Hai Yue Shares 6 Billion 200 Million Injection Of Petrochemical Industry &Nbsp; Strategic Transformation "Icebreaking"

A planned increase plan for a long time Shares The ambition of reshaping the petrochemical industry is obvious. Reporters noted that, according to the plan disclosed, the investment project will reach the postpartum year, and the annual revenue will be estimated. profit The total amount is 8.9 times and 29 times that of the existing scale.

According to the fixed increase plan issued in April 28th, Hai Yue shares intends to issue a minimum price of 11.72 yuan / share, and the private placement will not exceed 68 million shares. capital No more than 800 million yuan will be used for the project to build 1 million 380 thousand tons of propane and mixed carbon four, which is used by 51% subsidiary subsidiary of Hai Yue.

Although the amount of fund-raising is not large, the total investment of the project is "heavyweight". According to reports, the total investment of 1 million 380 thousand tons of propane and mixed carbon four is estimated to be 6 billion 242 million yuan and the investment period is 3 years. The forecast revenue is quite impressive: after the project is released, the annual operating income is expected to reach 13 billion 170 million yuan, the total annual profit is 1 billion 780 million yuan, and the internal rate of return (after tax) is 22.68%.

In 2010, the total revenue and profit of Hai Yue shares amounted to 1 billion 476 million yuan and 61 million 333 thousand yuan. A simple comparison shows that the total amount of business revenue and profit is 8.9 times and 29 times of the existing scale, which is self-evident for future performance.

At present, oil sales (including refined oil and LPG) are the main source of revenue for the company, accounting for about 90% of the current main revenue. However, limited by the scarcity and monopoly of oil resources, the average annual gross profit margin of oil sales is only 4.55%, and the profit level is low. The main raw material for this investment project is LPG, which has the advantage of "taking materials locally". Propylene and polypropylene, industrial isooctane and so on are all market scarce products.

From the site selection, the main body of the project is located in the "petrochemical industry town" of Ningbo. There are many backbone chemical enterprises in the region, and there are world-class port Ningbo port. The petrochemical industry has a strong foundation, and the Yangtze River Delta region has strong demand for petrochemical products and has broad prospects for development.

For Hai Yue shares, the project is based on the strategic dream of reshaping the main business of petrochemical industry. According to the plan, as of the end of 2015, the company strives to build a comprehensive scale petrochemical enterprise with the annual sales revenue of more than ten billion yuan, and the profit and tax contribution exceeding 2 billion yuan, including petrochemical intensive processing, petrochemical storage and logistics services. In the 2010 annual report, the company revealed that it would make use of all the assets and funds that can be revitalize for the main business of petrochemical industry. The planned tourism and real estate business will be divestiture.

It is interesting to note that Hai Yue's stake in the petrochemical industry will face greater financial pressure and how to maintain stable performance in the construction cycle. In this regard, Societe Generale Securities analysts believe that the company will form the future petrochemical production oriented, venture capital and oil trade supplemented by the business structure. Before the completion of the petrochemical project, the company relied on the annual release of investment income, and its business performance is expected to be relatively stable. It is reported that Hai Yue shares venture capital business has invested nearly 500 million yuan, and is about to enter the harvest period. It is expected that about 20 companies will declare IPO this year.