Shanghai Daoqin Plastics Co., Ltd.

11 month 23 day, BASF investment 额达100 100 million USD new type 一体化 production (Verbund) project positive in 广东湛江启动, 并开始 construction plant/unit. this is project 自2018 year 7 month 宣布筹建以 一 large important 里程碑. project plant/unit will production engineering plastics and thermoplastic polyurethane (TPU) (TPU), from meet/satisfy 华南 区 and 整 亚洲 market more growth industry demand.

据 understanding, BASF 湛江一体化基 位于广东省湛江市 东海岛 upper. project 规划面积约9平方公里, investment expected 达100 100 million USD, 整 基 to 2030 year construction formed. project plant/unit will production engineering plastics and thermoplastic polyurethane (TPU) (TPU), is automotive, electronics product and new can automotive and other field/area provide material.

BASF 于2018 year 7 month in Germany and 广东省政府签署 第一份一体化基 谅 understanding memorandum, 并于2019 year 1 month frame agreement made 定规划 fine 节. 广东一体化基 will is BASF is most large outer investment project. expected investment high 达100 100 million USD, will BASF construction 运营.

from chemical product to product upstream and downstream production plant/unit will formed combined value 链, is product and and other growth type industry provide 支持. 广东一体化基 will formed is BASF in full 球 第三 large 一体化 production 基, 仅次于 Germany 路德维希港 and ratio 利时安特卫普基, core is design year production capacity is 100 10,000 tons ethylene 蒸汽裂 understanding plant/unit, sleeve/set plant/unit will 于2022 year 投入运营, 整 一体化基 expected will 于2030 year formed.

BASF 亚太区(职 can tube/pipe 理) president/CEO, large in president/CEO 兼董事 long Di 文博士(Dr.StephanKothrade) table/sheet 示: “湛江 is BASF 进一步 strong/high in 华本土 production can force selection. new type 一体化 production will formed is world grade industry 集群 基石, meanwhile is BASF in 华南 区 and market business development provide strong/high has force 支持. ”

to 2022 year, new engineering plastics modified plant/unit year will is BASF in China 贡献6 10,000 tons modified engineering plastics product, will BASF in 亚太区 modified engineering plastics product output/production volume improves 至29 10,000 tons. BASF will more good meet/satisfy 客户不断 growth demand, especially is in automotive, electronics product and new can automotive and other industry field/area.

BASF plan in 该一体化基 using/adopting technology, comprehensive 落实智慧 production 理念. new also will using/adopting 自动化 packaging, high control system and 自动导引车辆 and other technology.

BASF 一体化基 也 will is 推动湛江当 社区 development as 贡献. company positive and technology and other mono formed strategy combined as 伙伴, 培养专业人才.

BASF full company BASF 一体化基 (广东) has company already positive formed 立. company main/primary negative new type 一体化基 运营工 as, BASF for China market 承诺.

资 material 显示, 东海岛 is 我国 第五 large 岛, 广东第一 large 岛, 总面积286平方公里, 沙滩总 long degree is 28公里, by Shanghai large world 基尼斯总部 certification is “ China long 滩”, wide 100-300米.

东海岛位于 in China semi 岛东部, history upper 雷州府遂溪县辖岛. 1958 year large 堤修建 rear 方便 岛民出入, 今 湛江市经济 development 区, inner main/primary has 东山, 东简, 民安3 街道办. high low, is 玄武岩台, is 海积平原. 东端距海滩2公里, has 海拔111米 high water 岭火山锥, 面积500×500米, is 火山碎屑岩 and a small amount of 玄武岩构 formed, is 天然航海陆标. 蔚鶨港 and 北山港 is inner most large 渔港. 蔚鶨附近6.5公里岸线, water deep 26～40米, its in 40米 deep water 航道650米. inner has development 土 40余万亩, 势平坦, high 4～14米, is hard formed 岩基. lower water day amount can 达50万立方米. 盛产鱼, salt, has 庵里, salt 场, water 养殖 以鲍鱼 and for 虾著称. 海滩绵 long 且洁白.

