Hualu Hengsheng's net profit attributable to parent in 2025 is expected to decrease by 15% to 3.32 billion yuan

On March 30, Hailu Hengsheng (600426) released its 2025 annual report. The company’s operating revenue was RMB 30.97 billion, down 9.5% year over year; the net profit attributable to shareholders was RMB 3.32 billion, down 15% year over year; the net profit attributable to shareholders after deducting non-recurring items was RMB 3.29 billion, down 15.0% year over year; net operating cash flow was RMB 4.198 billion, down 15.5% year over year; and EPS (fully diluted) was RMB 1.5615.

Among them, in the fourth quarter, the company’s operating revenue was RMB 7.42 billion, down 18.0% year over year; the net profit attributable to shareholders was RMB 942 million, up 10.3% year over year; the net profit attributable to shareholders after deducting non-recurring items was RMB 933 million, up 15.0% year over year; and EPS was RMB 0.4435.

As of the end of the fourth quarter, the company’s total assets were RMB 49.177 billion, up 5.4% from the end of the prior year; equity attributable to shareholders was RMB 33.08 billion, up 6.6% from the end of the prior year.

In its 2025 annual report, the company mentioned that, in the face of challenges such as global economic growth slowing and weakness in the chemical market, it actively coordinated stock optimization and incremental upgrading, tapped internal potential, expanded into new markets, and promoted project commissioning to ensure that key operating indicators remained among the leaders in the industry. During the reporting period, the company strengthened production and sales coordination, maintained stable and efficient production, adapted to market changes, optimized its deployment structure, increased technological retrofits, implemented process optimization, and consolidated its low-cost advantage. At the same time, the company also actively promoted policy adjustments in fields such as fertilizers and new-energy new materials, seized market opportunities, and saw a clear increase in export business for fertilizer products.

In addition, the report mentioned that the company made significant progress in project construction, including the commissioning of the amide feedstock optimization and upgrade project, the dicarboxylic acid project, and others; the BDO and NMP integrated project’s units were successfully commissioned; and the gasification platform upgrade and renovation project has also started. While ensuring safe production and ecological protection, the company promoted green development, with no environmental pollution incidents occurring, and all pollutants met discharge standards.

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