China Petrochemical Development Corporation Investor Conference
Date: 2025/09/12
Company Overview and Business Scope
Company Name
China Petrochemical Development Corporation (CPDC)
Core Values / Slogan
Respect · Innovation · Care · Excellence · Green Business
Transformation Strategy
- Transforming the petrochemical industry
- Expanding land development business
Main Products
- CPL (Caprolactam)
- PA6 (Nylon 6)
- AN (Acrylonitrile)
- OPP (Orthophthalic Anhydride)
Business Scope
- Petrochemical Industry: Production and sales of major products.
- Specialty Chemicals: Focus on new energy and communications including safety additives for lithium batteries and high-frequency communication materials.
- Land Development: Activating owned land assets for development and sale.
- Semiconductor Materials: Enhancing R&D and manufacturing, introducing critical technologies to promote semiconductor-grade electronic chemicals.
- 5G Communications - Development of Low Dielectric Resin: Developing millimeter-wave copper-clad laminate materials.
Financial Highlights
Key Metrics (NTD Billion)
2025H1 Financial Ratios (Comparison with 2024H1):
- Debt Ratio: 46% → 43%
- Current Ratio: 234% → 214%
- Net Profit Margin: 2.79% → -17.05%
- ROA: 0.40% → -1.19%
- ROE: 0.44% → -2.53%
- Note: Certain non-operating metrics excluded.
Recent Financial Results (2022-2025H1):
| Item | 2022 | 2023 | 2024 | 2024H1 | 2025H1 | Change (YOY) | % Change |
|---|---|---|---|---|---|---|---|
| Operating Revenue | 250 | 254 | 294 | 162 | 114 | -48 | -30% |
| Operating Gross Margin | -12 | -11 | 2 | 8 | -6 | -14 | -172% |
| Operating Net Profit | -39 | -29 | -19 | -1.6 | -15 | -13.4 | -864% |
| Non-operating Income | 46 | 25 | 26 | 7 | -2 | -9 | -135% |
| Pre-tax Profit | 7 | -4 | 7 | 6 | -17 | -23 | -415% |
| Net Profit (Post-tax) | 2 | -11 | 2 | 4 | -19 | -23 | -535% |
| EPS | 0.06 | -0.28 | 0.07 | 0.12 | -0.51 | -0.63 | -525% |
YOY Revenue Change (2024H1 vs. 2025H1):
| Product/Item | 2024H1 | 2025H1 | % Change |
|---|---|---|---|
| CPL | 31 | 20 | -34% |
| PA6 | 20 | 12 | -41% |
| AN | 46 | 47 | +2% |
| OPP | 1.1 | 1 | -10% |
| Weiming | 55 | 28 | -49% |
| Subsidiaries | 9 | 7 | -35% |
| Total | 162 | 114 | -30% |
Recent Quarterly Performance (NTD Billion):
| Quarter | Operating Revenue | Operating Net Profit | Net Profit |
|---|---|---|---|
| 2024Q1 | 81.9 | - | - |
| 2024Q2 | 84.9 | -0.05 | - |
| 2024Q3 | 73.3 | - | - |
| 2024Q4 | 54.3 | - | 15 |
| 2025Q1 | 65.0 | - | - |
| 2025Q2 | 49.0 | - | -15 |
Business Performance and Production Data
2025H1 Operational Summary
- CPL and PA6 demand slowdown caused decreased utilization.
- Tariff equivalencies and exchange rate fluctuations resulted in expanded losses (in core and non-core operations).
- Downstream sectors adopted optimized supply strategies.
Production & Sales (Unit: 10,000 tons)
AN:
- 2023: Production 17, Sales (incl. trade) 19
- 2024: Production 19, Sales (incl. trade) 20
- 2025H1: Production 11, Sales (incl. trade) 11
- Outlook: Downstream demand stable; supply unchanged.
CPL & PA6:
- 2023: CPL 15 (production), 24 (sales)
- 2024: CPL 16 (production), 25 (sales)
- 2025H1: CPL 7 (production), 10 (sales)
- Outlook: Increased domestic and brand market focus to counteract oversupply and tariffs.
2025H1 Revenue Share (%):
- AN: 41%
- Weiming: 24%
- CPL: 17%
- PA6: 11%
- Subsidiaries: 6%
- OPP: 1%
Industry and Market Outlook
Market Trends (2025 YTD):
- CPL: Overcapacity in China persists; price drops to historic lows.
- AN: Balanced supply amidst weak demand. New capacity in China risks oversupply.
- Raw Materials:
- Propylene, liquid ammonia, benzene, and phenol prices expected to remain weak.
Strategic Initiatives
Maintenance Schedule (2025):
- Douliu Plant (PA6): Scheduled for Sep-Oct.
- Xiaogang Plant (CPL): Brief suspension Jul-Aug; full maintenance in Dec.
- Dashu Plant (AN): AN(1) & AN(2) shut down Oct-Nov.
Major Project Updates:
- Kaohsiung Intercontinental Terminal: Third phase to be completed in Q4 2025.
- Land Development: High-value asset sales underway and future business planning.
- Weiming Base Projects: Phase 2 under review potentially awaiting favorable demand.
Sustainability Initiatives (ESG):
- Environment:
- ISCC Plus certifications, multiple ISO standards validated.
- Social:
- Recognized by Ministry of Health for workplace initiatives.
- Governance:
- DJSI inclusion; CDP participation.
Contact Information
- Website: cpdc.com.tw
- Phone: 02-8787-8187 ext. 8370
- Email: investors@cpdc.com.tw