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Jiangsu Lanfeng: pesticide revenue in 2016 reaches USD119.0 million, growing by 34.5%
May. 12, 2017
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ChinaThe pesticide business of Jiangsu Lanfeng is under the operation by its parent company and wholly-owned subsidiaries Ningxia Lanfeng Fine Chemicals Co., Ltd. and Jiangsu Lanfeng Import & Export Co., Ltd. In 2016, the revenue from the business reached USD119.0 million, growing by 34.5% year on year; its gross profit margin was 23.9%, increasing by 2.7 percentage points.
Table : Revenue and gross margin of main business of Jiangsu Lanfeng, 2016
|
Item
|
Revenue,
million USD
|
YoY change
|
Gross
margin
|
YoY change,
percentage points
|
|
|
By product
|
Pesticide technicals
& intermediates
|
119.1
|
34.5%
|
23.9%
|
2.7
|
|
Fine chemicals and
intermediates
|
34.0
|
10.7%
|
22.1%
|
2.2
|
|
|
Sulfuric acid
|
7.5
|
-51.0%
|
-0.91%
|
-3.2
|
|
|
Processed product
|
8.6
|
-22.6%
|
21.3%
|
-12.4
|
|
|
Others
|
0.70
|
-20.5%
|
36.1%
|
-27.7
|
|
|
Medicinal Products
|
41.4
|
/
|
79.8%
|
/
|
|
|
By region
|
Domestic
|
102.6
|
58.6%
|
/
|
/
|
|
Overseas
|
108.6
|
32.8%
|
/
|
/
|
|
Source: Jiangsu Lanfeng
The company explained about the reasons behind the growth in the agrochemical business:
1. The sale in the domestic market accumulated good governmental bid-inviting experience.
2. Foreign trade sales grew a lot year on year.
3. The market shares and brand recognition of some pesticide technical and formulations improved.
Source: Think Real
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