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Huifeng Agrochemical achieved 37% sales income, e-business at considerable loss
May. 10, 2016
During the report period (from Jan to Nov, 2015), Huifeng Agrochemical earned sales income of 3.333 billion yuan, up 37.22% year on year (y-o-y), having achieved shareholders’ profit of 173 million yuan, down 14.09% y-o-y, mainly attributable to the unsatisfactory performance of some subsidiaries, particularly a loss experienced by the e-business platform www.16899.com.
During the report period, the company’s pesticide income was 2.854 billion yuan, accounting for 85.62% of the total income. Fungicide income was 854 million yuan, down 4.72% y-o-y; herbicide income was 588 million yuan, up 24.69% y-o-y; and intermediate income was 724 million yuan, up 14.70% y-o-y.
In 2015, Huifeng Agrochemical introduced the “internet +” integration. During the year, the company positively promoted its e-business activities and expanded investment in its e-business platform. However, as the e-business was just launched, it is running at a loss. In the meantime, the company acquired Shijiazhuang Ruikai Chemicals Ltd to enter the glufosinate space, which broadens the company’s product range.
In the years ahead, Huifeng Agrochemical will continue its systematic development of its compound product and expand its market size to improve its price performance ratio by lowering costs across its supply chain so that, eventually, all products can be supplied with higher cost efficiency to fulfill customer needs.
Source: AgroNews
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