恒力石化：恒力石化2023年年度报告（英文版）

股票代码：600346HENGLI PETROCHEMICAL2023 ANNUAL REPORT专注创新品质 创造美好生活Focus on innovative naturebuild a better life 2023 Annual Report 1 / 319 Letter to shareholders, partners and employees Dear shareholders, partners and employees: Time is like one circle after another of annual rings, regardless of thickness, they are markers of our growth process. Farewell to 2023, a year filled with both challenges and opportunities. Despite facing difficulties and setbacks, we worked together to overcome various obstacles and successfully navigated through them. The world is undergoing profound changes unseen in a century, with geopolitical competition becoming more intense, and history and human civilization standing at a crucial crossroads. Meanwhile, the global economy is still in the midst of recovery and reboot processes, while the external environment remains fraught with uncertainty and risk. However, all the obstacles are just stepping stones for the successful ones to move forward, and cannot deter the brave ones from forging ahead. As the old Chinese poem says, “Don't mind the sound of the wind whistling through the trees; why not walk leisurely while singing?” No matter what difficulties and challenges we face, even when barefoot or facing strong enemies or arduous situations, we can maintain courage and determination, and persevere and move forward relentlessly. Hengli has consistently adhered to its core business while embracing a patriotic spirit rooted in industrial service to the nation. They have navigated through multiple economic cycles, continually moving forward. Now, Hengli maintains this unwavering commitment, staying true to their original aspirations, and continues to advance towards deeper levels of industrial development. Mountains do not hinder our aspirations, and deep rivers do not prevent our actions. This year, we have made progress day by day, regardless of the difficulties and challenges we encountered. The PTA project with an annual output of 5 million tons at Hengli (Huizhou) Industrial Park has been fully commissioned; the first phase of Hengli New Material Science and Technology Park and Hengli Chemical Fiber's 400,000 tons per year intelligent industrial yarn production project are rapidly advancing and have been partially commissioned in stages. This year, we have worked diligently and innovated with brilliant achievements. Hengli Chemical Fiber has won the China Patent Excellence Award and the "Jiangsu Science and Technology Award". Hengli New Materials has won the "CMAI Silver Prize for Outstanding Patents". Kanghui New Material's self-developed "ultra-thin carbon tape base film" became the first in China and unique in the industry, while its "solar back-sheet base film" received international authoritative certification. This year, we have made significant achievements through our journey. Hengli Chemical Fiber was recognized as a nationally certified "Industrial Product Green Design Demonstration Enterprise". Hengli New Materials was awarded the title of a nationally recognized "Outstanding Scenario of Intelligent Manufacturing". Hengli Chemical was honored with the national accolade of being a "Green Factory". Kanghui New Materials was designated as an "Intelligent Factory in Liaoning Province". This year, we have written the responsibility of a big enterprise with the heart of 2023 Annual Report 2 / 319 "gratitude" and "responsibility". Hengli continues to be passionate about poverty alleviation, education support, and disaster relief as well as other philanthropic projects. For those with determination, perseverance, and relentless effort, time will eventually reward them accordingly. In 2023, Hengli achieved revenue of 234.8 billion yuan, an increase of 5.61% year-on-year, net profit reached 6.9 billion yuan, an increase of 197.83% year-on-year. All business sectors of Hengli demonstrate strong vitality and resilience. The achievement demonstrates a strong business resilience and development tenacity of our company, the continuous efforts and hard work of the people at Hengyi during day and night, and the support from all shareholders and partners. Hengyi will continue to provide high dividends to investors based on reasonable management of the company's development, allowing everyone to share in the benefits of the company's growth. The past is rich in splendor, and the future is even more promising. A bright future awaits us to explore and cultivate. In pursuing our ideals, we must also focus on practical operations. All of us need to deeply consider how to better save costs, to create benefits, to change, to innovate, and to break through. Whether the road ahead of us is smooth or still fraught with difficulties, we will face it with the determination and courage to win, moving forward without