Open Source Securities Investors Investigate Red Polaroid

Latest News: On August 31, 2022, Hong Baoli (002165) announced that Gong Daolin from Kaiyuan Securities investigated our company on August 31, 2022.

The details are as follows:

The researchers exchanged views on the production and operation of the company’s propylene oxide, isopropanolamine, polyether and other products and their industry conditions.

Q: Status of propylene oxide plant and progress of technical renovation projects

Answer: The company’s annual output of 100,000 tons of propylene oxide adopts a new process of cumene co-oxidation with its own intellectual property rights, which has certain advantages in safety, environmental protection and product quality, and has good development prospects. Judging from the previous operation, the process is completely open, the device runs stably, and the product quality is excellent.

In order to further optimize the process, reduce costs and give full play to the advantages of scale, the company has launched a technical transformation project of propylene oxide plant, which can increase the production capacity of the existing plant to 250,000 tons with less investment. Since Jiangsu’s 14th Five-Year Plan for Energy Conservation has not yet been issued, the energy conservation approval of the project has been delayed. The company is actively carrying out preparatory work such as the design of technical transformation projects. The cyclopropane plant is now in a shutdown state.

At present, affected by the epidemic, the downstream demand is relatively weak, the propylene oxide market is weak, the product price is around 9,000 yuan / ton, and the overall profit level of the industry is relatively low and difficult.

Q: Isopropanolamine development expectations and production planning

Answer: Isopropanolamine is mainly used in titanium dioxide, electronic chemicals, spandex, pesticide intermediates, pharmaceutical intermediates, construction and other fields. Among them, electronic chemicals have undertaken the transfer of production capacity from Japan, South Korea, and Taiwan, and are still developing rapidly. At this stage, the market demand is expected to continue to increase. With the increasing emphasis on environmental protection in China, isopropanolamine is expected to be more widely used in more fields.

On the one hand, the company continues to tap the potential of existing plants to increase production capacity, and on the other hand, it is also actively evaluating production expansion plans.

The company actively explores domestic and foreign markets.

Q: Status of the polyether industry

Answer: The company’s rigid foam polyether is mainly used in refrigerator cabinets and refrigerated containers. Although affected by the overall domestic and foreign economic situation such as the epidemic, real estate, and logistics, the market demand for rigid foam combined polyether is declining. , The development of new technologies and the adoption of cost reduction measures, coupled with the low year-on-year price of main raw materials, etc., the gross profit margin of polyether maintained an upward trend in the first half of the year, especially in the second quarter.

In addition to the refrigerator cabinet and refrigerated container market, the company actively explores new application markets, such as increasing technological investment, developing new polyether varieties such as polyetheramine, low-VOC polyether, and high-elasticity. Industrial production is realized in the project of “Polyol Series Products”.

Hongbaoli’s main business: production and operation of rigid foam combination polyether, isopropanolamine, etc. (propylene oxide derivatives).