SunSirs: Net profit of Luxi Chemical in the first half of 2024 increased 503.72% Year-on-year, and China PA6 Prices Rose significantly

https://www.chemnet.com   Aug 30,2024 SunSirs

Luxi Chemical released its 2024 semi annual report on August 28th. In the first half of 2024, the company achieved a revenue of 14.041 billion RMB, a year-on-year increase of 21.63%; The net profit attributable to shareholders of the listed company was 1.171 billion RMB, a year-on-year increase of 503.72%; Basic earnings per share are 0.615 RMB.

In the first half of 2024, the price of pure benzene, a raw material for nylon 6, continued to rise, and downstream demand improved, pushing up market transaction prices. The demand for textile foreign trade is increasing, and with the improvement of domestic residents' consumption level, the demand for the clothing industry is steadily growing, especially under the stimulation of tourism consumption and new clothing consumption. The growth rate of chemical fiber clothing is significant, and downstream major consumption areas such as plastics and films have increased. From the adjustment trend of domestic demand policies, traditional industries such as textiles, civilian silk, and automobiles are warming up, and downstream demand for nylon 6 is increasing, resulting in a significant improvement in profitability.

The company's main business includes new chemical materials, basic chemicals, and other businesses. The company's chemical new material products mainly include polycarbonate, nylon 6, caprolactam, polyols, etc; Basic chemical products mainly include methane chloride and dimethylformamide, etc; Other businesses mainly include chemical equipment manufacturing, design and research and development related to the chemical industry.

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