May. 17, 2019
Recently, Chinese agrochemical company Soochow Agrochemical published its annual report, revealing that business revenues in the reporting period reached Yuan488 million, which is a 33.67% increase year on year, and profits attributable to its mother company reached Yuan95.73 million, which is a 22.69% increase year on year.
Soochow Agrochemical is an intermediate manufacturer, covering imidazolidine, 3-Methyl-4-nitroiminoperhydro-1, 3, 5-oxadiazine and ethyl N-cyanoethanimideate. The profitability of the company mainly comes from the sales of guanidine nitrate, nitroguanidine, imidazolidine, methylnitroguanidine, imidazolidine and ethyl N-cyanoethanimideate, of which revenues from imidazolidine, 3-Methyl-4-nitroiminoperhydro-1,3,5-oxadiazine and ethyl N-cyanoethanimideate, respectively, accounts for 47.94%, 34.13% and 15.95% of total revenues.
Over the last years, Soochow Agrochemical has carried out the optimization of its manufacturing process, technical upgrades and cost controls, which have resulted in a continued decrease of costs and increase in profits. In the first half of 2018, the market for the products of the company was quite good, in which product sales increased significantly, compared to the same period in the the previous year, while prices also stayed at higher levels, thus the production load of the company remained high. However, due to the market change, the sales and prices of the products in the second half of 2018 fell, as compared to the first half of the year, resulting in a decline in sales and prices. As such, the gross profit of the company remained almost the same as the previous year, reaching approximately 28.47%.
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