Home / Metal News / Cobalt & Lithium / Sinopec will make a net profit of 884 million yuan in the first half of 1.6 billion this year.
Sinopec will make a net profit of 884 million yuan in the first half of 1.6 billion this year.
Jul 9,2020 09:52CST
translation
The content below was translated by Tencent automatically for reference.

SMM News: July 7, Sinopec Technology disclosed the 2020 half-year results Express, during the reporting period, the company's overall operating performance continued to improve, achieving operating income of 7.588 billion yuan, an increase of 25.08% over the same period last year; the total profit realized was 1.066 billion yuan, an increase of 34.93% over the same period last year; and the net profit belonging to shareholders of listed companies was 884 million yuan, an increase of 34.93% over the same period last year.

中材科技

2020 semi-annual main financial data and indicators (unit: yuan)

It is reported that Sinopec revolves around the direction of strategic emerging industries such as new energy, new materials, energy saving and emission reduction, with the industrial development idea of "strengthening blades, making better glass fiber, and enlarging lithium film". Concentrate superior resources to vigorously develop the three leading industries of wind power blades, glass fiber and products, and lithium battery separators, while engaged in the R & D, manufacture and sales of high-pressure composite gas cylinders, membrane materials and other composite products.

In 2019, Sinopec's total revenue reached 13.59 billion, an increase of 18.6% over the same period last year, a three-year high; the net profit attributed to the owner of the parent company was 1.38 billion, an increase of 48.4% over the same period last year, and the growth rate remained above 20% for three consecutive years. Among them, the company's lithium film industry achieved an operating income of 350 million yuan (Hunan Zhongli was consolidated in September 2019), with a net profit of about 60 million yuan. During the reporting period, the company's gross profit margin was 26.9%.

Affected by the epidemic situation at home and abroad in the first quarter, the demand for diaphragm has been weak. in March, the State Council issued a policy to extend the subsidy for the purchase of new energy vehicles and exempt vehicle purchase tax, and the demand for lithium battery separator has been improving for a long time. Sinopec Technology keeps pace with the demand for rapid expansion of production capacity, and the diaphragm capacity will reach 1.6 billion tons in 2020. With the improvement of capacity utilization, the diaphragm business is expected to rise in volume.

A few days ago, Sinopec said in response to questions from investors that Hunan Zhongli, a subsidiary of the company, is a leading and large-scale wet diaphragm and coated diaphragm solution provider in China. It has international advanced wet diaphragm manufacturing and testing equipment, is committed to the import substitution of diaphragm products, and is the main supplier of mainstream power battery enterprises at home and abroad. The company's products have a full range of 5-16 μ m base film and coating products batch supply capacity, at present, 7 μ m diaphragm has taken the lead in the industry to achieve batch supply to head strategic customers.

Click to register: "2020 (Fifth) China International Nickel, Cobalt and Lithium Summit Forum"

Scan the code to sign up for the Ni-Co-Li Summit or apply to join the SMM industry exchange group:

Diaphragm
Sinopec technology
production capacity

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Cobalt & Lithium EVENTS