Satellite Chemical Expects 48% to 67.31% Increase in Net Profit for 2023

Satellite Chemical: Net Profit for 2023 is Expected to Increase by 48% to 67.31%

Satellite Chemical released its performance forecast on the evening of January 22, expecting the net profit attributable to the parent for 2023 to be between 4.6 billion and 5.2 billion yuan, an increase of 48% to 67.31% compared to the same period last year (restated). During the reporting period, the company accelerated the strategic development of becoming a low-carbon chemical new material technology company with light-weight raw materials as its core, constructing a technology innovation system in four major areas including high-performance catalysts, polymer new materials, new energy materials, and process development. Facilities for (poly)styrene, ethanolamine, battery-grade DMC, electronic-grade hydrogen peroxide, and other products were successively put into operation, continuously enhancing the technological innovation advantage of the integrated industrial chain.