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[strong comments] chlor alkali chemical industry: Hot strategic change 2010-07-12 00:00 Click: second

Reason for change:
The company has obvious scale advantages in the industry, and is the largest manufacturer of polyvinyl chloride (PVC) and caustic soda in China. The company will actively integrate into Huayi's development strategy, realize the strategic transformation of the role of the largest manufacturer and the largest supplier, and the expansion of the company's business scope will pave the way for the company to implement the market integration strategy. On the secondary market, the unit was affected by the overall rebound of the chemical plate, and the volume was strong to limit.
Investment highlights:
1. Industry leader concept: it has obvious scale advantage in the industry, and is the largest manufacturer of PVC and caustic soda in China; in 2006, the company took the international market as the target, implemented the dislocation competition strategy of leading products caustic soda and PVC, expanded the export of products, and further increased the expansion of leading products to the international market. The 40000 t / a paste resin expansion project was successfully started on April 16, 2007. The annual output of PPVC resin in the new plant reached 22000 tons. At present, the company has become the largest supplier of special resin in East China for 120000 tons.
2. Equity participation in finance and equity investment: according to the annual report of 2007, as of the end of the report period, the financial assets available for sale of the company amounted to 315.1207 million yuan; the year-end balance of the financial assets available for sale increased by 248.2098 million yuan compared with the beginning of the year, with an increase ratio of 370.96%. The reason for the change is that the market price at the end of the year has risen. It mainly held Haitong Securities, with an initial investment of 10.2 million yuan and a book value of 277.9318 million yuan at the end of the period.
3. Major project: in March 2008, in order to meet the demand of Bayer and other companies in Shanghai Chemical Industrial Park for chlorine increment, and further consolidate the strategic positioning of Shanghai Tianyuan Huasheng Chemical Co., Ltd. as the sole chlorine supplier in Shanghai Chemical Industrial Zone, Huasheng Company plans to build a 150000 T / a caustic soda production line relying on the existing plant, namely the 150000 T / a caustic soda technology transformation project of Huasheng phase II Objective. The total investment of the project is about 534 million yuan, and it is planned to be completed and put into operation in the third quarter of 2008. From a strategic point of view, the company plans to increase the registered capital of Huasheng Company by 160.239 million yuan. After the completion of the project, the average annual sales revenue is 523.21 million yuan, the average annual profit is 117.76 million yuan, and the annual after tax profit is 78.9 million yuan. (source: smart financial terminal of money shaking)
Risk tips:
The pressure of rising prices of energy and raw materials. Electricity (including steam), ethylene, crude salt and transportation prices continue to rise, which will have a negative impact on the company's performance.
Related sectors:
chemical industry
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