【Haichuan Chemical Salary Updates】Wanhua Chemical ranked first in terms of profits in the basic chemicals sector for 2019, with Hengli Petrochemical and Zhejiang Longsheng following closely behind
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According to data from the China Business Industry Research Institute, Wanhua Chemical was the most profitable company, achieving a net profit of 10.13 billion yuan in 2019； Hengli Petrochemical came in second, with a net profit of 10.025 billion yuan. The profits of the first two companies differed by only 100 million yuan. Zhejiang Longsheng ranked third in terms of net profit, with a figure of 5.023 billion yuan. Hengyi Petrochemical, Tongkun Shares, Longmao Baili, Junzheng Group, Hualu Hengsheng, Rongsheng Petrochemical, and China Giant Stone ranked 4th to 10th in terms of net profit.
Private enterprises are accelerating their entry into petrochemical integration projects, with large scales, high starting points, and rapid progress.
Expanding upstream, there are more mixed types
Hengli Petrochemical completed the construction of its ethylene plant this year; it also has an industrial park in Luzhou, Sichuan, worth 20 billion yuan, and its financial management is better than that of Yantai Wanhua
Hengli Group has been making significant investment decisions recently, allocating 281 billion yuan to four major projects. 2020-03-30 11:19 It was recently reported that Hengli Group’s investment projects are spread across the country; these include a 26 billion yuan investment plan in Guizhou, a 150 billion yuan project for a complete coal chemical industry chain in Shaanxi, a 23 billion yuan Hengli Fashion Industrial Park in Jiangsu, and an 82 billion yuan project for petrochemical downstream industries and new materials in Guangdong. The total capital required for the aforementioned 4 major projects that Hengli Group plans to invest in amounts to 281 billion yuan.
The second phase of the Yantai Industrial Park includes more than 20 projects related to the ethylene and polyurethane industries as well as new chemical materials, all of which are progressing steadily. The million-ton ethylene project began construction in full scale in December 2018, with completion planned for the second half of 2020; once completed and operational, it will further enhance Wanhua’s market competitiveness. As the core of Wanhua’s Yantai Industrial Park Phase II project, the million-ton ethylene plant is the first of its kind in Shandong Province. With a total investment of 16.8 billion yuan and covering an area of 2,400 mu, it involves the construction of facilities for producing 1 million tons of ethylene per year, 450,000 tons of LLDPE per year, 400,000 tons of PVC per year, 150,000 tons of EO per year, 300,000 tons and 650,000 tons of PO/SM per year, as well as 50,000 tons of butadiene per year, along with various supporting infrastructure.