China General Plastics Corporation · TWSE:1305
China General Plastics — Q3 2020 Earnings Presentation
25 slides from China General Plastics's earnings presentation, Nov 17, 2020
Slide 1: China General Plastics Corp. Investor Conference
華夏海灣塑膠股份有限公司 China General Plastics Corp. Investor Conference 2020/11/17 Time Itinerary Reporter 14:00〜〜 VIP Registration 14:30 胡吉宏 副總經理 2020 Q3 Review & Q4 Outlook Otto Hu, 14:30〜〜 Vice President 15:00 郭建洲 經理 2020 Q1~Q3 Finance Information C C Kuo, Manager 林漢福 副董事長 15:00〜〜 Q&A H F Lin, 15:30 Vice C
Slide 2: 2020 Q3 Review & Outlook
China General Plastics Corp. 2020 Q3 Review & 2020 Q3 Outlook Reported by: Otto Hu November 17, 2020
Slide 3: 2020 Q3 Review: Ethylene & EDC
2020 Q3 Review: Ethylene & EDC The global lockdowns had been lifted in end Q2 and Q3 gradually. The overall economics improved and the ethylene demand recovered. Q3 ethylene import in China increased by 14.9% QoQ. The T/A and unexpected shutdowns also made supply tight. The market price was pushed t
Slide 4: 2020 Q3 Review: PVC
2020 Q3 Review: PVC PVC producers had arranged T/A for the poor demand because of Covid-19. The PVC productions decreased further because of Hurricane Laura and production issues in US. Therefore, the low PVC inventory problems have been spreading to global markets. After lockdown lifting, customers
Slide 5: Q3 Review: Consolidated Sales
2020 Q3 Review: Consolidated Sales The consolidated net revenue was NT$9.141B, which decreased by NT$2.267B YoY. Sales Quantities (KMT) 2020 2019 Growth VCM/PVC 258 317 (59) PVC products 47 49 (2) Alkaline 43 43 1 Total 347 408 (60) 5
Slide 6: CGPC 2020 Beach Cleaning-1
CGPC 2020 Beach Cleaning-1 There were 207 people joined the beach cleaning on 2020/9/19. Thanks for the live report by EBC News. 6 Confidential
Slide 7: CGPC 2020 Beach Cleaning - 2
CGPC 2020 Beach Cleaning - 2 SRB in: PRRSBBBRARZA sh Pie: MBEASMHKAASA 45 Ei: RMR / tt HOH
Slide 8: Taiwan Corporate Sustainability Award
Taiwan Corporate Sustainability Award CGPC is aiming at corporate sustainability to reach ESG. We joined the TCSA competition this August and were awarded the prizes below. Taiwan Taiwan TOP50 in mixed corporate sustainability Platinum Platinum prize for written report in conventional industries
Slide 9: Crude Oil & Ethylene Price Trend
Crude Oil & Ethylene Price Trend Unit:US$/bbl WTI Unit:US$/MT CFR NEA (Platts) 9
Slide 10: PVC/VCM/EDC Price Trend
PVC/VCM/EDC Price Trend Unit:US$/MT CFR NEA (Platts) 10
Slide 11: 2020 Q4 Outlook: Ethylene
2020 Q4 Outlook: Ethylene The successful oil production cut deals and positive demand put crude price going up. The 2nd Covid-19 pandemic happened both in US and Europe may take lockdowns again. The crude is expected to stay at $40/bbl and link with naphtha at not so high price. The year to Q3 ethyl
Slide 12: 2020 Q4 Outlook: EDC
2020 Q4 Outlook: EDC The year to Q3 OP rate of chlor-alkali in US was 78%, which was much lower than 87% same time in last year. The export quantity in Q3 decreased by 52% YoY. The caustic soda prices for both Asian export and China domestic market have been stable and encouraging higher OP in C/A a
Slide 13: 2020 Q4 Outlook: PVC Supply (I)
2020 Q4 Outlook: PVC Supply (I) PVC import in China has much increased so far this year. The PVC export decreased so much till Q3, but the situation has changed since Q4. The PVC is in good sales both in domestic and export markets. So, the current PVC inventory is lowest so far this year and is exp
Slide 14: 2020 Q4 Outlook: PVC Supply (II)
2020 Q4 Outlook: PVC Supply (II) Two US PVC producers announced F/M in August because of the delay in T/A and the power facility outages because of Hurricane Laura. The PVC supply is terribly tight and led inventory lower than 150kt, the abnormal record in the history. There is no need for producers
Slide 15: 2020 Q4 Outlook: PVC Demand
2020 Q4 Outlook: PVC Demand The PVC demand strongly recovered after the global lockdowns had been lifted. As the supply shortage, most of PVC cargoes have been moving to the markets with higher prices. The 2nd pandemic of Covid-19 seems serious in US and Europe. The lockdowns may be taken again. For
Slide 16: 2020 H2 Outlook: PVC Products
2020 H2 Outlook: PVC Products The new house start and used house trading in Q4 are expected better. This is because of low interest rate, foreign hot money return and real house demand improving. The infrastructure projects handled by the government are expected to continue. Therefore, the pipes, do
Slide 17: PVC Sales Quantity
2020 PVC Sales Quantity PVC total quantity sold in 2020: YTD: more than 318 kt YoY increase: -10% Unit:KT 17
Slide 18: Consolidated Sales
2020 Consolidated Sales CGPC consolidated net revenue: YTD: NT$10.526B YoY increase: -26% Unit:NT$’000 18
Slide 19: Finance information
China General Plastics Corporation and Subsidiaries Finance information Reporter : C.C.Kuo Manager Date : 2020, Nov. 17
Slide 20: Jan. – Sep. Sales by product (NT$million)
2020 Jan. – Sep. Sales by product (NT$million) 20
Slide 21: Consolidated Statements of Income
China General Plastics Corporation and Subsidiaries Consolidated Statements of Income (In millions of NTD, except per share data) 2020 2019 2019 2018 2017 Jan.- Jan.- YoY% FY FY FY Sep. Sep. Sales 9,141 11,407 -19.9% 15,118 15,193 14,702 Cost of goods sold 7,556 10,079 -25.0% 13,148 12,490 11,925 Gr
Slide 22: Financial ratio analysis
China General Plastics Corporation and Subsidiaries Financial ratio analysis 2020 2019 2019 2018 2017 Jan.-Sep. Jan.-Sep. FY FY FY Operating income margin(%) 8.5 3.9 5.1 10.4 11.2 Net income margin(%) 7.4 3.7 4.6 8.9 9.1 Debt ratio(%) 29 31 29 33 35 Current ratio(%) 277 298 288 300 336 Quick ratio(%
Slide 23: Disclaimer
Disclaimer This presentation includes the Company’s current information and any development or adjustments thereof will be published according to laws, regulations or rulings. The Company is not obligated to update or revise this presentation. The information in this presentation is not for investme
Slide 24: Thank You
CRM mR Thank You 24
Slide 25: Q&A
O&xeA
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