In a recent press conference, TSRC discussed the hurdles facing the chemical industry in 2023, citing ongoing challenges like pricing issues and sales restrictions. The overall value chain inventory de-escalation is underway, though full market recovery is expected to be gradual.
TSRC highlighted the impact of weakened economic consumption, inventory reduction, and heightened industry competition, leading to sluggish demand and reduced product spreads. While the advanced materials business faces operational challenges, the synthetic rubber segment maintains relative stability.
For the first three quarters, TSRC reported a consolidated operating net profit of 572 million yuan, an after-tax net profit of 455 million yuan, and earnings per share of 0.55 yuan. Despite the current hurdles, TSRC eyes the growth potential in some Southeast Asian countries in 2024.
TSRC’s strategic plans include optimizing production, enhancing product performance, and stringent cost controls. Initiatives like expanding sales of SSBR for electric tires and completing relocation projects aim to reinforce the company’s industrial footprint and competitiveness amid challenging market conditions.
