① was affected by the downturn in the industrial product market, the prices of nearly 10 major products fell year-on-year, of which the average price of polyvinyl alcohol (PVA) fell from 20115.78 yuan / ton to 11907.15 yuan / ton, down 40.81% from the third quarter of last year. ② Wanwei High-tech (600063.SH) revenue and net profit data both declined in the first three quarters of this year, of which the latter fell nearly 70 per cent year-on-year.
Financial Associated Press, October 18 (Reporter Zhao Zixiang)Affected by the downturn in the industrial product market, the prices of nearly 10 major products fell year-on-year, while revenue and net profit figures of 600063.SH both declined in the first three quarters of this year, with the latter falling nearly 70 per cent year-on-year.
This evening, Wanwei Hi-Tech released its third quarterly report, showing that revenue in the first three quarters was about 6.698 billion yuan, down 7.98 percent from the same period last year, while the net profit of returning home was about 406 million yuan, down 68.62 percent from the same period last year.
Among them, in the third quarter alone, the company achieved a net profit of 59.428 million yuan, down 81.7% from the same period last year. For poor performance, the company said it was mainly due to the decline in the prices of major products such as polyvinyl alcohol, vinyl acetate, high-strength and high-mode products during the reporting period, and the narrowing of profit margins.
The third-quarter operating data disclosed that night showed that Wanwei Hi-Tech sold almost all its major products from January to September this year compared with the same period last year, with the average price of polyvinyl alcohol (PVA) falling from 20115.78 yuan / ton to 11907.15 yuan / ton, down 40.81% from the third quarter of last year, and the average price of vinyl acetate was also down 53.73% from the same period last year.
In addition, the prices of cement (- 17.34%), clinker (- 18.65%), PVA high strength and high modulus fiber (- 33.77%), polyester chips (- 8.18%), redispersible rubber powder (- 29.49%) and PVB resin (- 22.35%) all decreased in varying degrees compared with the same period last year.
The company said that the above major production and operating data are unaudited and are only for investors to keep abreast of the company's production and operation, but the decline in product prices has not improved significantly compared with the operating data in the first half of this year.
The company previously said in its semi-annual report that due to the slow recovery of the global industrial chain and high inflation, the domestic industrial product market was in the doldrums, the real estate industry was declining, and the prices of chemical products were significantly reduced.
A reporter from the Financial Associated Press noted that according to data released by the National Bureau of Statistics a few days ago, the revenue of the chemical raw materials and products industry from January to August in 2023 was 5.6033 trillion yuan, down 6.7 percent from the same period last year, and the total profit was 263.4 billion yuan, down 51.1 percent from the same period last year. Among them, revenue in August was 737 billion yuan, up 3.3% from the same period last year, and total profits were 37.8 billion yuan, down 23.3% from the same period last year.
Wanwei high-tech announcement also shows that by the end of the third quarter, the company's current operating activities generated net cash flow of 230 million yuan, a decrease of 88.21% compared with the same period last year. The company said it was mainly due to a reduction in cash received from the sale of goods and the provision of labor services.