BASF Europe company board of directors thin 睦乐博士(Dr. MartinBrudermüller) table/sheet 示: “我 very high BASF in China this heavy large investment project 取 进展. 我们致 force is in 华南 客户 provide 支持, is belt/tape innovation type product and solutions. ”

thin 睦乐补充道: “ through using/adopting technology 并遵循 most high safety standards, new 一体化基 will formed is sustainable production 典范, force China circular economy development. ”

thin 睦乐进一步 table/sheet 示, in 华南 区 湛江启动 BASF (广东)一体化基 project, is BASF 154 year most large mono investment. it tool has long 远 意义, is long 旅程 开始. this investment separation stage/phase 进行, currently investment is 100 100 million USD. 2030 year BASF (广东)一体化基 project overall construction formed rear, BASF will according to market demand, 进一步 expand large investment.

in thin 睦乐看, selection and 湛江 理由, is good China future investment and market outlook/prospects. 首先, is China industrial production manufacturing 腹, year need from outer 运入2000 10,000 tons chemical product. from 华南 区 诸 more understanding to, development very more chemical industry product need from outer 运入. BASF (广东)一体化基 project construction start rear, will meet/satisfy for innovation and Raw Materials demand, for 广东起 to function, is as more more 贡献. its 次, 湛江 理位置 excellent 越. it 紧贴海岸线, has deep water 港, has from outer Imported raw materials and 输出东盟各国. meanwhile combined for/regarding chemical industry enterprise requirements, 方政府也 provide excellent conditions. therefore 落户湛江, main/primary is this 两方面 考虑.

记者获悉, BASF front already has 六 一体化基: in Europe (Germany 路德维希港, ratio 利时安特卫普), in 北美(USA 德克萨斯自由港, USA easy that cover/cap 斯马), in 亚洲(China 南京, Malaysia 关丹). BASF in China 南京 一体化基 建于2000 year, and China combined 资经营(50:50). its in Malaysia 关丹 一体化基 则建于1997 year, and Malaysia company (Petronas) combined 资经营(60:40).

财通证券 analysis small front is, new 一体化基 and expand 建 南京一体化基 will to BASF China belt/tape can growth. 2000-2018 year, BASF in China production 基 面积 is 7平方公里, 资本开支 is 110 100 million USD;湛江 new 一体化基 面积 is 9平方公里, 资本开支 is 100 100 million USD; as is comparison, large 基 - Germany 路德维希港 基 面积 is 10平方公里, ratio 利时安特卫普面积 is 6平方公里. can 见, new 基 规模之 large, formed rear for BASF increase amount can 观.

公开资 material 显示, BASF formed 立于1865 year, is world chemical industry company, 总部位于 Germany 莱茵河畔 路德维希港, it is world upper factory most large chemical product 基. BASF toward provide series high property can product, covering chemical product, plastics, features product, as material product and and gas. 一体化(Verbund)基 is company advantages in, production plant/unit and technology 平台智 can 互联, from can high use and 发挥专 long. in full R&D 部门拥 has 约10,000名员工, is BASF innovation can force and competition force rear 盾.

2018 year 11 month 20 day, BASF in Germany 路德维希港 published full new enterprise strategy, its need target/goal is achieve sales and amount growth, 于2019 year 开始实施.

new strategy for full strategy type new 形势, made improves enterprise core competition force strategy target/goal, company 提出 六 large strategy target/goal separation is: 1) achieve high full chemical industry production water sales and amount increase speed;2)不计特殊 project EBITDA每 year improve/increase 3%-5%;3)每 year achieve high 于资本 cost ratio rate already use 资本回报 rate;4)每 year growth separation 红;5) achieve strategy product sales 收入220 100 million 欧元;6) to 2030 year carbon 排放零 growth.

虞 small introduction, 2017-2030 year, full chemical industry growth main/primary 自亚太区: China ratio 64%, other ratio 13%, 北美占 ratio 10%, other ratio 14%. another, electrical fast speed development belt/tape battery positive material demand amount, expected 2017-2025 year, positive material demand amount growth ultra- 300%. growth, for innovation property solutions and 数字化 demand is BASF main/primary growth force.

in small 波看, BASF new strategy core main/primary in 两 方面:

看点一, BASF adjustment business structure 并启动卓越 project, 以追求 more high 效益运营, formed is more transparent, active and 贴近客户 company. business structure adjustment, 由5 转变 formed 6, market more 清晰, focus/key point in innovation type growth property business and 直接面 toward industry, non chemical product 本身. new large business field/area is chemical product, material, industrial solutions, surface treatment technology, and and solutions. another, BASF positive 启动一项 new project 2019-2021, target/goal from 2021 year 底开始, year 贡献20 100 million 欧元BITDA. project will production, material 流, R&D, 数字化, 自动化 and development and other field/area measures.

