Doubling growth! Satellite Chemical’s net profit growth exceeded 126% in the first half of 2026.

On August 14, satellite Chemical, a leading domestic light hydrocarbon chemical company, released its semi-annual report for 2026. Against the backdrop of a recovery in the prosperity of the olefin industry chain, relying on the advantages of an integrated full industry chain, the company's revenue and profit increased significantly.

In the first half of the year, operating income reached 307.13 billion yuan, a year-on-year increase of 30.92%; net profit attributable to shareholders was 62.27 billion yuan, compared to 27.44 billion yuan in the same period last year, a year-on-year increase of 126.94%.

Building C2/C3 Dual Industry Chains to Fortify Light Hydrocarbon Chemical Barriers

Satellite Chemical is one of the few chemical enterprises in China achieving full-chain operations with ethane and propane light hydrocarbon feedstocks. It has built an integrated C2 and C3 dual industry chain system, opening up the complete business chain of "ethane and propane resources — terminals — fleet — receiving facilities — C2/C3 deep processing."

On the feedstock logistics front, the company has acquired scarce terminal resources through joint ventures and locked in exclusive pipeline export channels; it has configured a fleet of 21 dedicated light hydrocarbon transport ships to achieve autonomous control over overseas feedstock maritime transport, reducing supply chain risks caused by external logistics fluctuations.

On the production front, the Lianyungang ethylene base and the Pinghu propylene base operate synergistically, with a total annual light hydrocarbon receiving scale exceeding 4 million tons, providing feedstock guarantee for the stable production of olefin units and enhancing risk resistance amidst chemical cycle fluctuations.

Extending to Downstream New Materials to Open Up Growth Space for Chemicals

While profitability in the main olefin business is being released, the company continues to expand into high value-added fine chemicals and new materials, laying out multiple projects under construction to consolidate the growth momentum of its chemical business in the medium and long term.

Key projects under construction include the Lianyungang Petrochemical High-end New Materials Project, the Pinghu Petrochemical 200,000-ton Fine Acrylic Acid Technical Revamp Project, and the Satellite Future R&D Center. Simultaneously, the construction of new materials projects such as the 160,000-ton polymer emulsion (Phase I) and 300,000-ton SAP is being advanced to promote the upgrade of the product structure from basic chemical raw materials to high-end new materials.

Increasing R&D Investment to Strengthen Chemical Technology Accumulation

During the reporting period, the company continued to increase investment in chemical technology R&D. R&D investment in the first half of the year was 9.9 billion yuan, a year-on-year increase of 28.10%. Relying on the construction of the R&D center platform, it facilitates the technological implementation of new materials projects, hedges against chemical industry cycle fluctuations through technological iteration, and consolidates the company's competitive advantages in the fields of light hydrocarbon chemicals and new materials.