Net profit of coal to ethylene glycol injected int

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The net profit of coal to ethylene glycol injection into Yili increased by 115.39%

recently, there are three quarterly reports disclosed by Yili Jieneng that deserve attention: first, the deduction of non net profit reached 558 million yuan, a year-on-year increase of 115.39%; Second, earnings per share was 0.2 yuan, a year-on-year increase of 53.85%; Third, the acquisition of the assets of the coal to ethylene glycol project of Ordos Xinhang Energy Co., Ltd. successfully passed the deliberation of the general meeting of shareholders and will enter

recently, China is still in the deep development stage of industrialization, information, urbanization, marketization and internationalization in the third quarter disclosed by Yili Jieneng. There are three noteworthy points: first, the deduction of non net profit reached 558 million yuan, a year-on-year increase of 115.39%; Second, earnings per share was 0.2 yuan, a year-on-year increase of 53.85%; Third, the acquisition of the assets of the coal to ethylene glycol project of Ordos Xinhang Energy Co., Ltd. has successfully passed the deliberation of the general meeting of shareholders and will enter the listed company

the consolidated balance sheet of coal to ethylene glycol of Xinhang company will significantly increase the company's net profit in the current year. Previously, Yili Jieneng has disclosed that in January this year, the operating income of ethylene glycol assets was 1.52 billion yuan, the net profit was 219 million yuan, and the operating cash flow 7 measured the residual depth of indentation h.9 billion yuan under the initial experimental force. After the comprehensive consolidation, it will make a "contribution" to the high performance growth of Yili Jieneng in 2018

in August 2018, elion Jieneng announced to invest 1.6 billion yuan to acquire the coal to ethylene glycol project cultivated by related parties for many years. Among the two enterprises acquired this time, the primary target asset is the coal to ethylene glycol project of Ordos Xinhang Energy Co., Ltd. Xinhang company is the main operator of ethylene glycol project, which means that if the acquisition is successful, the listed company will inject ethylene glycol business for the first time

At present, Yili Jieneng has 300000 tons of coal to ethylene glycol technology plant. Since it was put into operation, it has achieved "long, full and excellent" safe operation, with capacity utilization and production and marketing rate of 100% and superior products of more than 97%. It has obvious advantages in coal to ethylene glycol units that have realized industrialization and commercial operation in China: single set has high start-up load, long operation time, mature and stable technology, low production cost, high output, product quality comparable to oil routes, etc. The company has also been rated as the "top ten polyester factory suppliers" for many consecutive years

in October, during the annual routine shutdown and maintenance period of ethylene glycol synthesis unit, after optimizing the relevant technical links and replacing the catalyst, the operating load rate was more effectively increased to 110%

it is reported that the apparent consumption of ethylene glycol in China continues to grow every year. In 2018, it is expected to be about 17.5 million tons, with a self-sufficiency rate of less than 45%. In the ethylene glycol synthesis unit, 90% adopts the petroleum route and 10% adopts the coal based route. With the rapid rise of oil prices, the appreciation of the US dollar and China's increased tariffs on us ethylene glycol procurement, the production cost of synthetic ethylene glycol along the oil route has gradually increased. On the contrary, the process route of synthesizing ethylene glycol with elion oxalate began to "counter attack" because of its advantages of low cost, short process flow and high technical economy

at present, Yili ethylene glycol industrial chain can produce 600000 tons of feed gas per year. Among them, 300000 tons are used to synthesize ethylene glycol and 300000 tons are used to produce agricultural organic fertilizers such as urea and carbon based fertilizer through synthetic ammonia. At the same time, DMC (dimethyl carbonate), a by-product with economic value, can also be obtained in the process of producing ethylene glycol

in the future, the company can freely adjust the product business focus according to the relevant market scenarios of ethylene glycol and synthetic ammonia: first, through technological transformation and new equipment, the production capacity of ethylene glycol can be increased to 700000 tons/year in a short time; Second, expand the new "blue ocean" market with high gross profit through synthetic ammonia to produce carbon based compound fertilizer and other products

overcoming technical problems, circular economy will become a high growth regulator

elion ethylene glycol adopts a two-step oxalate route. Coal is used as raw material to obtain syngas, and then CO and H2 are separated and purified. CO is combined into oxalate through catalytic couple, and then hydrogenated with H2 to produce ethylene glycol. At the same time, this method can also obtain the by-product DMC with economic value. Due to the characteristics of short process flow, few intermediate links and low production cost, it has become the best choice for the comprehensive industrialization and commercial application of coal to ethylene glycol process

there are also great technical difficulties in this process route, which lies in the utilization and recovery of hydrogen. For example, after hydrogenation, the catalyst is coking, the service life is short, and the long-term operation is impossible, resulting in the size shrinkage of the unit in the cooling stage, but the overall operation rate is low; At the same time, excessive hydrogen consumption also directly leads to the increase of ethylene glycol production cost. It is reported that elion clean can effectively solve these problems. At present, the company's ethylene glycol synthesis unit has used hydrogenation catalyst for more than 15 months. At the same time, by adding PSA recovery system, more than 85% of hydrogen can be effectively recovered. This also effectively reduces the direct production cost: the hydrogen consumption per ton of ethylene glycol is reduced from 1800nm3 to 1580nm3. According to the calculation of 1 yuan per cubic meter of hydrogen, the direct production cost is reduced by 220 yuan/ton

in addition, through technological innovation, the technical team of the company has effectively solved the problem of high salt content in the discharged wastewater, so that the high salt water can achieve long-term stable operation and achieve zero discharge of sewage treatment; By adding the resin bed project, it is ensured that all the products extracted from the side line of ethylene glycol distillation are excellent products; By adding crude ethylene glycol recovery unit, the rate of excellent ethylene glycol products has been increased to more than 97%; Through the energy-saving and safe standby device, the recovery and utilization of residual gas in the overall project is improved, energy conservation and efficiency are realized, and the emission of residual gas is reduced to the greatest extent

with ethylene glycol assets in the bag, elion clean can expand and strengthen the circular economy industry, and its intention to build the flagship of "three-level growth strategy" is becoming more and more obvious. Whether Dalat banner integrated circular economy industrial park with Yili Chemical and calcium carbide branches as the core and PVC and caustic soda as the core products, or dugui Tara industrial park with Xinhang company and Yiding company as the core and ethylene glycol and carbon based fertilizer as the main products, all fully reflect the development advantages of "industrial ecology and Ecological Industrialization", and strive to realize the overall industrial synergy of the business of listed companies and integrate the existing mature business The combination of growth business and forward-looking business forms a unique competitive advantage in the industry


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