Hebang to invest 178.55 million yuan in cycolxylidin project

Hebang Biotechnology announced today that the company plans to invest 178.55 million yuan in projects that will produce 2,000 tons/year of cycolxylidin technical and 5,000 tons/year of cycolxylidin DP. Construction for these projects will last one year.

Cycolxylidin was developed by Hebang with a state patent, and its pesticide registration has been approved. The active ingredient comes from neonicotinoid insecticides, featuring a wide spectrum, high efficiency, and low toxicity to the environment. In the context of society calling for improved food safety and the rising awareness of soil pollution, insecticides with low toxicity and high efficiency can avoid any irrational competition between chemical pesticides and face a more promising future. Besides this, in comparison with traditional nicotinic products, cycolxylidin also has the advantage of a lower manufacturing cost.

According to the company’s financial report, the new projects will earn after-tax profits of 83.12 million yuan. Hebang thinks the projects will help it penetrate new markets, enhance its core competitiveness and anti-risk capability, and finally add a new growth point to its business development.