Chinese Chemical Listed Companies Deliver Strong Q1 2026 Results Amid Product Price Recovery

A number of Chinese chemical listed companies have posted impressive financial results for the first quarter of 2026, with overall high performance growth driven by rising prices of key chemical products and improved supply-demand dynamics.

Data from Wind Information shows that as of press time on April 24, several leading chemical firms have released their Q1 2026 reports, including Hengyi Petrochemical Co., Ltd., Duofluoride New Materials Co., Ltd., Wanhua Chemical Group Co., Ltd., Shandong Dongyue Organosilicon Materials Co., Ltd., and Kingfa Sci. & Tech. Co., Ltd. All these companies have achieved substantial growth in their core financial indicators.

After a period of price sluggishness, prices of various chemical products, such as propylene glycol, methyl ethyl ketone and acrylic acid, rebounded in the first quarter of 2026, laying a solid foundation for the industry’s performance recovery. Economic Net reports that the recovery of chemical product prices is closely linked to the global energy market fluctuations and the optimization of the domestic industrial structure.

Wang Jianlin, an analyst at Shandong Longzhong Information Technology Co., Ltd., told Securities Daily that propylene glycol prices rose significantly in March due to factors such as crude oil price fluctuations, bringing positive impacts to related listed companies. “Overseas demand for China’s propylene glycol products has increased notably, leading to a considerable export volume in the first quarter,” she added.

Wu Zewei, a special researcher at Suzhou Commercial Bank, also told Securities Daily that the performance growth of chemical enterprises in the first quarter stems from three key drivers: improved supply structure, smooth price transmission and prominent cost advantages. “After years of capacity expansion, capital expenditure in the chemical industry has slowed down significantly, with backward production capacity exiting at an accelerated pace, which has balanced the supply-demand relationship,” he explained. He further noted that leading companies, with low-cost inventories and strong bargaining power, have successfully passed on upstream raw material price pressures to the downstream, expanding product price spreads and boosting Q1 gross profits.

Specifically, Hengyi Petrochemical, a leader in the integrated “refining-chemical-fiber” industrial chain, reported operating income of 29.948 billion yuan, a year-on-year increase of 10.23%, and net profit attributable to shareholders of 1.995 billion yuan, a stunning year-on-year surge of 3773.77%.

Duofluoride, a leading lithium hexafluorophosphate producer, achieved operating income of 3.216 billion yuan (up 53.26% year-on-year) and net profit attributable to shareholders of 376 million yuan (up 480.14% year-on-year), mainly driven by the growth in its new energy materials and battery sectors.

Wanhua Chemical, a global leader in polyurethane, posted operating income of 54.052 billion yuan (up 25.50% year-on-year) and net profit attributable to shareholders of 3.718 billion yuan (up 20.62% year-on-year). The company stated that the advantages of the raw material diversification transformation of its ethylene Phase I plant were prominent in the first quarter, and the prices of its main products rose year-on-year in March due to rising international crude oil prices and changes in the global chemical supply-demand pattern, leading to increased gross profits.

Dongyue Organosilicon, a specialist in the organosilicon industry, reported operating income of 1.256 billion yuan (up 4.49% year-on-year) and net profit attributable to shareholders of 194 million yuan (up 426.99% year-on-year). Kingfa Sci. & Tech. saw a slight 0.49% year-on-year decrease in operating income to 15.59 billion yuan, but its net profit attributable to shareholders still grew by 23.72% to 305 million yuan, thanks to dual technological and market breakthroughs in its new materials business.

The strong performance of Chinese chemical listed companies in Q1 reflects the steady recovery of the industry. With the booming demand for new materials from emerging fields such as artificial intelligence computing power, new energy vehicles, UHV and photovoltaics, more chemical enterprises are accelerating their extension to the high-end of the value chain, injecting new vitality into the high-quality development of China’s chemical industry.