NEWS
2022 Medium term Strategy Report of Chemical Industry: Kujingganlai (Extract)
2022-10-08
Since 2022, the situation in Russia and Ukraine has suddenly escalated, bringing about various impacts on global energy, fertilizer and other industries. On February 17, 2022, the Ukrainian military said that the civilian armed forces in eastern Ukraine launched artillery attacks on the government controlled area that day. The civil armed forces in eastern Ukraine accused the Urumqi government army of using heavy weapons to attack the areas under its control first. Tensions in eastern Uzbekistan continued to escalate. On February 24, Russian President Putin announced in his special speech to the Russian people that he had decided to carry out special military operations in the Donbas region. Russia and Ukraine are important energy, fertilizer and agricultural countries in the world. The escalation of the situation in Russia and Ukraine has caused significant fluctuations in the prices of global energy, food and other commodities, and has also had a profound impact on the global resource supply. Under the influence of such factors as the conflict between Russia and Ukraine and repeated domestic epidemics, from the perspective of the performance of the secondary market by industry, except for coal, building decoration, real estate, petroleum and petrochemical, and banking, all other industries fell, including the basic chemical industry, which fell by 19%.
The impact of the conflict between Russia and Ukraine on the basic chemical industry has been reflected in the performance of the first quarter of 2022. The chemical industry is under overall pressure, and profits are moving upward. In Q1 2022, SW basic chemical industry will achieve an operating profit of 78.475 billion yuan, with a year-on-year growth of 5.86%. The year-on-year growth rate of Q1 in 2021 is 198.94%. The substantial growth of the basic chemical industry in 2021, on the one hand, is due to the fact that the entire capital market has entered the scenario of taking the cycle and resource products as the main line of investment under the cycle rebound; on the other hand, it is due to the continuous increase in the penetration rate of new energy and the comprehensive outbreak of photovoltaic, wind power, new energy vehicles and other industrial chains brought about by policy support. The core of the decline of the basic chemical sector in 2022 is the upstream extrusion and the downstream conduction stagflation. In Q1 2022, among the seven major sectors of SW basic chemical industry, the chemical products sector will achieve an operating profit of 23.581 billion yuan, a year-on-year decrease of 6.57%; The operating profit of the chemical raw materials sector was 22.122 billion yuan, up 91.77% year on year; The agrochemical products sector achieved an operating profit of 21.209 billion yuan, an increase of 90.81% year on year; The operating profit of the plastic sector was 3.834 billion yuan, up 51.98% year on year; The operating profit of chemical fiber segment was 3.834 billion yuan, down 81.30% year on year; The operating profit of non-metallic materials II was 3.198 billion yuan, up 54.78% year on year; The operating profit of rubber segment was 697 million yuan, down 39.23% year on year.
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