"Chemical Mao" Wanhua's chemical net profit dropped sharply, 306 funds were "planted", and shareholders cash out 7 billion yuan in advance

China Times (chinatimes.net.cn) reporter Song Jie Chen Feng Beijing reported Beijing

On the evening of July 28, "Chemical Mao" Wanhua Chemical (600309.SH) took the lead in released the 2022 interim report, and its net profit plummeted. The company's stock price that has fallen into the company has continued to explore since July. On July 29, Wanhua Chemical closed at 83.7 yuan/share, down 1.7%.

Looking at it for a long time, Wanhua Chemical has fallen by more than 40%since last year. In March of this year, the company's number of days fixedly increased the shares, and the company's second and seventh largest shareholders continued to reduce their holdings, with a cash of over 7 billion yuan. Wanhua Chemical has always been one of the most popular stocks of the fund. In the second quarter, the top ten heavy stocks of 306 funds have been entered. This time, in the face of the net profit of the two consecutive quarters, their operations are about to be crucial.

Increasing income and not gaining profit

The interim report shows that the company achieved operating income of 89.19 billion yuan in the first half of the year, an increase of 31.72%year -on -year. In a sharp contrast with revenue growth, the net profit of home was 10.383 billion yuan, a year -on -year decrease of 23.26%; the net profit after deduction was 10.222 billion yuan, a year -on -year decrease of 22.53%.

Regarding the increasing increasing income in the first half of the year, the company's explanation is that due to factors such as the conflict between Russia and Ukraine and the new crown epidemic, basic energy prices such as international crude oil, natural gas, and coal have maintained a high level. In the context of the sharp rise in upstream raw materials, the company's main chemical raw materials and European BC energy costs increased significantly year -on -year, and the gross profit margin of the main products decreased year -on -year.

In the quarter, the company achieved a net profit of 5.09 billion yuan in a single quarter in the second quarter, and the first quarter was 5.374 billion yuan, which means that in the second quarter, the month -on -month decrease was about 7%. Profit has a year -on -year decrease of 28%.

I am afraid that the gross profit margin will continue. On July 29, Wanhua Chemical announced the adjustment of the main product prices at the same time. Beginning in August, the company's aggregate MDI listing price was 18,500 yuan/ton (the price was reduced by 1300 yuan/ton in July); the pure MDI listed price was 22,300 yuan/ton (the price was reduced by 1500 yuan/ton in July).

Although the performance is not satisfactory, many brokerage companies have given a "buy" rating, of which China Merchants Securities gives "strong recommendation". Its research report pointed out that the company's profits were narrowed in the first quarter of the first quarter due to the decline in MDI products, and at the same time, high -price raw materials needed time to digest. And Wan Huazheng actively invests in fine chemical sectors with higher barriers to layout. In the future, this will be the fastest business of the company's growth rate and will also become the third life curve for its development.

Shareholders cash out 7 billion

Wanhua Chemical's frustration this year is not only in the decline in net profit, but also has a large rise in stock prices. It has fallen by more than 13%during the year. Since last year, it has fallen 42%.

Perhaps Chunjiang Water Warm Duck Prophet. On March 23 this year, Wanhua Chemicals had a total of 1.716 billion shares of a fixed -rate limit on sale, accounting for 54.65%of the total share capital, and the market value of the ban on the ban was 139.201 billion yuan at that time.

This is a shares issued by Wanhua Chemical Absorption and Mergenal Yantai Wanhua Chemical Co., Ltd. three years ago. The lifting of five shareholders includes five, namely Yantai Guofeng Investment, PrimePartnerInlationAllimited (hereinafter referred to as "Synthetic International"), Yantai Zhongcheng Investment, Ningbo Zhongkaixin, and Beijing Dejejitong, respectively. Three, four, and seven major shareholders.

It is worth noting that the semi -annual report showed that the forefoot had just lifted the ban, and the shareholders of the rear foot opened. Synthetic international reduction of 63 million shares was reduced to the fourth largest shareholder; the seventh largest shareholder Beijing Dejejehui Tong Technology Co., Ltd. reduced its holdings of 19.99 million shares. The current amount of the two shareholders exceeds 7 billion yuan.

Although the interim report was announced, Wanhua Chemical closed at 83.7 yuan on July 29, only 1.7%, but since July, the company's stock price has fallen by 14%from 97 yuan for a few months.

Senior investor Du Kunwei told the reporter of "Huaxia Times" that from the recent trend of stock price, the market has expected the decline in Wanhua's chemistry performance, but it may have little impact on the stock price in the short term. However, if the price of upstream raw materials remains high, the mid -term trend will have a greater impact. MDI has fallen price, indicating that the pricing power of Wanhua Chemistry is a bit difficult. The stock price can be fired, but eventually needs to return to performance support.

Fund plus 40 million shares

Prior to the disclosure of the interim report, Wanhua Chemical entered the top ten heavy warehouses of the 306 funds in the second quarter, and was held for a total of 170 million shares, accounting for 5.43%of the total share capital. Wind data shows that Wanhua Chemical ranks 33rd in the fund positioning and is one of the most popular stocks for public funds. In the second quarter, the data in the second quarter held a total of 131 million shares of the 194 funds in the first quarter, accounting for 4.18%of the total share capital, and it increased significantly.

In the second quarter, Wanhua's chemical stock price rose more than 20%, which played a role in the increase in net value of the above 306 funds. But in the face of the net profit of the two consecutive quarters, the fund's next operation is important. A fund holding a fund reporter said that the investment direction involving the fund involved in the fund will be disclosed in the third quarterly report.

Among the 306 funds, the number of 44 funds holds more than 1 million shares. The most positions are Ruiyuan's two funds, namely Fu Pengbo and Zhu Xi's Ruiyuan growth value and the balanced value of Ruiyuan managed by Zhao Feng. Hold 14 million shares and 9.7 million shares, respectively. The market value of the two funds at the end of June was 1.4 billion yuan and 900 million yuan, respectively. They both held Wanhua Chemistry from the establishment of the position and increased their positions many times during the period. They were the "fans" of the company. However, the performance returns of the two funds this year were not high. As of July 28, the former lost 20.99%and the latter lost 14.70%. Zhao Feng said in the second quarterly report that each industry's dilemma is the opportunity to enhance competitiveness and market share in leading enterprises. Enterprises that are not well managed in the industry will be eliminated. Leading enterprises will further improve their products, and they will further improve their products. The advantages of service, cost and other aspects, thus laying the foundation for the growth after demand recovery.

The most increasing holdings were the high -quality selection of Yifangda managed by Xiao Nan, buying 5.3937 million shares in one fell swoop, becoming the ninth largest heavy warehouse. The fund's yield this year is -11.82%, which is slightly better than the decline in the Shanghai and Shenzhen 300 Index. The new driving force of the rich country also increased 2.2 million shares at the end of the second quarter, an increase of 4.935 million shares, becoming the largest heavy stock shares, and the funding rate of the fund was -10.42%during the year.

Editor: Editor Yan Hui: Xia Shencha

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