Red Sun net profit up 512% in H1

Nanjing Red Sun Group published its Semi-Annual Report for the first half of 2017 on August 14.
 

During the period, the company reported business income of Yuan2.443 billion, up 12.37 percent year-on-year, of which pesticide sales reached Yuan2.436 billion, up 12.50 percent year-on-year.
 

The business profit was Yuan399 million, up dramatically by 1289.29 percent year-on-year. Net profit attributable to the parent company was Yuan351 million, up 512.56 percent year- on-year.

	2017 H1	2016 H1	Change
Operating Income	2,442,957,218.35	2,173,970,022.24	12.37%
Net Income Attributable to Shareholders	350,737,181.00	57,257,882.92	512.56%

During the first half of the year, the company’s Pyridine, 3-Methylpyridine, VB3, Paraquat, Diquat, Paraquat glue and Chlorpyrifos businesses were running good on a steady basis.
 
In addition, the company has succeeded in its business transformation process towards the establishment of a superior industry chain covering more product ranges. The company has been the first among the industry to make a historic change to switch from conventional chemical pesticide-based businesses towards a biochemical-based ecosystem, which encompasses biochemical pesticide, biochemical animal nutrition and biomass new energy. 
 
The company has so far set up 10 product chains, being based upon biochemical pesticide, biochemical animal nutrition and biomass new energy. The 10 product chains of the company are the only ones in China, six of which are the only ones in the world: 1) Biochemical VB3; 2) Biochemical Imidacloprid; 3) Biochemical L-Glufosinate and the Glufosinate industry chain; 4) Chlorpyrifos industry chain; 5) novel Diquat industry chain; 6) Paraquat glue industry chain.