Analysis of Market status and Competition Pattern of basic chemical industry in 2022 In 2021, the annual performance of the chemical industry grew significantly

1.2 Analysis of profitability of chemical industry

Gross profit margin: The overall gross profit margin of the industry in 2021 will be 20.4%, an increase of 1.2% year-on-year; 2022Q1 The overall gross profit margin of the industry was 20.2%, down 1.5% year-on-year.

Net interest rate: The overall net interest rate of the industry in 2021 is 6.8%, an increase of 2.7% year-on-year; 2022Q1 The overall net interest rate of the industry was 7.2%, down 0.2% year-on-year.

Overall, in 2021, under the background of the impact of the 2020 epidemic, the profitability of the chemical industry has significantly improved; In the first quarter of 2022, because of the repeated epidemic and high fluctuations in raw material prices, the profitability of the industry has fallen.

Expense management capabilities were optimized, and the industry's period expense rate continued to fall. Sales expense ratio: In 2021, the sales expense ratio of the chemical industry was 1.94%, down 0.88% year-on-year; Sales expense ratio in 2022Q1 was 1.69%, down 0.89% year-on-year. Overhead rate: In 2021, the overhead rate of the chemical industry was 2.72%, down 0.68% year-on-year; 2022Q1 was 2.22%, down 0.80% year-on-year. Financial expense ratio: The financial expense ratio of the chemical industry in 2021 is 0.85%, down 0.32% year-on-year; 2022Q1 was 0.72%, down 0.23% year-on-year.

1.3 Operational efficiency of the chemical industry

The overall inventory and accounts receivable scale of the industry has been greatly improved, and the efficiency of use also needs to be improved. In 2021, the total inventory of the industry increased by 48% year-on-year to 660.4 billion yuan, and the number of days of inventory turnover decreased by 5 days year-on-year to 44 days; The scale of accounts receivable increased by 27% year-on-year to 303.9 billion yuan, and the turnover days of accounts receivable decreased by 3 days year-on-year to 17 days. 2022Q1 The total inventory of the industry increased by 50% year-on-year to 786.3 billion yuan, and the number of inventory turnover days increased by 4 days year-on-year to 50 days; The scale of accounts receivable increased by 33% year-on-year to 391.4 billion yuan, and the turnover days of accounts receivable decreased by 1 day year-on-year to 19 days.

1.4 Asset scale and leverage ratio of chemical industry

Fixed assets and construction under construction: The chemical industry fixed assets growth rate rose from a relatively low in 2020, reached 10.6% in 2021, and increased to 13% in the first quarter of 2022; The growth rate of the same ratio of construction in progress continued to pick up after 2019, reaching 38.9% in 2021 and falling slightly to 35.1% in the first quarter of 2022. From the data of the proportion of projects under construction, it fell to a relatively low 8.5% in 2020, began to pick up significantly in 2021, and reached 9.5% in the first quarter of 2022, indicating that the construction investment in the chemical industry is still relatively high.

Industry assets: In 2021, the industry's net operating cash flow scale is 566.9 billion yuan, an increase of 34.3%; In 2021, the overall asset-liability ratio of the industry was 51.8%, an increase of 0.7% year-on-year, and the asset-liability ratio continued to rise to 52.7% in 2022Q1. Industry asset structure still needs to be optimized.