On the evening of February 17, Binhua Co., Ltd. released its 2022 annual performance report. Affected by the cyclical fluctuations in the chemical industry, the company will achieve an operating income of 8.89 billion yuan in 2022, a year-on-year decrease of about 4%; The profit was 1.17 billion yuan, a year-on-year decrease of about 28%.
Binhua Co., Ltd. is a leader in the chlor-alkali industry. The company’s current annual production capacity of propylene oxide is 280,000 tons, and its commodity volume ranks among the top in the country. The company’s caustic soda production capacity is 610,000 tons, ranking among the top in Shandong Province. The company stated that during the reporting period, it actively responded to market changes and rationally arranged production and operation. The main production equipment maintained stable operation, and the production and sales volume of major products did not fluctuate much compared with the same period last year. The main reason for the decline in the company’s performance is that the price of the leading product, propylene oxide, has fallen sharply compared with the previous year, resulting in a decrease in gross profit. Among other products, the prices of trichloroethylene, tetrachloroethylene, chloropropene, and epichlorohydrin fluctuated slightly compared with the same period last year, and the price of caustic soda increased significantly compared with the same period of last year, but the prices of raw salt and raw coal, the main raw materials, also rose.
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