China Chemical's 2010 Net Profit Increases by 55%-65%

China Chemical Engineering Co., Ltd. released a pre-incident announcement on the 18th, saying that due to better operating efficiency, the company's revenue has grown steadily. It is expected that the 2010 net profit will increase by 55%-65% year-on-year.

In 2009, the company realized a net profit attributable to the shareholders of the listed company of 979 million yuan and a return of 0.26 yuan per share.

China Chemistry was jointly initiated and established by China Chemical Engineering Group, Shenhua Group and China Sinochem Corporation. It is an industrial engineering company integrating survey, design and construction. The company has a monopoly in the field of chemical engineering and has built more than 90% of domestic large and medium-sized chemicals, more than 70% of petrochemicals, and more than 30% of oil refining projects.

CITIC Securities stated that the company is in a monopoly position in many fields in the industry and has strong technology research and development strength. Technological innovation leads the industry's demand to continue to grow and the market prospects of overseas and mainland markets are unlimited. The company's driving forces for future growth include overseas business development, coal chemical business growth, environmental protection and business development, and diversified development in other construction areas.

In recent years, with the rise in oil prices and in line with the policy direction of domestic energy development, China Chemicals has made greater efforts in the coal chemical industry, and coal chemical engineering, as an emerging engineering market, has a higher gross profit margin.

Essence Securities believes that in order to solve current and future natural gas demand, China will use its abundant coal resources to actively develop coal-based natural gas and deliver it to long-distance pipelines from long-distance coal-producing areas to the national consumer market, in terms of energy security and energy conservation and emission reduction. Strategically significant. As the most competitive coal chemical engineering service provider in China, the company will benefit significantly from the acceleration of coal chemical investment.

The third quarterly report shows that from January to September 2010, the company achieved operating revenue of 22 billion yuan; net profit of 990 million yuan; and earnings per share of 0.2 yuan.

On the 18th, China Chemicals closed at 5.15 yuan, up 4.89%.