Qicai Chemical’s revenue in the first half of the year increased slightly, and a number of new material projects are progressing in an orderly manner

Latest News: On the evening of August 25, Qicai Chemical released its 2022 semi-annual report. In the first half of the year, Qicai Chemical achieved revenue of 633 million yuan, a year-on-year increase of 3.75%; net profit attributable to shareholders of listed companies was 25.678 million yuan, a year-on-year decrease of 77.27%.

The company said that the decline in performance in the first half of the year was mainly due to the following factors: the production and logistics of the park where the parent company was located in the first half of the year was hindered; the cost of equity incentives increased; the R&D investment increased year-on-year; the price of raw materials increased, and the cost increased.

The company also introduced the business development of new materials that investors are concerned about. The company said that it will focus on the development of special nylon, special monomers, and polyimide business based on special monomers. These new material businesses aim to mainly serve industries that are in line with future industrial development trends, such as automotive lightweighting, electronic product precision, food preservation and packaging, optical lenses, and 5G communication applications, with considerable market potential.

In order to strengthen the implementation of the derivative products of the company’s ammonia oxidation technology chain, the company signed an investment project admission agreement with the People’s Government of Yutai County, Shandong Province, and signed a strategic cooperation agreement with Shandong Lutai Chemical Co., Ltd.; in order to achieve the above goals, the company plans to invest 5.5 billion in total Yuan, investment and construction in three phases, the main products are an annual output of 16,000 tons of isophthalonitrile and an annual output of 4,000 tons of terephthalonitrile. The main products of the second phase are succinonitrile, adiponitrile, m-xylylenediamine, MXD6, nitrochlorobenzene and other products. The third-phase products are the expansion of special modified polyurethane high-end chemical new material products such as PPDI and XDI.

The project of resin materials and thermoplastic elastomers for new electronic components is planned to produce 3,400 tons of polyurethane elastomers and 1,000 tons of E resins per year. The project has entered the pilot test stage and is currently entering the industrialization construction stage. It is planned to reach production in the first quarter of 2023.

2000 tons/year photosensitive intermediates and 600 tons/year high-performance photoresist series products technical transformation project, the main product (2-diazo-1-naphthol-5-sodium sulfonate) is used for the production of photoresist One of the components of the photosensitizer raw material, the project has reached production.

The nylon (MXD6) project has entered the pilot production scale. The company is currently actively promoting the industrialization construction and plans to produce 5,000 tons of MXD6 products per year.