HengliPetrochemicalCo.,Ltd.
AnnualReport2021Abridgement
Company Code: 600346
ANNUAL REPORT 01
Dear shareholders, partners and employees:
The tides of Bohai Sea have brought warmth to the springy Northern country.
Despite occasional coldness, the changing seasons have marked the inevitable passage
of time.
The hardships we have experienced last year were partly expected and partly
unexpected. We have expected that the Covid-19 pandemic would recur, geopolitical
conflicts would continue, and the world economy would be sluggish. However, the
frequency of pandemic recurrence, the depth of the conflicts, and the difficulty of
economic recovery were still beyond our expectations. The chill was felt by every
individual at this juncture of profound changes unseen in a century.
However, hardships are, in themselves, a kind of growth and experience, an
inevitable path towards realizing great dreams. We must overcome the difficulties of
the present in order to achieve a better future.
“Misfortune may be a blessing in disguise.” During this chess game which
features both “crisis” and “opportunity”, “the unchanged” and “changes”, and
lockdown and opening-up, the pioneering Hengli people have made each move with
deliberation to prepare for crises in advance and seize opportunities when they come,
to seek innovation in the unchanged and remain composed during changes, and to
meditate during lockdown to pursue a brighter future during opening-up. This year
has witnessed Hengli sailing farther away through the rise and fall of history.
However arduous and long the journey is, it will eventually be accomplished.
Against the backdrop of profound changes unseen in a century intertwined with the
Covid-19 pandemic, Hengli is willing to be as hard-working as “old cattle” to develop
its main businesses, achieve critical breakthroughs, deploy the innovation chain
around its industrial chain, and vice versa. During this year, we have promoted the
“dual circulation strategy” and focused on developing the real economy, putting
into operation the 200kt industrial yarn project of Hengli Chemical Fiber, as well as
the polyester film project and degradable plastic project of Kanghui New Material.
Hengli (Huizhou) Industrial Park, Hengli Refining and Chemical Fine Chemical Park
Phase I Project, and Hengli (Yangtze River Delta) International New Materials
Industrial Base have started construction. The PBS biodegradable plastic project with
an annual output of 900kt and the lithium battery diaphragm project with an annual
output of 1.6 billion square meters have been successively launched. The business
ANNUAL REPORT 02
layout of the five major industrial chains has begun to emerge. We have carried out a
groundbreaking reform to overcome the shortcomings of the industry. We have
become the second company in the world and the first in China that is able to produce
12-micron silicon-coated release laminated lithium battery protective film on line.
Our production of MLCC release base film accounted for over 65% of the national
total, and our high-purity tetrahydrofuran (THF) has been used in the innovative
research and development of drugs to treat Covid-19. Our self-developed Henglink
industrial Internet platform has been rated as a “demonstration project” by the
Ministry of Industry and Information Technology and selected as a provincial
industrial Internet platform in Liaoning Province. We have applied for 700 patented
technologies, with cutting-edge technologies in multiple industries. We have
attached equal importance to environmental protection and intelligent
manufacturing to achieve leading efficiency. As a petrochemical company,
despite owning large-scale equipment, Hengli still insists on environmental protection
and intelligent manufacturing throughout its manufacturing process. Since Hengli
Petrochemical, Hengli Refinery, and Hengke New Material were awarded “National
Green Factory” in 2017 and 2020 respectively, Hengli Chemical Fiber was also
awarded in early 2022. So far, four companies under Hengli have been awarded
“National Green Factory”. We have always embraced gratitude and responsibility,
and stayed true to our mission since we first started business. Hengli has actively
supported poverty alleviation, student aid and disaster relief among other public
welfare projects. Our efforts have paid off as in 2021, Hengli made it to the “Top 100
Global Enterprises”, won the “National Labor Day Medal”, and achieved gratifying
annual operating data: our annual operating income amounted to RMB197.97 billion,
a year-on-year increase of 29.2%; our annual profit amounted to RMB15.53 billion, a
year-on-year increase of 15.37%.
Data and honors speak louder than wor
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