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Performance of Unifull and Hailide in 2020 and Q1 2021

2021-04-25 09:39:23 CCFGroup

Zhejiang Unifull Industrial Fibre Co. Ltd. and Zhejiang Hailide New Material Co. Ltd. were the only 2 listed companies in polyester industrial yarn market in 2020. Zhejiang Sanwei Material Technology’s 200kt/year PIY unit commissioned operation in Jan 2021, which is a Wholly-owned subsidiary of Zhejiang Sanwei Rubber Item Co., Ltd. That meant listed companies in PIY market has increased to 3 in 2021.

Unifull and Hailide announced the performance report in 2020 and the performance projection for Q1 2021, and the brief summary is as following:

Performance report in 2020
Company		Unifull	Hailide
EPS (Yuan)		-1.71	0.21
Operating income	2020 (Billion Yuan)	2.446	3.538
	2019 (Billion Yuan)	3.084	4.014
	YOY change (%)	-20.68	-11.86
Net profit	2020 (Billion Yuan)	-0.751	0.253
	2019 (Billion Yuan)	61.16 million Yuan	0.327
	YOY change (%)	-1328.1	-22.79
Net asset value per share (Yuan)		0.13	2.37
ROE (%)		-174.03	8.7
Publication date		2021-4-15	2021-2-18

Unifull and Hailide witnessed apparently falling operating income and net profit on the year in 2020, especially Unifull, which was mainly due to the COVID-19 pandemic and falling feedstock price, coupled with fierce market competition, fluctuating exchange rate and surging sea freight.

Performance projection in Q1 2021
Company	Unifull	Hailide
Net profit attributed to the shareholders of the listed company (Yuan)	-65 to -47 million	0.10516～0.12344 billion
Performance change (YOY change)	19.62%～41.88%	130%～170%
Type	Falling losses	Growth
Net profit in Q1 2020 (Yuan)	-80.87 million	45.72 million
Publication date	2021-4-15	2021-3-31
Reasons for performance change	Net profit and operating income increased in Q1 2021 compared with the same period of last year after selling price of PIY and affiliated products rose on the year. High financial fee was the major cause for the losses due to large-scaled interest-bearing financial liabilities.	Chemical fiber and cord fabric market witnessed sound supply and demand pattern in Q1 2021. As a leading company, Hailide saw big growth. Meanwhile, the performance was poor in the first quarter of 2020 affected by the COVID-19 pandemic.

Based on the performance projection in Q1 2021, Unifull and Hailide saw apparently improving net profit.

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