Xinxiang Chemical Fiber (000949.SZ) announced its 2023 annual results with a net loss of 42.15 million yuan

According to the Zhitong Finance App, Xinxiang Chemical Fiber (000949.SZ) disclosed its 2023 annual report. The company achieved revenue of 7.379 billion yuan in 2023, up 1.43% year on year; net profit loss to mother of 42.15 million yuan, narrowing year on year; net profit loss of 66.61 million yuan, narrowing year on year; basic earnings per share -0.0296 yuan.

During the reporting period, the company's production was stable. Some production lines of the third phase of the project with an annual output of 100,000 tons of high-quality ultra-fine denier spandex fiber were put into operation, and production and sales of spandex fiber increased dramatically over the same period last year. Compared with the previous year, domestic sales of biomass cellulose filaments increased during the reporting period, and the export volume decreased slightly. The export volume still ranked first in the industry, accounting for 42% of domestic biomass cellulose filament exports. Spandex sales are still dominated by domestic sales.

Compared with the same period last year, the main raw materials of biomass cellulose fell in filament pulp, caustic soda, carbon disulfide, etc., and energy prices decreased year-on-year; benefiting from lower shipping costs and higher US dollar exchange rates, the gross margin of biomass cellulose filament increased by 5.53%, and gross profit increased by 152 million yuan. Compared with the same period last year, the average price of PTMEG, the main raw material of spandex, was drastically reduced, and the unit cost of the product was drastically reduced; the average price of spandex decreased compared to the same period last year. 2023 operated weakly for most of the year after a slight increase at the beginning of the year, with losses in some varieties. The gross profit loss of spandex during the reporting period was 11.7531 million yuan, but a decrease of 49.015,900 yuan over the same period last year.