Dec. 5, 2018
On the 5th December, Zhejiang Xinnong Chemical
goes public in Shenzhen Stock Exchange (stock code：002942).
From 2015 – 2017, Xinnong achieved respectively business income of Yuan537 million, Yuan599 million and Yuan808 million as well as respective net profit of Yuan37.59 million, Yuan38.87 million and Yuan76.02 million. In the first three quarters of 2018, the company's business income was Yuan707 million, and its net profit was 109 million.
Xinnong’s main products include triazophos, chlorpyrifos, zinc thiazole technical and formulations as well as intermediates such as O,O-Diethyl Thiophosphoryl Chloride, N-(1-Ethylpropyl)-3,4-Dimethylaniline, phenylhydrazine and 1,3-cyclohexanedione.
The company has been committed to the R&D and production of pesticide products. Since the establishment of the factory for more than 30 years, Xinnong has developed many excellent products, such as Xianju Triazophos and Xinnong Chlorpyrifos. Zinc thiazole is an innovative fungicide created by Xinnong, which has been granted invention patent in 6 countries including Australia, Indonesia, Egypt, Vietnam, Philippines and Malaysia.
In the international market, Xinnong has established long-term and stable cooperative relations with Bayer, BASF, Dow and FMC. After years of development, the company has established a relatively complete marketing network, with customers in Asia, Europe and America.
Mr. Xu Qunhui, Chairman of Xinnong, said: “Today, our company officially landed in the capital market, which marks the new history of Xinnong. We are listed for the company’s development in a higher and further direction. It is a choice based on the company's development goals. As a listed pesticide company, we are deeply responsible."
As Xinnong’s IPO prospectus published before, the funds to be raised will be used on its annual 1,000-ton pyraclostrobin and 6,600-ton environment-friendly water-based formulation productions.
After long-year development, Xinnong has built its competitive edge as follows:
Technology and Innovation Advantage - chlorpyrifos, zinc thiazole and O,O-Diethyl Thiophosphoryl Chloride related products and research programs have received a number of national awards, being included many times in China’s National Science & Technology Support Plan and the State Torch Plan. In December 2016, Xinnong’s zinc thiazole production technique was awarded the China Invention Gold Prize by State Intellectual Property Office and the World Intellectual Property Organization. At present, Xinnong owns 14 invention patents.
Industry Chain Advantage – Xinnong has so far established several complete industry chains. Its products are of both cost advantage and quality advantage, which have facilitated to build up Xinnong’s secured product supply.
Product Advantage – Xinnong has successfully developed competitive and differentiated product series such as triazophos technical, chlorpyrifos technical, zinc thiazole technical and formulations.
Brand and Market Advantage – As backed up by its high-quality product, stable supply and complete service capacity, Xinnong has established long-term and stable strategic cooperation with overseas clients. In February 2012, Xinnong was identified as the “Famous Brand of Zhejiang Province”. Its created zinc thiazole has been awarded the “China Crop Protection Contribution Award.”
Safety and Environmental Advantage – Xinnong always attaches importance to safety and environmental protection, having constructed its complete waste treatment facility and an on-line environmental monitor system. The waste treatment of the company reaches nationally advanced level of China.
"In the future, the company will continue to focus on differentiated competitive strategies, give full play to the advantages of the industry chain, increase personnel training and introduction, increase investment in science and technology innovation, strengthen management system construction, fully promote brand building, and strive to expand domestic and international market share and create more value for users. Xinnong will Strive to become China's most innovative, most famous , and most respected agrochemical enterprises.” Xu said.