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    600346   CNE0000018V0

HENGLI PETROCHEMICAL CO.,LTD.

(600346)
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Hengli Petrochemical : China's Hengli Group starts building $3 billion east China chemical base

09/14/2021 | 04:55am EDT
Sacks of polyester-making chemicals, waiting to be shipped, are seen at Hengli Petrochemical's new refining, petrochemical complex at Changxing island in Dalian

SINGAPORE (Reuters) - Chinese privately controlled refiner and chemical producer Hengli Group said Tuesday it began building a 20 billion yuan ($3.10 billion) high-end chemicals manufacturing base in east China's Jiangsu province.

Hengli Petrochemical, the group's listed unit, started constructing on Tuesday in city of Suzhou a complex that makes polyester film and plastics with a combined production capacity of one million tonnes each year, the group said on its official Wechat account.

The polyester films are used in packaging, automobile and electronics sectors and the high-end plastics can be used to make biodegradable bags and in 3-D printing.

Hengli will build under the first phase a 800,000 tonne per year plant expected to be complete in about 30 months, a company representative said.

Hengli Petrochemical also operates one of China's single largest refineries in the northeast port city of Dalian, with a daily crude oil processing capacity of 400,000 barrels.

($1 = 6.4423 Chinese yuan renminbi)

(Reporting by Chen Aizhu, editing by Louise Heavens)


ę Reuters 2021
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Financials
Sales 2021 183 B 28 293 M 28 293 M
Net income 2021 16 610 M 2 569 M 2 569 M
Net Debt 2021 89 266 M 13 804 M 13 804 M
P/E ratio 2021 12,3x
Yield 2021 3,36%
Capitalization 204 B 31 590 M 31 589 M
EV / Sales 2021 1,60x
EV / Sales 2022 1,47x
Nbr of Employees 29 522
Free-Float 24,3%
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Number of Analysts 16
Last Close Price 29,02 CNY
Average target price 36,09 CNY
Spread / Average Target 24,3%
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Managers and Directors
Hong Wei Fan Chairman & General Manager
Xue Fen Liu Chief Financial Officer & Deputy General Manager
Wei Ming Wang Chairman-Supervisory Board
Li Li Independent Director
Long Di Cheng Independent Director
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