PTA: Sluggish Market To Lower Corporate Revenues

The reduction of polyester products revenue in listed companies is closely related to polyester polyester Market in 2015.

2015 is undoubtedly a tough year for polyester polyester industry.

In the background of polyester production capacity in stages and structural surplus, the demand for products also showed a downturn, and the polyester market overall showed a downward trend.

At the same time, from the end of 5 in 2015, international oil prices once again entered the bottom road. The collapse of international oil prices had a significant impact on polyester market, polyester chip, polyester filament, polyester staple fiber and other products.

It continued to go down.

In 2015, Rongsheng Petrochemical achieved a revenue of about 28 billion 746 million yuan, down 9.64% from the same period last year. The Tong Kun group achieved a revenue of about 21 billion 754 million yuan, a decrease of 13.31% over the same period last year, and Huaxi shares achieved a revenue of about 2 billion 13 million yuan, a decrease of 2.58% over the same period last year. Chunhui shares achieved a profit of about 663 million yuan, down 36.67% from the same period last year.

The main reason for the decrease in revenue is the reduction in the revenue from its polyester products.

For example, Tong Kun's Polyester drafting silk product has achieved a profit of about 4 billion 165 million yuan, a decrease of 16.35% compared with the same period last year. The Dacron plus yarn has achieved a profit of about 2 billion 963 million yuan, a decrease of 7.07 compared with the same period last year. The pet preoriented yarn has achieved a profit of about 12 billion 70 million yuan, a decrease of 18.53 compared to the same period last year, and the composite silk has achieved a profit of about 339 million yuan and a 14.02% reduction in the same ratio.

Huaxi polyester staple fiber achieved a revenue of about 1 billion 751 million yuan, down 10.10% from the same period last year.

Chunhui shares polyester yarn to achieve revenue of about 510 million yuan, a decrease of 38.87% over the same period last year.

Although the reduction of oil prices has made polyester factories get cheaper raw materials, resulting in a decline in the cost of polyester production, but the low international oil price usually means that the economy is weak and the demand is weakening, which has exacerbated the embarrassment of the polyester industry's capacity stage and structural surplus, which has led to a decline in the profitability of the industry.

According to statistics, polyester staple fiber, polyester POY, DTY and FDY in 2015.

From 7522 yuan / ton, 7916.67 yuan / ton, 10020 yuan / ton, 7730 yuan / ton respectively, they fell to 6344 yuan / ton at the end of the year, 6083.64 yuan / ton, 7742 yuan / ton, 6551.11 yuan / ton respectively, the decrease was 14.48%, 23.15%, 22.73%, and 22.73% respectively.

A sharp drop in prices means a decline in profits.

Taking conventional varieties as an example, the average gross profit of POY150D/48F was -100.38 yuan / ton, down 143.97% compared to the same period, and the average gross profit of FDY150D/96F was 44.53 yuan / ton, and 86.96% fell from the same year.

Among them, the overall profitability of the POY industry is the most difficult.

POY itself melt cost is maintained at 5700 yuan / ton, the price descends greatly, make many enterprises are on the edge of profit and loss, even appear deficit.

The low price of products not only affects the profitability of polyester "leading" enterprises, but also some poor polyester enterprises, such as Minghui, have been eliminated because of the pressure of capital and the lack of advantages of their products.