Luxi Chemical disclosed its third quarter report on the evening of October 27. In the third quarter of this year, the company achieved revenue of 6.399 billion yuan, a year-on-year decrease of 6.92%; it achieved non-net profit of 379 million yuan, a year-on-year increase of 5.31%. The company's profit was negative in the second quarter, but it turned around in the third quarter and its operations improved.
The main business of Luxi Chemical includes new chemical materials, basic chemicals and other businesses. Among them, new chemical material products mainly include polycarbonate, nylon 6, caprolactam, polyols, etc.; basic chemical products mainly include methane chloride and dimethylmethane. Amides, etc.; other businesses mainly include chemical equipment manufacturing, chemical industry-related design and research and development, etc.
The chemical industry has recently experienced a trough, and profits of industry companies have generally been sluggish. In the 2023 interim report, Luxi Chemical disclosed that due to factors such as oil price fluctuations, the downturn in the chemical product market, and the entry into the weak cycle downward channel, the downstream demand for the company's chemical products is not good, and the year-on-year decrease in the price of main products is greater than the decrease in raw material prices. Due to other reasons, the company's operating performance declined significantly year-on-year.
At the end of September, Luxi Chemical accepted surveys from CICC, Danshuiquan Investment, China Universal Fund and other institutions. The company stated that the company's overall production and operation conditions have been normal recently, and most production companies in the park have maintained stable operations. Due to the impact of various factors such as rising and volatile oil prices and the supply and demand relationship in the product market, the market demand for some chemical products is relatively good. The company closely follows market changes, makes timely predictions and adjustments, seizes market opportunities, adheres to zero product inventory management, and basically maintains production and sales. balance.
For the later market of chemical products, the company believes that the market price changes of chemical products are affected by various factors and have certain uncertainties. The company will keep up with market changes, make timely predictions and adjustments, avoid market fluctuation risks, and strengthen cost management. , give full play to the advantages of the park's integration, seize market opportunities, achieve a balance between production and sales, and maximize the company's economic benefits.
It can be seen from the data disclosed in this third quarterly report that Luxi Chemical has come out of the trough. The company is the leading star chemical company in Shandong, with obvious advantages in park integration and perfect product layout. As China's economic fundamentals improve and downstream demand improves, the company's operations are expected to continue to improve.
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