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濱化股份(601678.SH):可能面臨產品毛利下降、業績下滑等風險
格隆匯 08-13 21:59

格隆匯8月13日丨濱化股份(601678.SH)公佈股票交易異常波動公吿,公司股票於2021年8月11日、8月12日、8月13日連續3個交易日內收盤價格漲幅偏離值累計超過20%,根據《上海證券交易所交易規則》的有關規定,屬於股票交易異常波動情形。

經公司自查,近期公司所處氯鹼行業市場環境、行業政策未發生重大調整。公司生產經營活動正常。公司主營產品為燒鹼、環氧丙烷等。公司子公司山東濱化氫能源有限公司2020年營業收入為663.59萬元,淨利潤-1379.61萬元,尚未實現盈利。

相關風險提示:

生產經營風險:公司於2021年7月22日披露了《濱化集團股份有限公司2021年半年度業績快報公吿》,2021年上半年實現營業收入同比增加58.75%,歸屬上市公司股東的淨利潤同比增加5492.42%。

報吿期內業績增長的主要原因為:公司主要產品產銷量較去年同期增加,燒鹼價格有所下降,環氧丙烷、三氯乙烯、四氯乙烯、氯丙烯等產品價格較去年同期均有較大幅度上漲,而部分主要原材料價格上漲幅度相對較小,產品毛利增加,導致公司效益大幅增加,同時上年比較基數較小。

若未來公司主要產品、原材料市場價格出現較大波動,公司可能面臨產品毛利下降、業績下滑的風險。

行業風險:目前國內氯鹼企業總體產能過剩,同質化競爭日趨加劇。氯鹼產品的質量和性能差異較小,產品的競爭能力主要體現在生產成本的高低。雖然公司目前具有一定的成本優勢,但如果不能繼續鞏固和提升成本優勢,公司將面臨產品競爭力下降的風險。

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