Sinochem Holdings held a performance briefing for its listed companies on the Shanghai Stock Exchange on May 12 in Shanghai Stock Exchange Roadshow Center. Seven subsidiaries interpreted their performance in 2022 and Q1 2023, and interacted with online investors and analysts . Mr. Li Fuli, Vice President, Chief Financial Officer, and Member of Leading Party Group, attended the briefing.
This meeting is the first collective performance briefing held on the Shanghai Stock Exchange by a central SOE since the beginning of this year. As an important initiative for Sinochem Holdings to actively implement the three-year action plan of the State-owned Assets Supervision and Administration Commission (SASAC) to “improve the quality of state-controlled listed companies”, this briefing aims to enhance the company’s influence in the capital market, drive the paralleled increase of its intrinsic value and market value, and contribute to the healthy development of the capital market.
In his speech, Li Fuli stated that 2022 was the first full operational year after the restructuring of Sinochem Holdings. The company has achieved deep integration of its businesses, maintained overall stable operations, and made orderly progress in reform and development. The annual operating revenue reached 1.2 trillion yuan, a year-on-year increase of 7.1%, and the net profit was 22.1 billion yuan, a year-on-year increase of 1.5%. Since 2023, the chemical industry market has been relatively sluggish, and the company’s main industrial chains have faced complex external conditions. Sinochem Holdings has implemented various measures to improve quality and efficiency, and all levels of the company have born in mind the concept of “tightening belts” and achieved a good start in an unfavorable market environment, which has strengthened confidence in achieving the annual goals. In the long run, Sinochem Holdings has full confidence in the future business development and performance growth of its listed companies. It will continue to promote quality improvement of listed companies, strengthen communication with investors, increase support for listed companies, and continuously improve investor returns.
During the performance briefing, the achievements and challenges faced by the seven listed companies in the first quarter received attention from on-site and online investors and analysts. In the first quarter, Sinochem International’s revenue has been affected by the overall downturn in its industry, but after excluding factors such as natural rubber and price, it has achieved slight revenue growth. Adisseo has maintained sales growth and launched a special cost reduction plan to improve profitability. Cangzhou Dahua has achieved a good start in the first quarter with an operating revenue of 1.149 billion yuan and a total profit of 84.95 million yuan. KraussMaffei is vigorously promoting management improvement and operational enhancement, laying a solid foundation for future business structure optimization. Yangnong Chemical adheres to a market-oriented and innovation-driven approach, accelerating the construction of a digital factory to stabilize operating performance. Aeolus Tyre has earned 1.271 billion yuan in sales, a year-on-year increase of 20.71%, and the company’s profitability continued to strengthen. Haohua Chemical Science & Technology withstands industry downturn pressure, generating 2.058 billion yuan in revenue, an increase of 11.01% year-on-year.
Through this collective performance briefing, the management teams of Sinochem Holdings and its listed companies engaged in in-depth communication and exchanges with investors and analysts, further enhancing the company’s transparency and governance level, and strengthening investor confidence.
