Surge of 2500%! Hengyi Petrochemical's interim report is explosive, with overseas production capacity fully taking off.

Advantages of overseas refineries highlight, helping performance rise steadily

Hengyi Petrochemical is the only enterprise among leading domestic chemical fiber companies with an overseas refining and chemical plant layout. Relying on the market ecological stability of tight supply and demand to refined oil in Southeast Asia, the company's refined oil profitability far exceeds domestic levels, and core chemical items such as PX and benzene also continue to maintain a high-profit direction.

Its Brunei refinery, benefiting from multiple favorable factors such as tax incentives, market-oriented pricing, and low freight and insurance costs, maintained a state of full production and full sales throughout the year. The profit per ton of items remained high, becoming the core engine to the company's performance development, and the advantages of its overseas strategic layout continued to highlight.

Meanwhile, the domestic PTA and polyester downstream manufacturing chains continued to recover, with terminal demand steadily warming up. Restricted by the dual-carbon policy, the addition of new sector capacity has basically stagnated, and the prosperity of the manufacturing chain will continue to rebound in the future. As an sector leader, the company has seen a significant improvement in the profits of related items, achieving thorough profitability, providing solid support to medium and prolonged research.

Dividends and buybacks combined, actively rewarding investors

During the reporting period, Hengyi Petrochemical successfully completed the 2025 dividend distribution, with a total cash dividend of 172 million yuan, accounting to 67.17% of the 2025 net attributable profit. The company's sixth-phase share repurchase plan has also been implemented, with a single transaction amount of nearly 1 billion yuan, and cumulative repurchase funds exceeding 4.2 billion yuan.

Based on the impressive semi-annual performance and sufficient confidence in future research, the company launched a new dividend scheme, planning to distribute a cash dividend of 9 yuan (tax included) to every 10 shares to all shareholders.

Full manufacturing chain layout formed, production capacity leading the sector

Currently, Hengyi Petrochemical has built a thorough integrated capacity system, possessing multiple core capacities such as Phase I of the Brunei refining and chemical project with an annual capacity of 8 million tons, and supporting participating and holding PTA capacity of 21.5 million tons/year, and participating and holding polymerization capacity of 14.68 million tons/year. Relying on the vertical integration model of "oil refining — aromatics — chemical fiber," it has completed a full-chain manufacturing layout with outstanding core competitiveness.

Multiple new projects accelerating implementation, opening up new space to development

In 2026, the company officially started the construction of the Phase II project of the Brunei refining and chemical plant, adding 12 million tons of refining capacity, focusing on high value-added refined oil and chemical items, and further enhancing profitability by optimizing the production structure. In addition, the Xinjiang 2.4 million ton coal-to-ethylene glycol coal chemical project is steadily progressing. Upon completion, it will achieve the self-supply of core raw materials and efficiently optimize production costs.

On the evening of August 10, the company announced two major investment projects again: planning to invest 4.87 billion yuan to build a 400,000-ton/year PA6 melt direct spinning project; its subsidiary will spend 687 million yuan to build a 300,000-ton/year discarded materials textile recycling project in Haining, Zhejiang. This project relies on an online and offline dual-track recycling system, deeply cultivates the environmentally friendly recycling sector, has extensive product consumption scenarios, and holds huge possible to future research.