恒力石化:恒力石化2024年年度报告(英文版)

Company Code:600346 Company
Name:Hengli Petrochemical
Hengli Petrochemical Co., Ltd.
2024Annual Report

2024 Annual Report 1
Letter to Shareholders, Partners and Employees
Dear shareholders, investors, and friends who care about and support Hengli
Petrochemical:
Spring surges with vitality, and the fragrance of locust trees fills the city. On this
radiant April day, we present to you Hengli Petrochemical’s 2024 milestones as a
testament to our relentless drive, extending our deepest gratitude and sharing a vision for
a brighter future.
Looking back, whether we are immersed in the grand narrative of long history or
focus on the minute details of individual destiny, it evokes a deep chill. Amidst the
undercurrents of the changing century, geopolitical rivalries get locked in stalemate. The
global economy grows ever more turbulent and unpredictable, further intensifying
uncertainties. For enterprises in particular, with upstream raw material prices remaining
persistently high and downstream market demand staying sluggish, Hengli Group has
forged ahead against the dual pressures of ongoing global trade war and frequent "black
swan" events—wielding "innovation" as its sword to break through barriers, and shielding
its growth with "unwavering commitment to craftsmanship", anchoring the direction amid
turbulent sea and emerging as a frontrunner in the fierce competition. In 2024, the
company achieved operating revenue of 236.2 billion yuan, net profit attributable to
shareholders of 7.044 billion yuan, and net cash flow from operating activities of 22.733
billion yuan.
Innovation breaks boundaries, redefining industry standards. "Innovation is the
lifeblood of enterprise vitality. It begins with liberating minds, shifting perspectives, and
breaking free from conventional thinking—proactively embracing transformation. " Hengli
has engraved "creating standards and setting standards" into its genes. In 2024, Hengli
and Dalian University of Technology have jointly established the "Hengli-DUT Research
Institute" to seize the technological commanding heights with the deep integration of
industry, academia and research; Hengli Petrochemical Chemical's high-density
polyethylene (HDPE) pipe-grade material 23050 has earned PE100 certification, filling the
gap in the domestic high-end pipe market; Hengli Chemical Fiber has achieved mass
2024 Annual Report 2
production of ultra-fine fiber 27D/144f, with a filament of 9,000 meters weighing just
0.18g and a filament of a single spool (7.14kg) stretching from Earth to Moon. Hengli
delivers kilometer-scale value through millimeter-scale precision. Each breakthrough
embodies its steadfast commitment to "Refinement, Meticulousness, and Perfection".
Intelligent & green synergy forges sustainable competitiveness. Intelligence and
greening are the wings of a company's longevity. Kanghui New Materials has been
recognized as the "National Green Factory" and "Liaoning Province Manufacturing
Champion Enterprise" for its outstanding performance in sustainable and intelligent
development; Jiangsu Kanghui won the title of "Jiangsu Province Intelligent Manufacturing
Workshop" with its BOPET intelligent workshop, while Hengke Advanced Materials'
"Intelligent Spinning Craftsman" was designated as a provincial labor benchmark, turning
intelligent manufacturing from an abstract concept into tangible productivity. Hengli
Chemical Fiber has been honored as Yangtze River Delta Green Development Leader. We
optimize every drop of water and every kilowatt-hour to engineer sustainable solutions,
which brings our 'Green-to-Core' commitment to life.
With a global vision, we are shaping a new industrial benchmark for China. At
Hengli, we recognize that only via boundary-breaking thinking and transformative
approaches can we secure enduring leadership. We have broken the "bottleneck"
problem through localized production of HDPE piping materials, regained dominance in
global textile markets through mass production of ultra-fine fiber, and set a
transformation model for the industry with intelligent and green manufacturing practices.
These accomplishments stand as Hengli's firm response to national strategic imperatives
and a solemn accountability to the trust of shareholders.
Our founding mission stands unshakable as bedrock, as we embark on a resolute
journey through all trials. During corporate development, weathering storms is the
enduring norm, navigating tempests defines our relentless posture, and defying squalls
embodies our unwavering mindset. Reflecting on Hengli Petrochemical's growth trajectory,
we have been tempered through trials, fortified through adversities, innovated through
expansion, and ultimately risen as an industry leader through sustained breakthroughs.
We remain anchored