Wanhua Chemical Made A Net Profit of 5.3 Billion in The First Quarter of 2022!

On the evening of April 25, Wanhua Chemical successively released the first quarter report and operating data of 2022. During the reporting period, the company achieved operating income of 41.784 billion yuan, a year-on-year increase of 33.44%; net profit of 5.374 billion yuan, a year-on-year decrease of 18.84%; basic earnings per share of 1.71 yuan.

During the reporting period, despite the impact of many unfavorable factors such as the new crown epidemic and the sudden change of the international situation, the sales volume and price of the company's main business segments maintained a year-on-year growth trend. The operating income in the first quarter was 41.784 billion yuan, a year-on-year increase of 33.44%. However, affected by the sharp rise in global crude oil, natural gas and other basic energy prices, the company's main chemical raw materials and energy costs of European companies rose sharply year-on-year. In the first quarter, the operating cost was 33.197 billion yuan, an increase of 51.30% year-on-year, and the net profit attributable to shareholders of the listed company was 5.374 billion yuan. Yuan, a year-on-year decrease of 18.84%.

In addition, from the perspective of the company's main product output, sales and revenue, Wanhua Chemical's petrochemical segment performed well. In the first quarter of 2022, the production and sales of petrochemical series were 1.18 million tons and 3 million tons respectively. 18.8 billion.

The price fluctuations of the company's main products are as follows:

(1) MDI products
The listed prices of the company's MDI products in the domestic market in the first quarter are as follows. It can be seen that the listed prices of pure MDI are lower than the same period last year; while the listed price of aggregated MDI in March is significantly lower than the same period last year.

(2) Petrochemical products
The main trend of petrochemical product prices in the first quarter of 2022: Shandong propylene price was 8,168 CNY/ton, up 6.07% year-on-year; Shandong PO price was 11,355 CNY/ton, down 37.81% year-on-year; Shandong n-butanol price was 10,121 CNY/ton, down 8.98% year-on-year %; Shandong acrylic acid price was 13,919 CNY/ton, up 54.01% year-on-year; Shandong butyl acrylate price was 15,032 CNY/ton, up 4.01% year-on-year; NPG East China hydrogenation price was 17,393 CNY/ton, up 30.3% year-on-year; Shandong MTBE price was 7,058 CNY/ton, up 39.54% year-on-year; PP wire drawing price in East China was 8,604 CNY/ton, down 1.38% year-on-year; East China LLDPE film grade price was 8,955 CNY/ton, up 7.42% year-on-year; East China ethylene-based PVC price was 9,208 CNY/ton, up 8.19% year-on-year %.

Price fluctuations of main raw materials: pure benzene – in the first quarter of 2022, the average price of pure benzene was 7,947 CNY/ton, up 42.83% year-on-year; coal – in the first quarter of 2022, the average price of 5,000 kcal coal was 1,104 CNY/ton, up year-on-year About 70%; propane and butane - in the first quarter of 2022, the average price of propane CP was US$803/ton, a year-on-year increase of 35%; the average price of butane CP was US$802/ton, a year-on-year increase of 41%.