Hengyi Petrochemical's Net Profit in the First Three Quarters down 9.3% year-on-year
Hengyi Petrochemical disclosed the Q3 financial report on October 18, 2019. The company‘s revenue achieved 62.2 billion RMB in the three quarters of 2019, down 6.4% year-on-year; realized net profit of 2.21 billion RMB, down 9.3% year-on-year; Earnings per share was 0.78 RMB. During the reporting period, the company's gross profit margin was 5.8%, and the net profit margin was 4.4%, which was not significant changes year-on-year.
Hengyi Petrochemical Co. Ltd (000703.SZ), was listed in 2011. Hengyi Petrochemical is a global major supplier of purified terephthalic acid (PTA) and polyester. Hengyi Petrochemical has three subsidiaries who produce PTA: Zhejiang Yisheng Petrochemical Co., Ltd., Hainan Yisheng Petrochemical Co., Ltd. and Yisheng Dahua Petrochemical Co., Ltd. Hengyi Petrochemical also extend their business out of China. In May, 2019, Hengyi Industries'oil refinery and petrochemical plant at Pulau Muara Besar (PMB) in Bandar Seri Begawan, capital of Brunei entered trial operation phase.