Sanwei Shares: Net profit in the first half of the year is approximately 116 million yuan new PBAT equipment is about to be produced

On August 31, Sanwei Shares released a semi-annual performance report stating that operating income in the first half of 2023 was 1.844 billion yuan, a decrease of 2.81% from the same period last year; net profit attributable to shareholders of listed companies was 116 million yuan Yuan, a year-on-year increase of 21.8%; basic earnings per share was 0.15 yuan, a year-on-year increase of 25%.

Sanwei Co., Ltd. belongs to the rubber products industry, and its main business activities are the manufacturing and sales of rubber products, concrete sleepers, polyester fiber and other products.

Sanwei Shares stated that during the reporting period,
The basic construction of the company’s BDO integrated project has been completed, production conditions have been met, and relevant personnel have been recruited. Equipment debugging and personnel training are currently being promoted to prepare for subsequent production. The company’s sales channels have been basically established, and the sales team has reached preliminary cooperation intentions with a number of downstream customers to ensure “sales upon launch”.

The above-mentioned project refers to the first phase construction content of Inner Mongolia Sanwei New Materials Co., Ltd. including 300,000 tons/year 1,4 butanediol (BDO), 10
10,000 tons/year degradable plastic PBAT, 60,000 tons/year high-end polyether material PTMEG, supporting construction of 360,000 tons/year acetylene raw material combined device (carbide) and 720,000 tons/year formaldehyde plant.

The semi-annual report shows that Inner Mongolia Sanwei New Materials Co., Ltd. was established in June 2021 with a registered capital of 1.766 million yuan.
The registered address is Low Carbon Industrial Park, Hainan District, Wuhai City, Inner Mongolia Autonomous Region. At the end of this reporting period, the company’s total assets were 3,840,882,177.17 yuan, net assets were 1,595,303,836.39 yuan, and operating income was 235,165.03 yuan.
Operating profit was -724,771.86 yuan, and net profit was -719,595.87 yuan.