JUNZHENG(SH:601216)2024-05-21 09:47Group 1: Company Overview - The main business areas of the company include energy chemicals and chemical logistics [2] - The energy chemicals sector involves the manufacturing of chemical raw materials and products, including power generation, limestone mining, and production of various chemicals [2] - The chemical logistics sector covers liquid chemical transportation, container logistics, and tank leasing, with a controlled fleet of 115.73 million tons and 41,096 tanks as of the end of 2023 [2][3] Group 2: Financial Performance - The company achieved a net profit of 2.814 billion yuan in 2023, with the energy chemicals segment contributing 1.510 billion yuan and the chemical logistics segment contributing 1.304 billion yuan [3] - The company’s coal production in 2023 was 989,900 tons, with 335,400 tons used for power generation, 31,600 tons for chemical production, and the remaining 622,900 tons sold externally [3][4] Group 3: Production and Projects - The company generated 8.835 billion kWh of electricity in 2023 [4] - The company is currently constructing a 450 MW photovoltaic power project, with all preliminary procedures underway [4] - The company’s production of calcium carbide in 2023 was 1.9338 million tons [4] - The 300,000 tons/year BDO project and the 120,000 tons/year PTMEG project are expected to be completed by June 2024 [4][6] Group 4: Logistics and Shipping - As of the end of 2023, the company operated 76 vessels with a total deadweight of 115.73 million tons, covering both domestic and international trade routes [5] - The company has established long-term partnerships with major domestic chemical enterprises for its coastal shipping operations [5] - The company anticipates that shipping prices will remain high due to global supply chain disruptions [5] Group 5: Future Investments and Dividends - The company plans to invest in building chemical shipping vessels and has a structured dividend policy based on its operational performance and market conditions [6] - Future projects in the chemical logistics sector include the construction of chemical shipping vessels, while the energy chemicals sector will focus on biodegradable plastics [6]