2022Q1 performance is in line with expectations, revenue and profit maintain high growth
2022Q1 realized operating income of about 5.386 billion yuan, an increase of 71% over the same period last year, a net profit of about 520 million yuan, an increase of 88% over the same period last year, and a net profit of about 382 million yuan, an increase of 90% over the same period last year.
Revenue and profits continue to maintain rapid growth, mainly due to rising product prices, the company's Jiujiang base and Xinxiang fixed bed renovation project put into production.
Tianxin Coal Mine in Xinjiang entered the stage of trial production, with a production capacity of 900,000 tons / year in May 2022. The joint trial production of Tianxin Coal Industry in Manas County, a wholly-owned subsidiary of Xinjiang Xinlianxin Energy and Chemical Co., Ltd., a subsidiary of Xinlianxin Group, was approved and entered the trial production stage in an all-round way. The joint trial production is expected to take 6 months, during which individual acceptance of safety facilities, environmental protection facilities and project completion will be completed at the same time.
Tianxin Coal Industry, with an area of 5.03square kilometers, is mainly composed of gas coal and coking coal, with resource reserves of 220 million tons, planned production capacity of 1.2 million tons / year, and design capacity of 900,000 tons / year. It is expected that after it is put into production, it is expected to fully meet the coal demand of the Xinjiang base, and at the same time, with the help of the resource advantages of the Xinjiang region, realize the coordination of the upstream and downstream industrial chain of the company, further consolidate the cost advantage and optimize the strategic layout of the company.
Cryogenic energy has entered the field of special gas, and the rare gas refining project has been put into production in June 2022, which is an important measure for cryogenic energy companies to achieve product transformation and upgrading based on the high-end gas market and market-oriented.
At present, Cryogenic Energy Company has been audited by the customers of the largest semiconductor enterprises in South Korea and has become a qualified supplier of the most well-known semiconductor enterprises in China. Special gas products have developed from a single high-purity carbon monoxide and methane to a richer series of special gas products including electronic sulfur dioxide, electronic carbonyl sulfur, electronic carbon dioxide, ultra-pure oxygen, high-purity nitrogen xenon and so on.
Our view:
The company is steady and steady, adheres to the development strategy of "leading the total cost and differential competition", expands and strengthens the main chemical fertilizer industry, and extends to the upstream product chain of new energy and new materials, relying on the resources of Xinxiang, Xinjiang, Jiangxi and other areas. to the direction of diversification related to coal chemical industry.
It is recommended that you continue to pay attention.