On April 25, Oriental Shenghong (000301.SZ) disclosed its 2023 annual report. In 2023, in the face of the complex external environment, Dongfang Shenghong adhered to the general tone of seeking progress while maintaining stability, strengthened management, and achieved safe, stable, long-term, and full-load operation of the plant throughout the year. For the whole year, the company achieved operating income of 140.44 billion billion yuan, an increase of 119.87 over the same period last year; the net profit attributable to shareholders of listed companies was 0.717 billion billion yuan, an increase of 17.35 over the same period last year. In the petrochemical industry business climate is relatively low, revenue and net profit still achieved steady improvement.3.852 billion yuan, to invest in one million tons of acetic acid project
on April 25, Dongfang Shenghong issued an announcement stating that Shenghong Refining and Chemical (Lianyungang) Co., Ltd., a secondary wholly-owned subsidiary of Jiangsu Dongfang Shenghong Co., Ltd., intends to invest in the construction of "1 million tons/year" the project ". The project is expected to have a total investment of 3.852 billion yuan and a construction period of 2 years.
Dongfang Shenghong said that the acetic acid produced by the project can not only provide raw materials for the company's existing vinyl acetate plant and PTA plant, but also create economic benefits. According to the feasibility study report, the project can achieve an average annual sales revenue of 7.52 billion yuan and an average annual profit of 0.464 billion yuan. After the project reaches production, it will have a positive effect on the company's operating results. The construction of the project is in line with the development requirements of the Action Plan for Building a World-Class Petrochemical Industry Base in Xuwei New District and the Development Plan for Jiangsu Coastal Areas (2021-2025). Basic information of the project project Name: shenghong Refining & Chemical (Lianyungang) Co., Ltd. 1 million Tons/Year Acetic Acid Project implementation subject and address: this project is implemented by Shenghong Refining and Chemical (Lianyungang) Co., Ltd. as the main investor. The project is located in the plant area of Shenghong Refining and Chemical Integration Project, with a land area of 60 mu. Project construction content and scale: the first phase of the new PSA unit, supporting compressor system, substation, control room and other public and auxiliary facilities, after completion can achieve hydrogen 300000Nm 3 /h. Phase II new low-temperature methanol washing unit transformation, cryogenic separation unit and acetic acid unit and supporting circulating water station, initial rainwater collection pool, foam station, substation, control room, raw material/product storage tank and other supporting projects, other auxiliary facilities rely on the existing plant. Project investment amount: the total investment of this project is expected to be 3.852 billion yuan. Source of funding: self-financing, bank loans, etc. Project Progress: the project is expected to have a construction period of 2 years and is currently being submitted for approval. Other Notes: this foreign investment does not involve entering new areas. Refining and chemical project capacity fully released, "1 + N" industrial layout continued to deepen
it is reported that 2023 is the first year of the full release of the production capacity of the Shenghong refining and chemical integration project under the banner of Oriental Shenghong. As the core raw material supply platform, Shenghong Refining and Chemical Integration Project will be fully put into operation at the end of 2022. After the load climbing in the first quarter of 2023, Shenghong Refining and Chemical Co., Ltd. will basically operate at full capacity throughout the year. Based on this, Shenghong Refining and Chemical Co., Ltd. will successfully achieve a revenue of nearly 100 billion yuan in 2023. It is understood that as one of the core projects of Dongfang Shenghong, the project is fully put into operation not only with outstanding economic benefits, but also with more significant industrial coordination benefits. At present, the company has officially opened up the crude oil refining and high-end chemical industry chain, realized the "oil head and tail", greatly reduced the yield of gasoline and diesel, increased the output of chemical products, effectively increased the domestic supply rate of high value-added and scarce chemical products such as olefins and aromatics, and provided strong support for the scientific and technological research of new energy and new materials. For example, PETG (polyethylene terephthalate -1,4-cyclohexanedimethanol ester) is a new high-end polyester material in the fields of special containers and high-end film materials. The market demand for PETG is huge, but the high technical barriers make its production technology mastered by foreign companies for a long time, and its dependence on foreign countries exceeds 80%. Relying on independent intellectual property rights, Dongfang Shenghong has built an annual production capacity of 130000 tons of PETG. The main raw materials PTA (terephthalic acid), EG (ethylene glycol), etc. are from the upstream unit of Shenghong Refining. In addition, the company's new production capacity of 260000 tons/year acrylonitrile, 90000 tons/year MMA, 100000 tons/year EC/DMC, 300000 tons/year vinyl acetate, 400000 tons/year phenol and a series of downstream chemical products will also be put into production in 2023, which will further enrich the company's downstream high value-added fine chemical product matrix. Source: China Petroleum and Chemical Industry, Financial Sector, Network, Chemical Fiber State
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