On August 7, Hunan Yuxin Energy Technology Co., Ltd. (hereinafter referred to as “Yuxin”) released the 2023 semi-annual report. The content of the report shows that Yuxin’s revenue in the first half of the year was 2.956 billion yuan, a year-on-year decrease of 0.52%, and its net profit was 217 million yuan, a year-on-year increase of 3.54%.
According to public information, Yuxin Co., Ltd. is mainly engaged in the process research and development, production and sales of deep-processed organic chemical products using liquefied petroleum gas (LPG) as raw material. The main products include isooctane, MTBE, sec-butyl acetate and maleic anhydride produced from carbon four (C4) components in LPG, and isopropanol produced from acetone, and sell LPG processing residues and pentane Blowing agent and other by-products.
In the report, Yuxin Co., Ltd. stated that in the first half of 2023, the national economy will rebound and the demand for travel will increase significantly. The demand for oil products will be strong, and the prices of MTBE and isooctane products will remain high overall. Weak, the demand for maleic anhydride, isopropanol and other chemical products is average; due to various factors, the application market of degradable materials at home and abroad has not yet been fully opened, but considering the long-term trend of global environmental protection and ecological development, low cost, high High-quality degradable materials still have good development prospects.
While maintaining the steady growth of domestic market revenue, Yuxin shares said that the proportion of foreign market revenue also increased in the first half of the year.
According to the data, Yuxin Co., Ltd. achieved operating income of 2.318 billion yuan in the domestic market, accounting for 78.42% of the total revenue; foreign markets realized operating income of 638 million yuan, accounting for 21.58% of the total revenue. Compared with the same period last year, the proportion of foreign market revenue in total revenue increased by 6.58 percentage points.
Yuxin shares are also actively developing new products. Yuxin Co., Ltd. said that the PBAT project with an annual output of 60,000 tons of fully biodegradable plastics will produce qualified products in May 2023. The smooth commissioning of the project is the first step for Yuxin Co., Ltd. to enter the field of degradable plastics. The field has laid a good foundation.
In addition, during the reporting period, the sec-butyl acetate plant of Yuxin Co., Ltd. resumed production smoothly. The project with an annual output of 100,000 tons of methyl ethyl ketone and co-production of 130,000 tons of ethyl acetate entered the trial production and commissioning stage. The catalyst project and annual output of 120,000 tons1, The 4-butanediol project was under construction in an all-round way, and the first phase of the comprehensive utilization of light hydrocarbons was advanced in an orderly manner. With the gradual completion and commissioning of the project, the product structure will be further enriched, bringing new profit growth points to the company.
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