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Guanghui Energy: transform to a comprehensive service supplier of energy and chemical products

Release time:2020-04-28   Reading volume:954  source:guanghui

According to Guanghui Energy's 2019 annual report and the first quarterly report in 2020, Guanghui Energy will strengthen the enterprise's ability to innovate and create efficiency, and work faster to transform from a production supplier of energy and chemical products to a comprehensive service provider so as to improve operating efficiency in 2020.

Guanghui Energy has also clarified the overall development thinking for the next five years (from 2020 to 2024), namely, relying on the resources of gas, coal, and oil to take on the path of green development, low-carbon utilization, and clean growth.

According to the announcement, currently, Guanghui Energy’s natural gas business has just accounted for over half of its revenue. It is planned to achieve a 70%-80% proportion in the natural gas revenue through 4-5 years of advancement.

The third phase of 2# 160,000 cubic meters of storage tanks of Guanghui Energy's LNG receiving station and supporting terminal facilities in the Lusi Port Area of Nantong Port, Jiangsu Province, has completed 93% of the total engineering volume by the end of the first quarter of 2020; the LNG gasification and the supporting seawater intake and drainage project has proceeded to 99%; the Qitong natural gas pipeline project has also completed 99.9% of the total engineering volume.

In the first quarter of 2020, based on doing well in the epidemic prevention, the company actively resumed its production. Taking its clean refining and chemical branch in the coal and chemical sector as an example, all three production series of the first phase of the "10 million tons/year coal graded and upgraded clean utilization project" has been put into operation in the first quarter. At the end of the reporting period, the company's production load had resumed to the level before the epidemic. As the resumption of production conducts, the market demand will be gradually and effectively restored, and the market price of energy and chemical products will gradually recover and increase.

Guanghui Energy has acquired an annual revenue of 14.04 billion yuan in 2019, increasing 8.81% year-on-year, a net profit of 1.6 billion yuan, descending 8.12% year-on-year; a net profit deducting non-recurring gains and losses of 1.7 billion yuan, almost the same as that of 2018; a net cash flow profit generated by operating activities of 4.073 billion yuan.