Yuxin disclosed its 2022 annual report on the evening of April 9. The company's operating income in 2022 will be 6.263 billion yuan, a year-on-year increase of 95.62%; the net profit attributable to shareholders of listed companies will be 430 million yuan, a year-on-year increase 205.24%; basic earnings per share was 1.9373 yuan.
Overall operating conditions
The global economy is gradually recovering, and crude oil prices are showing a steady upward trend. The prices of MTBE and isooctane products of Yuxin Co., Ltd. will all have a relatively large increase in 2022. In addition, the PBAT project, butanone project, BDO project and the first-phase project of comprehensive utilization of light hydrocarbons are progressing steadily, and the projects will bring further growth to the company's economic benefits after they are put into production.
Specifically, in 2022, Yuxin's isooctane products will achieve operating income of 2.161 billion yuan, a year-on-year increase of 68.48%; the gross profit rate will be 11.16%, a year-on-year increase of 1.13 percentage points. The operating income of methyl tert-butyl ether products was 1.549 billion yuan, a year-on-year increase of 61.12%; the gross profit margin was 28.56%, a year-on-year increase of 10.62 percentage points. Maleic anhydride products achieved a revenue of 1.22 billion yuan, a year-on-year increase of 2512.91%; the gross profit margin was 4.45%, a year-on-year decrease of 29.69 percentage points.
The annual report shows that during the reporting period, the 150,000-ton/year maleic anhydride plant of Yuxin Co., Ltd.’s fundraising project operated smoothly, and a large amount of by-product steam was produced for self-use, which greatly reduced the production cost of the company’s products and effectively improved product competitiveness. Contributed to the improvement of the company's efficiency. At the same time, due to the continued high international oil prices, the company's revenue and profits will increase significantly in 2022.
Yuxin shares said that it will speed up the construction of projects under construction. The construction of the main device of the 60,000-ton/year PBAT project invested and constructed in Huizhou New Material Industrial Park has been completed and has entered the trial production preparation stage; the BDO project is advancing in an orderly manner and has achieved Environmental impact assessment approval documents, energy assessment approval documents and engineering planning permits, striving to meet the conditions for the 120,000 tons/year 1,4-butanediol project to be put into production in 2023; the first phase of the light hydrocarbon comprehensive utilization project has been fully launched, and the project land has been obtained, completed Project filing, project design, approval and construction, and equipment ordering are being carried out in an orderly manner.
In the future, follow-up strategic planning will be made for the project of comprehensive utilization of light hydrocarbons, and we will continue to focus on cutting-edge emerging chemical fields such as new materials and high-end chemicals, and strengthen R&D cooperation with domestic and foreign universities, research institutes and top enterprises. There is an industrial foundation to further extend and expand the industrial chain.
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