看点二: and China chemical industry market growth, expand 张一体化基 版图, cost and technology advantages. China already formed is full most large chemical industry market, full market 总额40%, will 继续推动 full chemical industry production growth; to 2030 year, 占份额 will expand large 至近50%. BASF need and its growth, therefore in 广东湛江 newly built in 华第二 一体化基, expand has 南京一体化基. 一体化 system in due to production high degree in, BASF year can ultra- 10 100 million cost. another, 湛江基 will from upper use circular economy 理念, sustainable production methods, using/adopting technology, comprehensive 落实智 can manufacturing 理念, is 华南 区客户 provide 支持.

虞 small table/sheet 示, in 2019 year new strategy published front, BASF group has large business field/area, lower 辖13 business 部, in ultra- 80 国家设 has company, full has 6 一体化(Verbund)基, 347 other production 基. large business field/area separation is chemical product, features product, function material and solutions, solutions, and and gas. as is China chemical industry field/area important outer investment enterprise, BASF main/primary investment project 位于南京, Shanghai and heavy 庆, production 基 遍布 full 国, its in BASF innovation 园(Shanghai) more is full and 亚太 区 R&D 枢纽. 截至2017 year 底, BASF in large in 华区共 has production 基 25 (不包括扬子石化-- BASF has responsibility company).

而五 large business in: function material and solutions revenue ratio most high (32%), its is chemical product (25%) and features product (25%)). business formed separation is: chemical product business 由石油 chemical industry, mono and in 间体部门组 formed, business field/area revenue ratio is 25%; its product series solvent agent, increase agent and a large amount of mono 体, water and electronics chemical product, and agent, plastics, textile fiber, paint and coating material, as material and product Raw Materials. features product business dispersion and material, chemical product, and and features chemical product, business field/area revenue ratio is 25%. function material and solutions business catalytic agent, chemical building materials, coating material and features material, business field/area revenue ratio most high is 32%. solutions business provide in as material 保护, types 子处理 and water tube/pipe 理方面以 and supply and material pressure solutions. and gas business from 事勘探, production and 运输.

财报显示, BASF group 2019 year Q3 degree sales is 152 100 million 欧元, ratio year has decline. 不计特殊 project front is 11 100 million 欧元, ratio year decline 24%, this main/primary due to material and chemical product large business field/area price fall.

2019 year 7 month 25 day, BASF 公布2019 year degree report. and year versus ratio, BASF sales decline 4%, is 152 100 million 欧元;不计特殊 project 息税, and front decline 27%, is 20 100 million 欧元. BASF already adjustment full year 业绩展望, its expected year sales will has decline, meanwhile 不计特殊 project front drop 幅达30%.

BASF front 曾宣布, will in full decrease/reduce 约6000 工 as 岗位, plan in 2021 year formed. year upper semi year, in 位于路德维希港 BASF Europe company, ultra- 1100名员工 already 接受并签署 离职 agreement.

2018 year, BASF achieve 营业收入626.75 100 million 欧元, year-on-year growth 2.4%;EBIT63.53 100 million 欧元, year-on-year decline 16.9%;净 profit 47.07 100 million 欧元, year-on-year decline 22.6%;2018 year Q4营业收入155.86 100 million 欧元, year-on-year growth 2.3%;EBIT6.30 100 million 欧元, year-on-year decline 58.7%;净 profit 3.48 100 million 欧元, year-on-year decline 77.4%.

按 year degree 看, 2017 year achieve revenue 644.75 100 million 欧元, year-on-year upper rise 12.03%; achieve profit 60.78 100 million 欧元, year-on-year upper rise 49.85%;毛 profit upper rise.

BASF front published 2019-2023 year 213 100 million 欧元资本开支 plan, currently already plan or positive in main/primary project 包括:

(1) ratio 利时安特卫普: ring oxygen 乙烷一体化 plant/unit;

(2) USA easy that cover/cap 思马: MDI production capacity expand 张;

(3) Germany 路德维希 industrial 园: plant/unit replace, newly built 维生素A and 布洛芬 production capacity;

(4) Malaysia 关丹: acrylic and acrylic ester production capacity expand 张;

(5)印 degree 蒙德拉: and 阿达尼 combined as investment acrylic industry chain;

(6) China 广东湛江: investment newly built 一体化 industry 园.