中國心連心化肥(01866.HK):未來三年資本開支料100億人幣內
中國心連心化肥(01866.HK)執行董事閆蘊華表示,公司計劃未來三年,即2023年至2025年期間的資本開支約於100億元人民幣(下同)之內,而每年支付現金約20億元內,意味著公司現金流遠覆蓋其資本開支,未來三年會做好江西、新疆以及河南等現有項目。
她表示,公司目標未來逐步走向降低負債率、降低有機負債等方向,按照現時每年淨現金突破30億元,認為集團負債率最高的時期已過,未來發展會較健康及穩定。
她預料,集團今年上半年表現遜於上年同期,主要受到化工品拖累,又指即使近期尿素價格下降,惟觸底反彈,但受惠於成本端下降,下半年則按年改善,而全年則較去年保持穩定運作。
她透露,位於新疆的聚甲醛工廠建設項目正按照計劃進行,料明年底可投產,若全面投入,可為公司每年營業收入增加7億元,利潤則可增加2.2億元至2.5億元。
她表示,暫時未有江西DMF項目第三期的建設時間表,又認為近年DMF供應量足夠,加上疫情影響令下游開工率低,競爭激烈;她預料第三期投資額不高於30億元,形容其建設規模較小。
她表示,目前公司在高效肥的市佔率40%,而公司的化肥產品約50%來自高效肥,目標在未來三年將高效肥的產品佔比提高至介乎70%至80%。
她表示,公司致力開拓出口高端化肥產品至東南亞國家,透露目前於泰國發展的可能性較大,現正進行前期工作,料今年下半年或會有成果;她預計,今年整個行業出口尿素總量達約350萬噸,或受惠於內地法檢政策放寬。
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