Yantai Spandex pull off aramid industry chain Integration Prologue
KeywordsSpandex prologue Aramid
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Yantai Spandex (002254) The three quarterly reports released today show that the company has invested more than 6 million yuan in the purchase of one of its main raw materials suppliers Yantai Yu Xiang Fine Chemical Co., Ltd. 35% of the equity. The company integrates domestic aramid industry chain Prologue formally opened. In the first three quarters of this year, Yantai spandex to achieve operating income of nearly 1.1 billion yuan, an increase of 36.35%, attributable to the listed company shareholders net profit of nearly 190 million yuan, an increase of 178.11%. The company said the sharp rise in performance was mainly attributable to the rebound in spandex prices. Affected by the recovery of the downstream textile industry, since the two quarter of last year, spandex prices overall upward trend, the reporting period, the average price of spandex increased year-on-year, sales have also increased; at the same time, as the global market began to recover, the volume of production and sales increased significantly year-on-year. It is reported that Yu-Xiang chemical industry is mainly engaged in the production of acyl chloride products, acyl chlorine is the main raw material of aramid, accounting for nearly 1/3 of the cost. As a new industry, domestic aramid development has been deeply restricted by raw material supply, domestic suppliers of raw materials small size, resistance to risk ability, product quality is not stable, the increase in its supply capacity is also lagging behind the expansion of aramid speed. For the resorcinol, this contradiction is particularly prominent. Yantai Spandex said, in order to protect the stability of the company's raw material supply, after consultation with Yu-Xiang Chemical shareholders, the company acquired 35% of the stock of Yu-Xiang Chemical, become its first major shareholder. The company will take advantage of the strong research and development strength, advanced management experience and industry influence, to help Yu Xiang Chemical improve production technology, improve management level, stabilize product quality, reduce production costs, and make strong acyl chlorine main business, so that it becomes the domestic first-class aramid raw material suppliers, At the same time for the company Aramid Industry development to provide adequate and stable raw material protection. At the same time, the company also said that will be timely to Yue Xiang chemical to increase capital, expand its production scale, when necessary to intervene in the production of benzoyl chloride, for the company to the Aramid industry to provide raw materials to ensure that the production cost reduction. At present, because of the short development time, Aramid industry in China has not yet formed a complete industrial chain from raw material supply to downstream application. and Yantai spandex as the main domestic aramid manufacturers, in the integration of the industrial chain has a unique advantage. The company said that in addition to raw material supply, but also timely intervention in the downstream market, promote the domestic Aramid high-end application market development.
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