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China Petrochemical Development Corporation 中國石油化學工業開發股份有限公司
Respect．Innovation．Care．Excellence．Green Business
2
Disclaimer
• This presentation is for informational purposes only, contains preliminary financial and other information about China Petrochemical Development Corporation and is subject to updating, revision, amendment and completion. This presentation does not and is not intended to constitute or contain any offer of securities for sale or a solicitation of an offer to purchase any securities of China Petrochemical Development Corporation or any other company and neither this presentation nor anything contained herein shall form the basis of any contract or commitment.
• Certain statements contained in this presentation may be statements of future expectations and other forward-looking statements or trend information that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those in the forward-looking statements in this presentation. In addition to statements which are forward-looking by reason of context, including without limitation, statements referring to risk limitations, operational profitability, financial strength, performance targets, profitable growth opportunities, and risk adequate pricing, the words “may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, or continue”, “potential, future, or further”, and similar expressions are intended to identify forward-looking statements. China Petrochemical Development Corporation assumes no obligation to update or revise any such statements or any other information contained herein to reflect events or circumstances that may arise after the date of this presentation.
3
1 Company
Profile
Operations
and
Products
2 3 4 Future
Developments
and
Challenges
Financial Summary
2018 中國石油化學工業開發 股份有限公司
China Petrochemical Development
Corporation
Company Profile Respect．Innovation．Care．Excellence．Green Business
Effective integration of the Petrochemical Industry Expand new business in Land Development
5
Core Values
Innovation Respect
Care Excellence
Green Business
CPDC strongly believes in a market-oriented approach and the search for excellence as a basic principle. Continued improvements in quality and innovation to bring customer satisfaction in products and services, moving towards to “Zero deficiency, zero accident safety record, zero pollution” in sustainability management and community service.
6
Petrochemical Core Business :
To realize a green petrochemical industry To become a leading supplier of CPL, AN, and other high value materials.
Land Development :
Respect for the natural ecology, combine architecture, arts, humanities, and charity to create a co-existing living environment with the land.
7
Market Focused Providing products and services Creating customer value
Innovation Develop new technology, new products, integrate resources, smart production, and develop a global viewpoint, towards the development of the dual focus strategy
Develop Talents Develop talents, take responsibility, team work, and work hard towards the vision and achieve our goals.
Excellence With forward looking thinking, continue to improve, and develop a smart management system.
8
Only
Top 2
Top 5
Top 10
CPL manufacturer in Taiwan
AN manufacturer in Taiwan Taiwan
Global CPL manufacturer in the world
AN manufacturer in the world
9
Petrochemical
Hsiaokang
CPDC HQ
Dashe
AN Production 224k tons/yr
Jiangsu Rudong
Weiming Petrochem
WeiQiang Trading
Shanghai
Jiangsu Kunshan
China HQ
Jiangsu Rudong
Weihua Trading
CPL Production 200k tons/yr
Toufen
CPL Production 200k tons/yr Nylon Chips Production 36k tons / yr
Taipei HQ
CPDC
10
11
1969 1991 1994 2001 2011 2012 2015 2016 2017 2018 2019
Esta
blish
ed
as a
Sta
te-O
wn
ed
-En
terp
rise
Listed
on
the
Taiw
an
Sto
ck E
xc
ha
ng
e
Priv
atize
d C
PD
C (C
ore
Pa
cific
Gro
up
assu
me
s co
ntro
l) Im
ple
me
nte
d C
PL p
lan
t at
Hsia
o-K
an
g p
lan
t Exp
an
de
d A
N c
ap
ac
ity a
t Da
-Sh
e p
lan
t Im
ple
me
nte
d 2
nd
CP
L pla
nt a
t Tou
-Fe
n p
lan
t Jia
ng
su R
ud
on
g W
eim
ing
Pe
troc
he
mic
al P
A6 p
lan
t on
strea
m
Jia
ng
su R
ud
on
g W
eim
ing
Pe
troc
he
mic
al
cyc
loh
exa
no
ne
on
strea
m
Tou-F
en p
lant la
unched h
igh q
uality
pro
duct
o-p
