OUCC 2019 Shareholders’ Meeting
The 2019 general shareholders meeting of the company (TWSE stock code: 1710) was held today, in which the 2018 business report and financial statement were addressed. With full capacity in production of both plants in Linyuan, Taiwan and Yangzhou, China due to the prosperous market demand of Q1-Q3/2018, the consolidated revenue in 2018 reached its record high at NTD32.1 billion, an increase of 11% comparing to the previous year; net operating income NTD3.3 billion, of operating income rate 10%, and the net income attributable to the company NTD1.75 billion, of EPS NTD2.01. The distribution proposal of cash dividend NTD1.75 per share was approved in the meeting.
In view of the Q1/2019 operation, the slash in the selling price of main product MEG, comparing to the same time last year, squeezed the profit thereof. The consolidated revenue in Q1/2019 totaled NTD6.6 billion, a decrease of 16% comparing to the same time last year, and the net income attributable to the company NTD0.19 billion, EPS NTD0.22. In 2019, however, with no scheduled shutdowns for the naphtha crackers in Northeastern Asia, the ethylene price is expected to be stable, and the sales volume is to increase with aid of a steady downstream demand. The company’s outlook this year is yet expected to still be bright.
The overall EG production loading this year shall remain high in Linyuan and Yangzhou, production volume is planned at 805 thousand MT, of 8% increase in growth, along with the persistent efforts in unit production cost down; also, the company keeps marketing ethanolamines (EA), ethylene glycol monobutyl ether (EB) to enlarge the market share, as well as promoting EA of electronic-grade, and developing the applications of ethylene carbonate (EC) to lithium batteries and other industries; moreover, to increase its liquefied gas marketing channels, and advance its sales in electronic-, food-, and medical-grade carbon dioxide, the company will enhance relentlessly its pipeline gas business in both Linyuan and Yangzhou Industrial Parks.
Further, with focus on green production, the company continues to elevate its energy efficiency and plans to install a cogeneration unit and the boiler emission improvement equipment to reduce CO2 emission 120,000 MT annually, and engaged also proactively in the development of various high value-added EO derivatives to be used in polyurethane products, optical coating, electronics process auxiliaries, textile auxiliaries, construction and architecture, medical therapy, cosmetics, to reduce the cyclic impacts of the industries. In addition, to meet the diverse demands of the customers, the company continues its polyol development so to offer the cutting-edge products, expediting its transformation into a specialty chemical company producing functional, closer to end-users, and customer-oriented products, in hopes of achieving the mission in corporate sustainability.#