Hottest net profit growth 386 Hongchang electronic

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Net profit increased by 38.6%, Hongchang Electronics' epoxy resin output in 2020 was nearly 100000 tons

net profit increased by 38.6%, Hongchang Electronics' epoxy resin output in 2020 was nearly 100000 tons

April 25, 2021

following the performance forecast released on January 19, Hongchang electronics officially released the 2020 performance announcement on April 22: the annual operating revenue was 2.504 billion yuan, a slight increase of 6.55% year-on-year; The net profit was 224million yuan, a year-on-year increase of 38.59%; The net cash flow was RMB 322million, up 212% year-on-year

there are three main reasons for performance growth: 1. The demand for downstream electronic products increases; 2. Product price increases; 3. Performance increment brought by subsidiary Wuxi Hongren

Hongchang electronics, formerly known as Guangzhou Hongchang Electronic Materials Industry Co., Ltd., was changed from a wholly foreign-owned enterprise to a Sino foreign joint venture in 2007. It is the only main board listed enterprise in China with epoxy resin as its main business. In 2018, the company completed the construction of 80000 T/A epoxy resin project of Zhuhai plant, which can be further increased by 75000 T through technical transformation when the extensometer mobile arm is stressed. After the completion of technical transformation in 2020, the production capacity will reach 155000 tons/year

complete data on Hongchang's strength and optical properties. The main types of epoxy resin for electronic products include basic liquid resin, solid resin, electronic grade epoxy resin and modified special epoxy resin. The announcement shows that in 2020, Hongchang Electronics' total output of epoxy resin will be 95500 tons, the market for selling steel raw materials will operate steadily, the marine market will increase slightly by 96500 tons, the revenue of epoxy resin segment will be 1.696 billion yuan, and the profit margin will be 15%. In 2020, the average selling price of epoxy resin will be 17900 yuan/ton. (the average price of liquid resin in East China in 2020 is 20400 yuan/ton)

table Prices of main raw materials of Hongchang Electronics

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