henylp
hen
ol (O
PP
)
Imp
lem
en
ted
ph
en
olo
ne
pla
nt a
t To
u-F
en
pla
nt
Exp
an
de
d C
PL c
ap
ac
ity a
t Hsia
o-K
an
g p
lan
t Exp
an
de
d C
PL c
ap
ac
ity a
t Tou
-Fe
n p
lan
t Im
ple
me
nte
d p
he
no
lon
e p
lan
t at
Hsia
o-K
an
g p
lan
t
12
｜ Organization｜
10
Shareholders’ Meeting
Board of Directors
Audit Committee
Remuneration Committee
CPDC CSR Committee
Chairman
CEO
President President’s Office
Chairman’s Office
Secretariat
Audit Office
Shareholder Services Office
Operational Management
Group
Project Control Group
Strategic Planning
Vertical Integration Investment Group
China Investment Division
Land Development
Department
Business Trading Division
Production Division
Finance Division
Management Division
We
ich
u N
ew
Ma
teria
l
We
ida
Co
rpo
ratio
n
We
ida
Pe
troc
he
mic
al
We
iqia
ng
Trad
ing
We
iqia
ng
Inte
rna
tion
al
Trad
ing
We
ihu
a Tra
din
g
We
imin
g P
etro
ch
em
ica
l
Pro
jec
t Op
era
tion
O
ffice
De
ve
lop
me
nt P
lan
an
d
Ma
na
ge
me
nt O
ffice
Ra
w M
ate
rials
Pro
cu
rem
en
t
Sa
les O
ffice
En
gin
ee
ring
Tec
hn
olo
gy
Ce
nte
r To
u-F
en
Fa
cto
ry
Da
-Sh
e F
ac
tory
Hsia
o-K
an
g F
ac
tory
Inve
stme
nt M
an
ag
em
en
t
Offic
e
Ac
co
un
ting
Offic
e
Hu
ma
n R
eso
urc
es a
nd
Ad
min
istratio
n O
ffice
Info
rma
tion
Offic
e
Eq
uip
me
nt P
urc
ha
sing
De
pa
rtme
nt
R&
D C
en
ter
Leg
al C
ou
nse
l
En
viro
nm
en
tal P
rote
ctio
n
An
d P
ollu
tion
Pro
tec
tion
Ce
nte
r
Wo
rkp
lac
e S
afe
ty a
nd
He
alth
Ce
nte
r
Au
dio
/Visu
al R
ea
l-time
Co
nfirm
atio
n C
en
ter
13
CSR Committee Structure
14
CSR
Performance
2013
2014
2015
2016
CSR Committee Officially established
Held Charitable activities
(already served 70 groups up to 2018Q2/5700 person)
Award of The eleventh session A+ Evaluation of information disclosure
Award of Top 50 Corporate Sustainability Report in Taiwan
Silver Award of Traditional manufacturing of large enterprise
Award of The twelfth session A++ Evaluation of information disclosure
Award of Top 20% of the 1st annual Corporate Governance Evaluation of
listed company
Core Pacific group, recreational square completed
Award of Top 20% of the 2nd annual Corporate Governance Evaluation
of listed company
Won the Clean Production Certification (Hsiaokang Plant)
2017 Awarded of top 20% of the 3rd annual Corporate Governance Evaluation
Won Taiwan TOP50 Corporate Sustainability Report Traditional
Manufacturing Gold Award
Won BSI Sustainability Implementation Award
2018
Won the Clean Production Certification (Dashe & Toufen Plant)
Awarded of top 20% of the 4rd annual Corporate Governance Evaluation
Selected as a constituent in the Corporate Governance 100 Index
Toufen Nylon Plant won the ”Green Architecture Silver” Certification
Dasheh Plant Control Building won the ”Green Architecture Diamond
Award” Certification
2018 中國石油化學工業開發 股份有限公司
China Petrochemical Development
Corporation
Operations and Products Respect．Innovation．Care．Excellence．Green Business
Effective integration of the Petrochemical Industry Expand new business in Land Development
16
Film Engineering plastics Textile Fiber
Nylon Products
Caprolactam(CPL)
Fiber Nylon chips
Stockings, material for clothing
Umbrella, parachute, air bag
Curtains, carpets, Tire cord
Conveyor belt, rope
Fishnet, fishline
Nylon Chips
Stockings, material for
clothing
Umbrella, parachute,
air bag
Curtains, carpets
Auto parts, gear
Packaging film
High pressure resistant
tube
Food
packaging,
medical
packaging,
electronic
products
Downstream Applications
17
Acrylic Fiber ABS/AS Plastic NBR Rubber Acrylamide
AN Products
Material for clothing
Blanket, carpet
Wool, sweater, stuff toy
PC casing
Automobile (dash board, wheel cap, reflector box)
Home appliance casing
High intensity tool (hair dryer, mixer, mower)
Electric wire insulating material
Oil-resistant rubber components
for automobile and machinery (e.g. oil seal, coil)
Vesicant insulator
Water treatment agent
Soil absorption agent,
conditioning agent,
Flocculant Plastic additives,
leather metal coating
Acrylonitrile(AN)
Downstream Applications
18
Bactericidal Preservatives & Other
Bactericidal Preservatives,
New Medicine Intermediate,
Dye Carrier
High-end Optical Materials
High Refraction Material, New High Poly Monomer
Specialty Products
O - phenylphenol (OPP)
