恆力石化(600346.SH)2019年度淨利潤預增228.06%左右
格隆匯1月17日丨恆力石化(600346.SH)公佈，2019年度預計實現歸屬於上市公司股東的淨利潤為109億元左右，與上年同期相比，將增加約75.77億元左右，同比增加228.06%左右。
2019年度預計實現歸屬於上市公司股東的扣除非經常性損益的淨利潤為101.3億元左右，與上年同期相比，將增加73.37億元左右，同比增加262.68%左右。
本期業績預增的主要原因如下：1、報告期內，公司獨資建設的恆力2000萬噸/年煉化一體化項目於2019年5月份在業內率先達成項目全面投產和正式商業運營。恆力煉化作為國內首家一次性建成的2000萬噸級以上現代化煉廠，擁有國際領先、國內一流的工藝技術水平與裝置加工規模，單體加工能力強，技術選型先進，產能一體化程度高，且在電力、能源、港口、碼頭、罐區、儲運等方面具備卓越且齊備的產業配套，在技術、工藝、規模與成本等運作要素的綜合競爭優勢突出。煉化項目投產不僅實現了上市公司在煉化、芳烴等上游行業稀缺產能領域的戰略性突破，也顯著優化、提升了上市公司的業務一體化結構與持續盈利能力，併成為了公司當前利潤結構的主要來源與業績增長的主要驅動力。
2、報告期內，一方面受益於2019年全年度較好的PTA行業供需格局與平均價差水平，公司PTA業務利潤水平同比實現提升；另一方面，公司聚酯化纖業務全年也保持着相對較為穩定的盈利區間。公司原有PTA、聚酯業務經營情況良好，也進一步增厚了公司盈利。
因此，在“原油-芳烴、乙烯-PTA、乙二醇-聚酯-民用絲、工業絲、聚脂薄膜、工程塑料”全產業鏈全新業務格局經營驅動下，公司上下游產能一體化協同的精細化產品經營模式有效新增、優化、提升了上市公司的盈利點、盈利結構與盈利能力，加上公司一直堅守的全產業鏈發展模式與高端產品研發路線，實施產能規模化與市場差異化並重的發展路徑，推動實現了上市公司營收規模的較快增長和盈利能力的顯著改善。
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