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Huifeng Agrochemical achieves 163% increase in profit
Oct. 27, 2017
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China|
|
2017 Q3（Yuan）
|
Change（%）
|
2017 Q1-Q3（Yuan）
|
Change（%）
|
|
Operating Income
|
2,889,803,178.49
|
96.49
|
8,938,656,290.89
|
162.39
|
|
Net Income Attributable to Shareholders
|
94,392,658.13
|
163.10
|
328,433,120.65
|
134.08
|
Huifeng has estimated a net profit of Yuan419-506 million, attributable to shareholders, which will bring a 140-190% year-on-year increase. The announcement said that the performance could be achieved owing to the increase in quantity and price, the sales of patented products, the growing proportion of differentiated formulations, sound development of the subsidiary Huifeng Petrochemical and equity premium from assigned subsidiary Nongyi e-commerce.
Huifeng is in possession of 200,000-ton production capacity covering the synthesis of technical material, and processing and mixing of formulations. It is a leading company in the research and production of romoxynil octanoate technical, prochloraz technical and epoxiconazole technical.
In August, Huifeng changed its name from Jiangsu Huifeng Agrochemical to Huifeng Biological Farming. The company is preparing to engage itself in research, production and marketing of biopesticide, botanical pesticide, agro-microbial agent, compound microbial fertilizer and bio-organic fertilizer. The biological farming portfolio is expected to be a promising venture for the company.
Source: AgroNews
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