Electronic Materials
Flame Retardant Material
Downstream Applications
19
Engineering Plastic Products
Engineering Plastic
Mechanical Components
Electronic Components
Auto & Locomotive industries
Sporting goods
OA furniture
Downstream Applications
20
｜ 2017 Products Mix｜
Caprolactam(CPL). Nylon Chips (Nylon 6) Acrylonitrile (AN) and Byproducts
Other
8%
29% 63%
21
Unit：10k Tons
AN CPL
Nylon6
5 Year Production
19.6 20.4 19.4 19.8 20.7
10.6
29.9 25.1 25.7
30.7
38.0
19.3
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
2013 2014 2015 2016 2017 2018 H1
2016-2017 YOY
AN
CPL 23.57%
4.42%
22
138,678 129,513 128,377 141,193 150,385
261,708 243,973 232,210 290,873
360,198
0
100,000
200,000
300,000
400,000
500,000
600,000
2013 2014 2015 2016 2017
AN CPL / Nylon Chips
56,352 75,115 68,133 57,278 59,745
8,295 1,995 2,415 4,019 5,062
0
100,000
200,000
300,000
400,000
500,000
600,000
2013 2014 2015 2016 2017
AN CPL / Nylon Chips
Domestic 5 Year Sales Volumes
AN/CPL/Nylon6 Exports AN/CPL/Nylon6
Units: Tons
2016
AN
CPL
2017 2016
AN
CPL
2017
71.14%
98.64%
28.86%
1.36% 98.61% 1.39%
71.57% 28.44%
Units: Tons
2018 中國石油化學工業開發 股份有限公司
China Petrochemical Development
Corporation
Future Development Respect．Innovation．Care．Excellence．Green Business
Effective integration of the Petrochemical Industry Expand new business in Land Development
24
27
Challenges in recent years
and strategies
Challenges
Strategies
Tariff trade
barriers Excess capacity
in China area
Environmental
awareness
rising
US-China Trade
War
Resolution
Vertical
integration of
raw material
Close to
the market
Reducing
transportation
cost
Advantage
Chances in
China and
South-East Asia
Seizing
Place
importance on
environmental
protection
25
Petrochemical Core Business
CPDC develops Petrochemical Industry and
Land development as the main strategy
with the goals of sustainable development,
creating value for stockholder and
accomplished CSR
Dual Focus Development Strategy
Land Development
26
18
Sustainable development Effectively integrated
Petrochemical Industry Developing land
development business
Improving management system and recreating
business culture Improve management efficiency through
SDCA Standardization
Create active and responsible culture
Establishing integrated production base Integration of the upstream and downstream
Launch Smart Manufacturing project
Develop downstream high value products and
materials Expand applications of nylon products,
create high profit margin applications,
develop high end nylon materials
Planning multiple innovative residence design
and advocating green building
Developing green building complying the
regulation
Deploying real estate having investment potential
oversea Accelerating entering global market and land
development
Activating land asset and creating permanent
value Cooperating with promotion of Asia's New
Bay Area and migration of 205 arsenal
2018 中國石油化學工業開發 股份有限公司
China Petrochemical Development
Corporation
Financials Summary Respect．Innovation．Care．Excellence．Green Business
Effective integration of the Petrochemical Industry Expand new business in Land Development
28
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Operating Income
Net Income
2,990
2018Q3 2017Q2 2017Q3
Gross Revenue 10,968 7,484 7,888
2017Q4
8,947
2018Q1
9,495
2018Q2
9,448
623
1,151 1,104 1,217
194
690
1,106
804
912
1,650
1,304
Last 6Q Performance Unit：NT$ million
29
0
5
10
15
20
25
30
35
40
45
毛利率(%)
營業淨利率(%)
稅後淨利率(%)
8.73
2.59
39.96
2017
Q4
2018
Q3
2017
Q2
2017
Q3
14.03
8.74
7.89
18.17
12.36
12.86
2018
Q1
13.25
11.62
8.47
2018
Q2
14.68
9.66 12.88
16.39
11.88
15.04
Operating Margin
30
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
45.00%
50.00%
負債比率(%)
負債權益比(%)
2017 Q2
30.25%
43.37%
2017 Q3
2017 Q4
2018 Q1
27.06%
37.09%
23.37%
30.51%
23.10%
30.03%
22.95%
29.78%
2018 Q2
財務比率
23.32%
30.42%
2018 Q3
Financial Ratios
31
9.47
11.32 10.33
6.69
15.91 15.97
-4.71 -5.94
-10.68
-4.44 -3.06
-6.97
-15
-10
-5
0
5
10
15
20
2017Q2 2017Q3 2017Q4 2018Q1 2018Q2 2018Q3
Net Op. Cash Flow -Capex
Capex and Cash Flow Unit: NT$ 100 million
32
EPS
0
0.2
0.4
0.6
0.8
1
1.2
1.4
EPS(NT$) 1.28
2017 Q2
2017 Q3
2017 Q4
2018 Q1
0.43 0.41
0.27
0.45
2018 Q2
0.61
2018 Q3
33
中國石油化學工業開發股份有限公司 China Petrochemical Development Corporation
