Building Materials Listed Companies Report Strong First-Quarter Performance

With the release of first-quarter financial reports and forecasts by building materials listed companies, the industry's recovery trend is gradually becoming clear. In the eyes of the industry, this round of performance recovery in the building materials sector shows distinct characteristics. On one hand, the business sentiment of sectors such as glass fiber and electronic cloth continues to rise. On the other hand, an increasing number of companies are opening up new growth spaces by going global. The building materials industry is reducing its reliance on traditional real estate and moving towards a new development stage.

On April 20, Wanhua Chemical released its 2025 Annual Report and the First-Quarter Financial Report for 2026. The first quarter of 2026 witnessed significant growth: revenue reached RMB 54.052 billion, a substantial year-on-year increase of 25.50%, setting a new record; net profit attributable to shareholders amounted to RMB 3.718 billion, up 20.62% year-on-year. Specifically, revenue from polyurethane products totaled RMB 19.294 billion; revenue from petrochemical products and trading reached RMB 20.506 billion; and revenue from fine chemicals and new materials products amounted to RMB 10.345 billion.

  April 20 – In early trading, SC crude oil futures opened significantly higher, narrowing the decline to 2.51%. According to Everbright Futures’ research report dated April 20, overall, the current crude oil supply imbalance exhibits structural divergence: Middle Eastern exports to external markets have declined, while exports from other regions—including temporary sales of Russian oil stored on vessels at sea—have increased, alongside a substantial rise in U.S. exports. Inventory levels also display structural divergence: with numerous tankers congested at the Strait of Hormuz, floating storage volumes—counted as part of total inventory—have risen, whereas onshore inventories are continuously being drawn down. Nonetheless, total inventory levels are expected to decline markedly. Meanwhile, Middle Eastern production and exports will undergo reassessment, all of which will impact crude oil pricing. From the current market perspective, an “information war” has emerged as an additional factor influencing oil prices, driving the price center lower. During the ceasefire negotiation period, it is certain that internal divisions within Iran have intensified—constituting a vulnerability for Iran and a strategic advantage for the U.S. Leveraging its media dominance, the U.S. is fostering market expectations of recurring geopolitical volatility to erode crude oil’s risk premium; in contrast, the fundamental supply-demand deficit remains a secondary pricing factor. Consequently, oil prices are expected to fluctuate within a range.

On April 20, Oriental Yuhong recently stated during an institutional research that since the beginning of this year, the continuous rise in international crude oil prices has led to an increase in the prices of raw materials such as asphalt. To ensure the stability of product quality, maintain the healthy development of the industry, and protect the long-term interests of customers, the company and several other leading companies in the industry have successively issued product price adjustment notices. Considering the differences in the execution rhythm of customer orders, the effect of the price adjustment will gradually be realized.

On April 20, at the media day of CHINAPLAS 2026 International Plastics Exhibition, Bao Lewei, Senior Vice President of Basf Asia-Pacific Specialty Materials, stated that Asia-Pacific remains the growth engine of the global plastics industry. He pointed out that in 2025, the Asia-Pacific region will account for 46%-55% of global plastics market revenue and production.