EASTERN SHENGHONG(SZ:000301)2022-12-04 10:26Group 1: Company Overview - Jiangsu Dongfang Shenghong Co., Ltd. reported a net profit forecast of 1.45-1.75 billion CNY for 2019, representing a year-on-year growth of 50-80% [2] - The company has a production capacity of 2.1 million tons of differentiated polyester filament, with nearly 90% of its products being differentiated [3] Group 2: Business Segments - The company operates in three main segments: 1. Chemical fiber segment, with DTY accounting for 55% of total capacity, ranking first among similar enterprises [3] 2. Petrochemical segment, including two subsidiaries in Lianyungang with an annual PTA production capacity of 1.5 million tons [3] 3. Thermal power segment, providing steam services to local dyeing and textile enterprises, with an investment of 1 billion CNY planned for expansion [3] Group 3: Integrated Refining Project - The integrated refining project was included in the national petrochemical industry planning and has a total investment of 67.6 billion CNY, expected to generate nearly 100 billion CNY in revenue and around 10 billion CNY in net profit upon completion [3][4] - The project has seven advantages, including scale, technology, product, location, integration, park collaboration, and industry experience [4] Group 4: Project Progress and Financials - As of February 2020, 30 process packages have been completed, and infrastructure construction is ongoing, with over 5 billion CNY already invested [5] - The company plans to add 200,000 tons of differentiated fiber capacity by May-June 2020 and 2.4 million tons of PTA capacity by the end of Q3 2020 [5][6] - Total capital for the refining project is 67.6 billion CNY, with 19 billion CNY planned for equity financing [6] Group 5: Financing and Loans - The company has secured a total of 48.6 billion CNY in loans, with 41.5 billion CNY from a syndicate led by Industrial and Commercial Bank of China [6]