Against the backdrop of fluctuating oil prices and a slower-than-expected recovery in certain downstream demands, Chinese chemical and material companies have demonstrated robust resilience.

Several leading enterprises have adopted strategies such as cost reduction, efficiency enhancement, structural adjustments, and innovative positioning, resulting in a differentiated yet positive operational landscape.

Hengli Petrochemical

In the first three quarters, Hengli Petrochemical achieved operating revenue of RMB 157.384 billion, reflecting a year-on-year (YOY) decline of 11.46%. However, the net profit in Q3 increased by over 80% YOY, demonstrating impressive performance.

Hengli Petrochemical attributed this success to effective cost control and product structure optimization, which have resulted in a steady increase in gross margin compared to the same period last year. The company flexibly implements its operational strategy of refining and producing various products based on market demands, creating significant synergies across its refining, petrochemical, chemical, and new materials sectors.

Additionally, the company continues to invest in downstream new materials, including differentiated fibers, functional films, engineering plastics, and biodegradable materials, while maintaining high standards in design and management for environmental protection.

The cost and scale advantages provided by Hengli Petrochemical's integrated industrial chain enable the company to sustain steady growth even amid uneven demand recovery.

Wanhua Chemical

Wanhua Chemical achieved operating revenue of RMB 144.2 billion in the first three quarters, a drop of 2.3% YOY. However, in Q3 alone, operating revenue reached RMB 53.3 billion and net profit was RMB 3.04 billion, both reflecting YOY growth and outperforming the first half of the year.

Despite a general drop in the prices of polyurethane and petrochemical products, Wanhua Chemical has maintained stable cash flow and a leading production and sales scale through optimized raw material procurement, product structure adjustments, and integrated operations in downstream sectors.

Overall, the company’s fluctuating performance is largely attributed to cyclical price pressures rather than operational imbalances. The diversification of products and the capability for refined management remain the core of its long-term competitive advantage.

Kingfa Sci.&Tech.

Kingfa reported significant growth in key metrics such as revenue, profit, and cash flow for Q3. In the first three quarters, the company achieved operating revenue of RMB 49.616 billion, representing a YOY increase of 22.62%.

The company achieved operating revenue of RMB 17.98 billion for Q3, an increase of 5.04% YOY. The total profit amounted to RMB 487 million, marking a remarkable YOY growth of 149.55%; the adjusted net profit was RMB 453 million, reflecting a YOY increase of 58.29%.

Kingfa attributed its growth primarily to the continuous optimization of its modified plastic product structure, with increased sales and gross margins in sectors such as automotive, electronics, and new energy. The company has also accelerated its globalization efforts, actively expanding into overseas markets.

In 2025, Kingfa launched new facilities in Spain, Poland, and Mexico, creating a global production network that spans Europe, North America, and Southeast Asia, significantly enhancing its international competitiveness.

Zhongfu Shenying Carbon Fiber

The Q3 financial report of Zhongfu Shenying indicates that the company recorded operating revenue of RMB 615 million in Q3, a YOY increase of 59.23%.

In the first three quarters, Zhongfu Shenying's operating revenue grew by 37.39% YOY, primarily driven by a significant increase in sales of carbon fiber products. The market demand for high-performance carbon fiber materials continues to expand, propelling the company's accelerated penetration into high-end application areas such as aerospace and new energy.

As Chinese carbon fiber products gain traction in sectors like aerospace and new energy, Zhongfu Shenying's market position and profitability are expected to grow further.

Cathay Biotech

Recently, Cathay Biotech has released its performance report for Q3. The data shows that the company achieved operating revenue of approximately RMB 874 million in Q3, a YOY increase of 14.9%.

Cathay Biotech is a listed company engaging in the research, development, production and sales of new bio-based materials based on synthetic biology and other disciplines and utilizes bio-manufacturing technology. The products are used in textile, automotive, electronic appliance, consumer goods, and other sectors.

To further expand its downstream market, the company is collaborating with value chain partners on the research, development, production, and sales of battery housings, energy storage containers, and automotive components made of bio-based composites. Production will be built and launched based on the progress of downstream market promotion.

Cathay Biotech is accelerating the large-scale adoption of bio-based materials in the new energy and transportation sectors through a strategy of material innovation combined with capital collaboration.