HCSC(SH:600378) Zheng Quan Shi Bao Wang·2025-10-29 14:43Core Insights - The company reported a revenue of 12.32 billion yuan for the first three quarters of 2023, representing a year-on-year growth of 44.57% [1] - The fluorochemical business segment saw a revenue increase of 26.53% and a gross profit increase of 63.34% during the same period, driven by improved supply-demand dynamics and rising prices [1][2] Financial Performance - For the first three quarters, the company achieved total revenue of 123.01 billion yuan, a 20.5% increase year-on-year [1] - In Q3 alone, revenue reached 45.41 billion yuan, marking a 22.33% year-on-year growth, with net profit increasing by 84.3% to 5.87 billion yuan [1] - The average selling price of fluorocarbon chemicals was 44,400 yuan per ton, up 48.59% year-on-year due to quota policies and improved market conditions [2] Business Segments - The fluorochemical segment's strong performance was supported by a favorable competitive landscape and steady downstream demand, leading to higher average prices for refrigerants and other fluorocarbon chemicals [1][2] - The electronic chemicals segment faced intense competition, resulting in a decline in average prices for fluorinated gases, but the company adopted a volume-over-price strategy to maintain market share [2] - The high-end manufacturing chemical materials segment experienced a revenue growth of 8.50% and a gross profit growth of 8.56% [2] Project Development - Key projects are progressing as planned, including the 26,000 tons/year high-performance organic fluorine materials project and the 46,600 tons/year specialized new materials project [3] - The company is expanding its international presence and has approved a plan for subsidiaries to engage in financial derivatives trading, with a maximum contract value of 44 million USD per trading day [3]