Wanhua Chemical achieves a net profit of 12.7 billion yuan in the first three quarters of 2023

On the evening of October 13, Wanhua Chemical released its third-quarter report, with a revenue of 132.554 billion yuan for the first three quarters of 2023, a year-on-year increase of 1.64%. However, due to factors such as product price declines, the net profit was 12.703 billion yuan, a year-on-year reduction of 6.65%.

Looking at each quarter, Wanhua Chemical accelerated in the third quarter, with a quarterly revenue of 44.928 billion yuan, up 8.78% year on year; the net profit was 4.135 billion yuan, a growth rate of 28.21% compared to the same period of last year. This was the first time in the past six quarters that the net profit has achieved a year-on-year increase in a single quarter.

On the same day, Wanhua Chemical released its main operating data for the third quarter. Benefiting from the extension of the industrial chain and the release of new plant capacities, the sales volumes of the company's major business segments have all shown a growth trend compared to the same period of last year. From January to September, Wanhua Chemical achieved a sales volume of 3.59 million tons for the polyurethane series products, a year-on-year increase of 14.33%; 9.87 million tons for the petrochemical series products, a year-on-year increase of 10.53%; and 1.17 million tons for the fine chemicals and new materials series products, a significant increase of 72.06% on the year. In terms of sales revenue, the polyurethane series and petrochemical series products continued to contribute the most, with revenues of 50.081 billion yuan and 51.867 billion yuan, accounting for 38% and 39% of the total revenue, respectively; the revenue of the fine chemicals and new materials series products was 17.593 billion yuan, up 15.25% on annual basis.