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Insight | Time:Feb 1 2018 3:36PM
Polyester industry enjoys good profits
 
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According to the Q3 report of polyester enterprises listed in the A share market, polyester industry operated well on the whole. Among the eleven listed companies, except Xiake Color Spinning, all enjoyed diverged profits.

   No. Company Revenue(yuan) Revenue Y-O-Y growth rate(%) Net profit(yuan) Net profit Y-O-Y growth rate(%) Gross profit margin(%)
1 Rongsheng Petrochemical 52.363 bil 66.72 1.555bil 26.59 5.92
2 Hengyi Petrochemical 47.090 bil 112.74 1.351bil 168.7 3.83
3 Tongkun Group 23.304 bil 31.63 1.147bil 104.98 9.75
4 Xinfengming 16.865 bil 37.71 0.932bil 179.11 10.99
5 Hengli Group 16.300 bil 18.22 1.102bil 65.24 14.81
6 Unifull 3.714 bil 127.68 0.215bil 86.46 23.88
7 Zhejiang Hailide New Material Co., Ltd 2.332 bil 24.07 0.257bil 10.71 22.73
8 Huaxi Holding 2.211 bil 47.56 0.130bil -75.79 9.83
9 Jiangsu Jiangnan High Polymer Fiber Co. Ltd 0.996 bil 26.29 34.67mil 206.18 10.42
10 CHTC Helon Co.,Ltd 0.412 bil 13.27 3.42mil 181.89 13.19
11 Jiangsu Xiake Color Spinning Co., Ltd. 0.258 bil -17.51 -3.53 mil 87.45 7.54

Top five among the eleven companies, namely Rongsheng Petrochemical, Hengyi Petrochemical, Tongkun Group, Xinfengming and Hengli Group, captures 94.02% of the total revenue, which reaches 165.845billion yuan. Of the total net profits of all these enterprise attributed to the shareholders of the parent companies, which reaches 6.724billion yuan, the top five, namely Rongsheng Petrochemical, Hengyi Petrochemical, Tongkun Group, Hengli Group and Xinfengming, share 90.53%.

Profits of various polyester products in 2017 show obviously higher than in 2016 and are also the top in recent five years. On annual basis, the cash flow of POY150/48, FDY150/96, PSF and polyester industrial yarn are respectively 303yuan/m, 108yuan/mt, 365yuan/mt, and 2,044yuan/mt higher in 2017.



Among the top five companies in terms of revenue and net profit, only Xinfengming has not equipped with PTA units, yet it is exactly the same company that registers the highest year-on-year growth of net profit. This may because, compared with the annual increase of 185yuan/mt or 41% of PTA-PX spread, the increase of POY is far higher, a major product produced by Xinfengming.

Cash flow(yuan/mt) 2016 2017 Increase Increase rate
POY150/48 117 420 303 260%
FDY150/96 319 427 108 34%
PSF 116 481 365 313%
Polyester industrial yarn 1028 3072 2044 199%
PTA-PX spread 451 636 185 41%

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