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Recently, China Association for Public Companies released the list of cash dividends for A-share listed companies, including 200 companies each on the “List of Listed companies with generous returns” and “List of listed companies with sincere returns”.  600346.SH ranked 37th on the first list and was the top privately owned listed company in the petrochemical sector.

The first list uses the cash dividends in the past one and three years as the main index, while the second list refers to the dividend payout ratio in the past one and three years as the main index. The lists adhere to the basic principles of representativeness and sustainability, encouraging long-term stable dividends, and ensuring that the different sectors of the company are covered. This fully reflects the willingness of the company to give out dividends. The top listed companies on the lists are mostly industry leaders such as banks, insurance, energy, liquor, chemical companies and large state-owned companies. 

Hengli Petrochemical, being a leading A-share privately owned company, had announced its 2021 annual dividend implementation plan on 26 May, where it has proposed to issue cash dividends of RMB 10.1 (including tax) for every 10 shares to every shareholder, amounting to RMB 7.021 billion in cash dividends making up 45.2% of the company’s annual net profits, setting a record high in the distribution of cash dividends. According to publicly available statistics, between 2019 to 2021, the total cash dividends issued by Hengli Petrochemicals totalled RMB 15.233 billion.

In 2021, Hengli Petrochemical achieved operating revenue of RMB 19.97b, up 29.92% year-on-year, and net profit attributable to shareholders of listed company of RMB 15.531 billion, up 15.37% year-on-year. The company’s revenue and profit broke records, which highlighted the company’s capability to generate sustained profit despite fluctuations in the upstream raw materials market.  The upstream refining and ethylene businesses have become the profit foundation stone of the company, while the downstream petrochemicals and new materials segment have been expanding in recent years. They include differentiated polyester yarn, functional films, new engineering plastics and new biodegradable materials with high research and development attributes.

Hengli Petrochemical adheres to the Hengli’s innovation R&D gene” and is targeting strategic growth opportunities interspersing China’s new energy, new consumption, and hard technology by deep diving into the chemical new materials industrial chain sector in the downstream. The company is rapidly developing into a world class platform based chemical new materials R&D and manufacturing enterprise.