Tong Kun'S Shares Will Be Re Thrown 16 Billion, And 2330 Mu In The Ocean Port To Build A Petrochemical Polyester Integration Project.

The Limited by Share Ltd of the Tong Kun group (hereinafter referred to as "Tong Kun") announced on February 13th that the company signed the investment cooperation agreement with the Jiangsu Tong Yang Kong Port Economic Development Zone Management Committee (hereinafter referred to as the "agreement"). According to the agreement, Tong Kun shares will invest about 16 billion yuan (including tax), and about 2330 mu in the new main plant planning area of Jiangsu Rudong Port Economic Development Zone, and the corresponding cogeneration land, logistics terminal land and inland port logistics land. The total construction land will be about 2610 mu, forming an annual production capacity of 2*250 million tons PTA, 900 thousand tons FDY and 1 million 500 thousand tons of POY. Leading enterprises in China's polyester filament manufacturing industry

Among them, the first phase of investment amounted to 12 billion yuan, the construction of 2*250 million tons of PTA, 300 thousand tons of FDY, 900 thousand tons of POY, supporting the corresponding public utility system, while expanding the coal-fired cogeneration project in the first phase of the port industrial zone heating point.

The two phase of investment is 4 billion yuan. The plan is to reserve 600 thousand tons of FDY and 600 thousand tons of POY in the original plant area, and build a coal-fired cogeneration project on the cogeneration land.

The reporter learned from the announcement that the Jiangsu Rudong port economic development zone is the Jiangsu Provincial Development Zone.

The port of Yang Kou is located at the front of the Yangtze River Delta economic zone. It is located at the junction of the Yangtze River "golden waterway" and the "Gold Coast" along the Chinese coast. The water depth of the channel is 17-25 meters. It is a deep-water seaport which is rare in the Eastern coastal areas of China and can be built with 300 thousand tons of wharfs. It can build 5-30 million ton berths and 66. It is an open port of the state and is one of the main markets of Sinopec, stone, new energy, new materials and heavy equipment.

The port of Yang Kou is committed to building an international standard of modern petrochemical industry base, a national first-class industrial base for new chemical materials, the most distinctive new metallurgical base in China, and the largest clean energy industrial base in China's coastal area.

Tong Kun shares said that in recent years, in the background of phasing out backward production capacity, the market share of chemical fiber has further gathered to the leading enterprises, and the PTA production capacity of private polyester leading enterprises accounts for more than half of the whole industry.

The self sufficiency rate of PTA in the private polyester leading enterprises has been continuously improved. In recent years, the rapid development of polyester fiber in Tung Kun shares has increased the demand for PTA, and the self sufficiency rate has been seriously inadequate. After the project is put into operation, the self-sufficiency rate of PTA in the downstream enterprises of the company can be improved, and it can be digested by itself.

Through the implementation of the project, it will help Tong Kun to realize the integration of industrial chain, enhance the cost advantages of scale and enhance the competitiveness of enterprises.

Tong Kun shares said that China's civilian polyester filament is a fully competitive industry. In order to enhance business stability and obtain cost advantages, polyester filament leading enterprises have extended the industrial chain to the upstream, starting from the refining and refining of crude oil, and creating the "aromatics PTA polyester and civilian silk" complete industrial chain, enhancing the flexibility and risk resistance ability of enterprise development.

At the same time, the demand for polyester filament products is developing towards diversification and high quality. Seize the market demand adjustment opportunity, introduce advanced production equipment, improve production intelligence and optimize the product structure of enterprises, has become an important choice to enhance the market competitiveness of enterprises and become bigger and bigger.

Southwest Securities analyst Huang Jingwen said, as China's polyester filament leader, Tong Kun shares industrial chain integration advantages, since 2018, Tong Kun shares new polyester filament production capacity of 1 million 100 thousand tons, the existing filament production capacity of 5 million 700 thousand tons / year, and 300 thousand tons / year Heng Bang phase four project, 300 thousand tons / year Heng excellent POY project, 300 thousand tons / year Heng you POY technical pformation project is steadily advancing, it is expected that by the end of 2019, Tong Kun polyester polyester filament production capacity will reach 6 million 600 thousand tons / year.

At the same time, Jiaxing petrochemical company has PTA production capacity of nearly 4 million tons / year. At present, the PTA self-sufficiency rate of the polyester filament is more than 80%. After the completion of the Rudong project, the full self-sufficiency of PTA will be achieved.

The company shares 20% stake in Zhejiang Petrochemical's 40 million ton refining and chemical integration project. The first phase 20 million tons will be produced in 2019, the raw material supply of the company can be guaranteed, and the complete industrial chain of "aromatics PTA polyester household silk" will be built, so as to enhance the enterprise's development flexibility and anti risk ability.

The industry also said that with the continuous production of polyester production capacity, Zhejiang Petrochemical was gradually put into operation, and Tong Kun shares will realize the overall support of the industrial chain.

The data obtained showed that as of September 30, 2018, the total assets of Tong Kun were 32 billion 234 million yuan, liabilities amounted to 16 billion 481 million yuan, and the asset liability ratio was 51.13% (the above data were not audited). In 2017 and 2018 2018, Tong Kun shares achieved 32 billion 814 million yuan and 30 billion 865 million yuan respectively, and the net profit attributable to shareholders of the parent company was 1 billion 761 million yuan and 2 billion 503 million yuan respectively.

At present, the company is in good operation and the scale of operation is expanding. The accumulated income from operation can provide necessary funds for foreign investment.

By the end of the press release, Tong Kun shares rose 4.27% to 12.20 yuan / share, with a market value of 22 billion 230 million yuan.