Zibo Qixiang Tengda Chemical (SZ:002408)2025-05-22 08:02Business Overview - Qixiang Tengda is a state-controlled listed company primarily engaged in chemical manufacturing and international trade, with two main industrial chains: C3 and C4 [1] - The C3 industrial chain includes products such as propylene, epoxy propane, acrylic acid, and butyl acrylate, while the C4 chain includes products like methyl ethyl ketone, anhydride, and nitrile latex [1] Current Profitability - The company's profitable products include tert-butanol, isobutylene, methyl ethyl ketone, acrylic acid, and rubber [2] - In Q1, the company experienced a year-on-year decline in performance due to weak downstream demand, but expects improvement with the easing of trade tensions and declining raw material prices [2] Strategic Implementation - The company plans to extend its industrial chain towards downstream new materials, focusing on alcohols, esters, and polyethers in the C3 chain, and isobutylene and MMA in the C4 chain [2] - It aims to develop specialized chemicals for regional manufacturing needs and high-value fine chemical products through partnerships with research institutions [2] - Mergers and acquisitions will be utilized for rapid industrial chain integration [2] Future Strategic Positioning - Shandong Energy Group aims to position Qixiang Tengda as a key player in the petroleum chemical sector, leveraging its extensive industry experience and comprehensive C3 and C4 chain layout [3] Export Performance - In Q1, the company exported 154,100 tons of products, generating $11.2 million in foreign exchange, indicating continuous growth [4] - Major export regions include East Asia, Southeast Asia, West Asia, Europe, and South America, with flexible adjustments to export volumes based on domestic and international price differences [4]