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Si0431eb@60080·Jul 11

On July 12, Tongkun Co., Ltd. will hold its first extraordinary general meeting of shareholders this year to review the proposal on the refining and chemical project in Indonesia's North Canada.

According to the announcement, the total investment of the project is 8.624 billion US dollars, or about 62.3 billion yuan, to extend the industrial chain and ensure the supply of raw materials.

With total assets of more than 90 billion, Tongkun is a giant in the domestic polyester filament industry.

On June 21, the founder Chen Shiliang had just stepped down as the chairman of the listed company and handed it over to his daughter.

The business situation that Chen Lei is facing is quite severe. For the whole year of 2022, the net profit of this industry leader will drop sharply. From January to March this year, it will even lose 490 million yuan.

For this second generation, it is not easy to keep a job, and it is a big test when he just takes the position.

Post by @60080.lens
  • si
    Si0431eb@60080·Jul 11

    Affected by the price of crude oil, Tongkun's life is difficult. In the past two years, its business has taken a sharp turn for the worse.

    In 2021, it is still making great strides, with an annual net profit of 7.3 billion yuan, an increase of about 1.6 times.

    Since July last year, Tongkun has turned from profit to loss, earning only 130 million yuan for the year, a year-on-year decrease of 98.26%.

    Entering 2023, the situation is still not ideal. From January to March, the revenue was about 16 billion yuan, a year-on-year increase of 22.67%, and the net loss was 490 million yuan.

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