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At CN¥8.90, Is Rongsheng Petrochemical Co., Ltd. (SZSE:002493) Worth Looking At Closely?
By the end of 2023, rongsheng petro chemical (002493.SZ) will have an MMA production capacity of 0.19 million tons per year, ranking fifth in the country in terms of production scale.
On August 12th, Glonh Daily reported that rongsheng petro chemical (002493.SZ) stated on the investor interaction platform that the company uses the ACH process for MMA. By the end of 2023, the company will have an annual MMA production capacity of 0.19 million tons, ranking fifth in the country in terms of production scale. The price of MMA is adjusted dynamically according to market conditions.
Rongsheng Petrochemical (002493.SZ): Its products involve multiple areas including new materials, organic chemicals, synthetic fibers, synthetic resin, rubbers, and petroleum products.
Rongsheng Petro Chemical (002493.SZ) stated on the investor interaction platform on August 9th that the company is an international enterprise that develops the entire industry chain of petrochemicals, and its products involve multiple areas such as new materials, organic chemicals, synthetic fibers, synthetic resins, synthetic rubbers, and petroleum products. They have a wide range of applications and have basically achieved the goal of "from a drop of oil to everything in the world".
Saudi Aramco seeks to invest in more chemical plants in China.
Saudi Aramco is seeking to invest more in chemical factories in China this year and next, and the company has secured some deals in China to ensure long-term buyers of its crude oil product. Amin Nasser, CEO of Saudi Aramco, said the company is targeting additional facilities to convert oil into chemicals. Saudi Aramco believes that demand for commodities such as plastics will continue to exceed the growth in gasoline and diesel consumption during the energy transition. Nasser said on a earnings conference call Tuesday, "We are currently looking at some investments in China which will be announced at the appropriate time during this year and next."
Rongsheng Petro Chemical (002493.SZ) has repurchased a total of 5.4553% of its shares.
On August 1st, Gelonhui reported that Rongsheng Petro Chemical (002493.SZ) had cumulatively repurchased 552,380,458 shares of the company's stock, accounting for 5.4553% of the total share capital as of July 31, 2024, with a total transaction amount of 6,980,413,936.02 yuan (excluding trading fees). The third phase of the company's buyback repurchased a total of 268,435,006 shares of the company's stock through a dedicated securities account in a centralized bidding manner, accounting for 2.6511% of the total share capital, with a highest fill price of 12.70 yuan/stock and a lowest fill price of 9.38 yuan.
Rongsheng Petrochemical's (SZSE:002493) Earnings Have Declined Over Three Years, Contributing to Shareholders 52% Loss
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