China General Plastics Corporation · TWSE:1305
China General Plastics — Q1 2022 Earnings Presentation
23 slides from China General Plastics's earnings presentation, May 17, 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 2022/5/17 Time Itinerary Reporter 14:00〜〜 VIP Registration 14:30 胡吉宏 執行副總 Q1 Review & Q2 Outlook Otto Hu, 14:30〜〜 Executive VP 15:00 郭建洲 經理 Q1 Finance Information C C Kuo, Manager 林漢福 副董事長 15:00〜〜 Wrap up / Q & A H F Lin, 15:30 Vice Chair
Slide 2: Q1 Review & Q2 Outlook
China General Plastics Corp. Q1 Review & Q2 Outlook Reported by: Otto Hu May 17, 2022
Slide 3: Q1 2022 Review: PVC Feedstock
Q1 2022 Review: PVC Feedstock Ethylene Global crude oil price surges above $100 per barrel amid the ongoing Russia-Ukraine war and modest oil output hike plan of OPEC+. North East Asia ethylene price reached $1,400/mt, the highest level since July 2018. Demand of ethylene derivatives and downstrea
Slide 4: Q1 2022 Review: PVC
Q1 2022 Review: PVC Chinese PVC sales improved after Lunar New Year due to the high prices of crude and feedstock. The Chinese PVC inventory was low even though the O/P rate reached 80% above. More low-cost carbide PVC exported in later Q1 and influenced the market prices especially in SEA and Sou
Slide 5: Q1 2022 Review: Consolidated Sales
Q1 2022 Review: Consolidated Sales The consolidated sales in Q1 was NT$5.307B, which increased by NT$0.328B YoY (6.6%↑) . Sales Quantities (KT) Q1 2022 Q1 2021 Growth VCM/PVC 105 108 (3) PVC Products 13 16 (3) Alkaline 15 15 (0) Total 133 139 (6) 5
Slide 6: Crude Oil & Ethylene Price Trend
Crude Oil & Ethylene Price Trend Unit:US$/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) 7
Slide 8: Q2 2022 Outlook: Ethylene
Q2 2022 Outlook: Ethylene Crude supply/demand uncertainties have widened amid increase in output resisted by OPEC, EU proposes gradual ban on Russian oil and COVID-19 pandemic lockdown in China. US ethylene production has hit record high in Q1 2022 and the exports in Q1 also rose by nearly 20% f
Slide 9: Q2 2022 Outlook: EDC/VCM
Q2 2022 Outlook: EDC/VCM EDC Global caustic soda price hikes and profitable margin on electrolysis derivatives which may drive producers to increase chlor-alkali rate and EDC production. In Q1 2022, US EDC production and exports both decreased due to heavy turnaround and operational issues. Howeve
Slide 10: Q2 2022 Outlook: PVC Supply (I)
Q2 2022 Outlook: PVC Supply (I) Both PVC production and sales in China have been impacted since end March due to the lockdowns for Covid-19. The heavy PVC inventory seems to ease after the Labor Holidays. The more turnarounds of PVC plants and the sudden cost increase by 12% or more on carbide are
Slide 11: Q2 2022 Outlook: PVC Supply (II)
Q2 2022 Outlook: PVC Supply (II) The US PVC output was 10% higher YoY in Q1. However, feedstock supplies are still tight because some T/A of chlor- alkali plants are not yet completed and F/M for mechanical shutdown or power outage. The PVC inventory is expected to increase, but the supply capabil
Slide 12: Q2 2022 Outlook: PVC Demand (I)
Q2 2022 Outlook: PVC Demand (I) The future and spot PVC prices in China have been moving high after Labor Holidays. The lockdowns for Covid-19 is expected to ease near soon. It is expected to have a good start from the demand of infrastructure for pipe, wire & cable. The PVC buyers outside China
Slide 13: Q2 2022 Outlook: PVC Demand (II)
Q2 2022 Outlook: PVC Demand (II) SEA: The downstream fabricators had moved from China to Vietnam, Myanmar and Cambodia due to trade war. The order intakes here have been more due to Chinese lockdowns for Covid-19 this year. The situation is expected to last till Q2. Africa &M East: The demand he
Slide 14: Q2 2022 Outlook: PVC Products
Q2 2022 Outlook: PVC Products The prices of construction materials including PVC pipe have much increased in past one year. So, we have reasonable profit margin to run pipe business. The Taiwanese new house opening in Q1 was good and is expected to provide pipe consumption later this year. Even th
Slide 15: 2022 Outlook: PVC Sold by Month
2022 Outlook : PVC Sold by Month PVC total quantity sold in 2022: YTD in April:more than 137kt YoY increase: +4% Unit:KMT 15
Slide 16: 2022 Outlook: Consolidated Sales
2022 Outlook : Consolidated Sales CGPC consolidated net revenue: YTD in April : 7.022B YoY increase: +8.5% Unit:NT$ M 16
Slide 17: Finance information
China General Plastics Corporation and Subsidiaries Finance information Reporter : C.C.Kuo Manager Date : 2022, May 17
Slide 18: 2022 Q1 Sales by product (NT$million)
2022 Q1 Sales by product (NT$million) 18
Slide 19: 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.-Mar. Jan.-Mar. FY FY FY Sales 5,307 4,979 6.6% 20,222 13,733 15,118 Cost of goods sold 4,556 3,382 34.7% 15,181 10,374 13,148 Gross pro
Slide 20: Financial ratio analysis
China General Plastics Corporation and Subsidiaries Financial ratio analysis 2022 2021 2021 2020 2019 Jan.-Mar. Jan.-Mar. FY FY FY Operating income margin(%) 4.6 22.2 16.4 15.7 5.1 Net income margin(%) 9.4 17.8 13.0 13.1 4.6 Debt ratio(%) 28 26 30 26 29 Current ratio(%) 295 269 264 265 288 Quick rat
Slide 21: 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 22: Thank You
Thank You 22
Slide 23: Q&A
O&xeA
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