Recently, the rubber industry listed companies have been open to the public in 2018 business situation, in addition to jinneng technology, the mainland listed carbon black company black cat shares, longxing chemical, yongdong chemical have released detailed performance information, China Taiwan listed company international rubber also revealed its annual operating income and other data.
According to statistics, four large listed companies of carbon black have achieved a significant increase in their operating revenue in 2018. Among them, yongdong chemical has seen the largest increase of more than 30%, and all of these companies have attributed their revenue growth to the continuous increase of product selling prices.
From the perspective of net profit, only black cat carbon black among the three companies that released detailed results showed a decline in performance. However, in fact, yongdong chemical achieved a profit of 229 million yuan in the first three quarters, with a profit growth rate of 63.16%. That is to say, its profit rate slowed down in the fourth quarter.Longxing's high growth rate was based on a profit of 49 million yuan last year, and 133 million yuan is still below the industry average.
Fourth quarter, the black carbon industry suffered a "Waterloo"
With the industry, said China's carbon black industry has entered a boom in 2017, all the enterprises make a fortune, good situation continued in 2018 September, since the fourth quarter of carbon black products and manufacturing raw materials prices appear upside down, in October after the loss of lower the carbon black the full-year profit of the enterprise, and even some are so suffered losses.
He added that the price of coal tar, the main raw material for black carbon, began to rise in August. With the advent of the heating season with stricter environmental protection policies, the price of coal tar rose rapidly from 2,800 yuan (ton) to 4,200 yuan in mid-november, up nearly 50 percent.
But at this time on the market carbon black product price range has not kept up with, part of the enterprise has appeared the loss.However, in the middle of November, the international crude oil price fell like a cliff, and the market supply of coal tar was much larger than the demand, which led to the sharp decline of coal tar price. The carbon black industry was shocked and had to reduce the price. "buy high and sell low" made most enterprises complain bitterly in the fourth quarter.
It can be seen from the first three quarters report of black cat carbon black that the company's performance in the first nine months of 2018 is still in a hot state. The net profit attributable to the stock has reached 439 million yuan, an increase of 37.95% compared with the same period of last year. That is to say, the company made a net loss of 37 million yuan in the fourth quarter due to the price fluctuations of carbon black raw oil.
Several other companies also disclosed that fluctuations in raw material prices made it difficult for them to make a profit in the fourth quarter, which hurt their full-year net profit
Enterprise performance change analysis
Black carbon black, said in the first three quarters of the carbon black business operations, product profitability is relatively stable, can say a piece of hot production and operation condition, but since the fourth quarter, the raw oil price fluctuations, domestic economic growth and comprehensive trade friction intensified, etc factors, enterprise appeared a certain degree of operational losses and depreciation losses, annual earnings fell.
Longxing attributed the growth mainly to the sharp increase in gross profit. The company mentioned that with the adjustment of the "one size fits all" policy by the government, the main carbon black enterprises have maintained a high operating rate and absolute market share, and their profitability has increased and their business is in good condition.
Yongdong chemical pointed out that in the past year, the company has achieved a further improvement in internal management level, the continuous rise in product prices has increased the profit margin, at the same time, the company's new projects have been put into production in 2018, product supply capacity has been greatly improved.
In addition, these companies have expressed concerns about carbon black industry overcapacity situation, many enterprises in 2017 when the turnaround began large-scale expansion of production capacity, according to the rubber carbon black branch association statistics, in 2018, the new capacity is nearly 600000 tons, at present, the national carbon black production capacity has more than 7.5 million tons, while carbon black requirements only more than 550, ten thousand tons of production capacity, large surplus is still stopped in front of the enterprise of "mountain".
Rubber tire industry as carbon black products, the most direct, the most important downstream industry in recent years, due to the fr