China General Plastics Corporation · TWSE:1305
China General Plastics — Q3 2022 Earnings Presentation
19 slides from China General Plastics's earnings presentation, Nov 16, 2022
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 2022/11/16 Time Itinerary Reporter 15:30〜 VIP Registration 16:00 胡吉宏 執行副總 Review for Q3 & Outlook for Q4 Otto Hu, 16:00〜 Executive VP 16:30 郭建洲 經理 Finance Information for Q3 C C Kuo, Manager 林漢福 副董事長 16:30〜 Q&A H F Lin, 17:00 Vice Chairma
Slide 2: Q3 Review & Q4 Outlook
China General Plastics Corp. Q3 Review & Q4 Outlook Reported by: Otto Hu November 16, 2022
Slide 3: Q3 Review: PVC feedstocks
Q3 Review: PVC feedstocks Ethylene Crude and C2 derivatives prices fell amid repeated Covid outbreak in China and hiking interest rate. Despite the supply was disturbed by operational issues and turnaround in Japan and Korea, the NEA ethylene price in Q3 was still down more than 20% QoQ. And the A
Slide 4: Q3 Review: PVC
Q3 Review: PVC As the Chinese coal and carbide were at higher prices, which supported carbide-base PVC prices. So, the Chinese PVC prices hit the bottom in mid July and the O/P rate maintained at about 75%. The US PVC production had been normal since Q3. Owing to slow local demand, more and more U
Slide 5: Q3 Review: Consolidated Sales
Q3 Review: Consolidated Sales The consolidated sales in Q1~Q3 was NT$14.131B, which decreased by NT$0.969B YoY (6.4%↓) . Sales Quantities Q1~Q3 (KT) 2022 2021 Growth VCM/PVC 286 299 (13) PVC Products 39 48 (9) Alkaline 44 44 0 Total 369 391 (22) 5
Slide 6: Crude Oil & Ethylene Price Trend
Crude Oil & Ethylene Price Trend Unit:US$/bbl WTI Unit:US$/MT CFR NEA (Platts) 6
Slide 7: PVC/VCM/EDC Price Trend
PVC/VCM/EDC Price Trend Unit:US$/MT CFR NEA (Platts) 1,800 1,650 1,500 1,350 1,200 1,050 900 750 600 450 300 150 0 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 7
Slide 8: Q4 Outlook: Ethylene
Q4 Outlook: Ethylene Global economic growth tipped and the weak oil demand forecast slashes due to recession fears and continued the Covid restrictions in China. OPEC+ cut the oil production by 2 million barrels per day, the biggest cut since the pandemic, and EU ban on oil imports by sea from Rus
Slide 9: Q4 Outlook: EDC/VCM
Q4 Outlook: EDC/VCM EDC US EDC production and export volume in Q3 fell amid equipment failures of Westlake and operation rate cut by Olin. US EDC exports sharply rise to over 110 kt in September, the highest level since June 2020, but down slightly YoY in the first three quarters of 2022. US EDC e
Slide 10: Q4 Outlook: PVC Supply
Q4 Outlook: PVC Supply Chinese carbide-base PVC was reported with low O/P rate below 65% because of huge loss incurred due to low selling price and high cost. The PVC market inventory is still higher YoY in spite of the level getting low recently. The overall PVC inventory pressure might be eased
Slide 11: Q4 Outlook: PVC Demand
Q4 Outlook: PVC Demand After the 20th national congress of the communist party of China the control measures for Covid is expected to ease and the improving actions for housing industries are on going, Chinese PVC demand and outlook looks better eventually. The infrastructure and agriculture bot
Slide 12: Q4 Outlook: Opportunity & Change
Q4 Outlook: Opportunity & Change The Taiwanese domestic sales and profit margin of caustic soda have been excellent year to date in line with good global situation. We will keep full running till end of 2022. The housing business have declined since Q3. Nevertheless, we can still maintain our pipe
Slide 13: Finance information
China General Plastics Corporation and Subsidiaries Finance information Reporter : C.C.Kuo Manager Date : Nov. 16, 2022
Slide 14: 2022 Jan.–Sep. Sales by product
2022 Jan. – Sep. Sales by product (NT$million) 14
Slide 15: Consolidated Statements of Income
China General Plastics Corporation and Subsidiaries Consolidated Statements of Income (In millions of NTD, except per share data) 2022 2021 2021 2020 2019 YoY% Jan.-Sep. Jan.-Sep. FY FY FY Sales 14,131 15,100 -6.4% 20,222 13,733 15,118 Cost of goods sold 13,714 11,264 21.8% 15,181 10,374 13,148 Gros
Slide 16: Financial ratio analysis
China General Plastics Corporation and Subsidiaries Financial ratio analysis 2022 2021 2021 2020 2019 Jan.-Sep. Jan.-Sep. FY FY FY Operating income margin(%) (6.4) 16.8 16.4 15.6 5.1 Net income margin(%) (2.1) 13.3 13.0 13.1 4.6 Debt ratio(%) 39 35 30 26 29 Current ratio(%) 221 191 264 265 288 Quick
Slide 17: 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 invest
Slide 18: Thank You
Thank You “7a
Slide 19: Q&A
Q&A
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