Xinjiang's Chemical Sector Sees Strong Profit Recovery

Deep News
Sep 07

Data released by the Statistics Bureau of Xinjiang Uygur Autonomous Region shows that from January to July, industrial enterprises above designated size in Xinjiang achieved total profits of 130.84 billion yuan, a year-on-year increase of 58.1%.

Among these, chemical-related industries performed particularly well. The chemical raw materials and chemical products manufacturing sector saw profits surge by 66.1% year-on-year, while the petroleum, coal, and other fuel processing industry recorded a 62.8% profit increase. Overall, these enterprises generated operating revenue of 1.149 trillion yuan during the period, up 10% year-on-year, with an operating revenue margin of 11.4%.

Looking at the supply chain, upstream raw material sectors also showed robust results. Coal mining and washing saw profits jump by 80.4%, oil and natural gas extraction grew by 28%, and non-ferrous metal mining and beneficiation doubled its profit figures. This upstream strength reflects the broad-based nature of the recovery across the region's industrial landscape.

The improving financial health of Xinjiang's chemical industry is also evident at the enterprise level. According to public disclosures, Xinjiang Tianye Co., Ltd. posted total profits of 57.8 million yuan in the first half of the year, a 53.68% increase year-on-year, successfully turning around from a loss position. Meanwhile, Xinjiang Zhongtai Chemical Co., Ltd. achieved net profits attributable to the parent company of 74.85 million yuan in the same period, marking a substantial 138.55% growth.

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