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Inner Mongolia Junzheng’s net profit in 2022 was 4.157 billion yuan! The 300,000-ton BDO and 120,000-ton PTMEG projects are progressing smoothly! Author/Source: BDO Research Institute Date: 2023-05-05 Clicks: 26 On May 28, Inner Mongolia Junzheng Energy Chemical Group Co., Ltd. released its annual report for 2022. During the reporting period, the company achieved operating revenue of 21.46 billion yuan, a year-on-year increase of 11.22% ； The net profit attributable to the shareholders of the listed company was 4.157 billion yuan, a decrease of 8.35% on a year-on-year basis ； The net profit attributable to the shareholders of the listed company, after deducting non-recurring gains and losses, was 3.217 billion yuan, a decrease of 24.80% on a year-on-year basis. At the end of the reporting period, the company’s total assets amounted to 38.845 billion yuan, representing a year-on-year increase of 7.63%. During the reporting period, the green biodegradable plastics project was constructed in phases in accordance with the approvals issued by the local development and reform commission; the first phase involved the construction of a 300,000-ton/year BDO plant, a 120,000-ton/year PTMEG plant, as well as the corresponding supporting facilities. As of the end of the reporting period, the projects related to the circular industry chain for green, low-carbon, environmentally friendly and biodegradable plastics were progressing smoothly. The 300,000 tons per year BDO project and the 120,000 tons per year PTMEG project had each completed 20% of their total construction progress, while the 3 million tons per year coking project had reached 32% completion. The upgrade project for calcium carbide had reached 50% of its total construction progress. While constructing the aforementioned projects, the company is actively advancing the construction of supporting projects in its industrial chain, including a 550,000-ton/year methanol comprehensive utilization project and an 80,000-ton ferrosilicon upgrading project. Comprehensively advancing and building green, low-carbon, environmentally friendly, and biodegradable plastic recycling industry chains from a high starting point with high standards is of great significance for the company’s future development. The report shows that for the green, low-carbon, environmentally friendly and biodegradable plastic recycling industry chain project invested in by the company, the main production processes employ the world’s most advanced technologies; it meets the industry’s standards for clean production in terms of energy savings, safety, environmental protection, quality, and automation. The acetylene raw material processing unit uses the world’s most advanced 81,000 KVA calcium carbide furnace, for which the company holds independent intellectual property rights, along with corresponding production processes ； The BDO plant adopts the BDO (1,4-butanediol) technology from UK-based KTS (formerly INVISTA), with an annual production capacity of 300,000 tons per unit. Explanation of changes in operating revenue and costs: The operating revenue for this period was 21,459,660,549.37 yuan, an increase of 2,164,706,064.83 yuan compared to the same period last year, representing a growth rate of 11.22%. The main reasons for the change are: an increase in the service prices and volume in the chemical logistics segment during this period, along with the inclusion of Zhensheng Energy Saving within the company’s consolidated financial statements, which led to an increase in operating revenue. The operating cost for this period was 16,061,486,852.52 yuan, an increase of 3,492,533,041.59 yuan compared to the same period last year, representing a growth rate of 27.79%. The main reason for the change is that the prices of raw materials and fuel in the energy and chemical sector increased on a year-on-year basis during this period, resulting in an increase in operating costs as well ； In this period, Zhensheng Energy Saving will be included in the company’s consolidated financial statements ； The increase in the scale of core business in the chemical logistics segment led to a rise in operating costs on a year-on-year basis.