HYPC(SZ:000703) Zheng Quan Ri Bao Wang·2025-10-30 08:14Core Viewpoint - Hengyi Petrochemical reported a net profit of 231 million yuan for the first three quarters of 2025, reflecting a year-on-year growth of 0.08%, while the net profit excluding non-recurring items surged by 273.30% to 78.8 million yuan [1] Group 1: Business Operations - The refining segment of Hengyi Petrochemical is performing steadily, with the Brunei refining project operating at full capacity and product structure continuously optimizing [2] - The polyester segment is experiencing a significant slowdown in production capacity growth, but demand remains stable, indicating an improving industry outlook [2] - The company has established a unique dual-main business model of "polyester + nylon" by successfully integrating the entire industrial chain from crude oil processing to chemical fiber products through its Brunei refining project [2] Group 2: New Projects - The trial production of the "120,000 tons/year caprolactam-polyamide integrated and supporting project" by the subsidiary Guangxi Hengyi New Materials has commenced, marking a significant milestone for the company [3] - The project covers an area of 1,717 acres and includes production facilities for 230,000 tons/year of cyclohexanone, 240,000 tons/year of hydrogen peroxide, and other key chemicals [3] - The Guangxi project is expected to enhance the synergy with the Brunei refining project, promoting resource sharing and cooperation between China's and ASEAN's petrochemical industries [3]