of ethylene, will begin operations in the first quarter of 2025. With these new installations, Wanhua Chemical is poised to reach new performance peaks.