Gelonghui, January 16 | Hongbaoli (002165.SZ) announced its 2023 annual results forecast. Net profit attributable to shareholders of listed companies during the reporting period was 30 million yuan to 40 million yuan, turning a year-on-year loss into profit; net profit after deducting non-recurring profit and loss of 17 million yuan to 25 million yuan, a loss of 67.6512 million yuan for the same period last year; basic earnings per share of 0.0408 yuan/share — 0.0544 yuan/share.
During the reporting period, net profit attributable to shareholders of listed companies is expected to be positive, turning a loss into a profit. The main reasons are:
(1) Revenue: The company actively develops domestic and foreign markets for products and expands product sales. In terms of polyether products, on the one hand, the domestic downstream home appliance refrigerator industry has gradually improved since the second quarter, and the industry has increased significantly (note: refrigerator production increased by 14.5% in January-November); on the other hand, the company adheres to the concept of providing customers with value creation, accumulates and serves customers through years of innovation, actively expands the market share and sales volume of domestic refrigerator (cabinet) customers, and explores the international refrigerator market, and the specialty polyether application market; in isopropylamine products, developing new customers and expanding new application areas. The sales volume of the two main products continues to develop new customers and achieve record sales in key markets. The total volume increased by more than 27% year on year. Although product pricing was lowered due to a drop in the market price of propylene oxide as the main raw material (the average purchase price without tax fell 9.7% year on year), and technical improvements to the parking of the propane oxide plant at the Taixing base reduced the export revenue of propane oxide and derivatives in the current period, overall revenue still achieved a year-on-year increase;
(2) Profit side: A. The company developed new products and technologies through innovative methods to expand sales volume and increase product pricing voice; reduced manufacturing costs and improved product profitability by optimizing production processes and implementing cost reduction and efficiency measures; in addition, low prices of raw and auxiliary materials, declining shipping costs, and depreciation of RMB against the US dollar, etc., which increased product sales gross profit by 223 million yuan over the previous year, etc.; B. The technical reform of the propane oxide plant at Taixing base caused the subsidiary's operating loss of about 3.15 billion yuan (including the discontinuation of production of the device) loss, etc.); and Depreciation of 64.76 million yuan on assets such as equipment and inventory dismantled due to technical improvement projects affected profits, etc.