AgroPages-Hunan Haili Chemical Industry’s net profit increases by 38%-Agricultural news

Hunan Haili Chemical Industry’s net profit increases by 38%

Chinese agrochemical company Hunan Haili recent published its 2019 interim business report, which highlighted the fact that during its reporting period, the company achieved a business income of Yuan987 million, up 57.22% year on year while its net profit attributable to the mother company was Yuan23 million, up 37.79% year on year. Its cash flow is also reported to be Yuan80.50 million, up 442% year on year.

Environmental compliance regulation inspections conducted in industrial chemical parks in northern Jiangsu Province caused an imbalance between supply and demand, and the price and volume of the prime product, carbofuran, are both rising. While carbamate insecticide is becoming the company’s leading product, Haili is also the exclusive producer of propoxur and pirimor in China.

It also leads in the production of carbofuran, methomyl and carbaryl, and in recent years it has seized opportunities to develop efficient, low-toxic and low-residue insecticides. As a result, Haili successfully developed carbosulfan, benfuracarb and thiodicarb, supported by a technical team from the Hunan Provincial Chemical Research Institute, pushing it way ahead of its competitors. Organophosphorus insecticide is also an important part of the company’s portfolio, and it also exclusively produces ancymidol and pirimiphos-methyl.

Upon completion of Haili’s heterocyclic pesticide and intermediate project and other environmentally-friendly projects costing Yuan840million, the company’s total income is expected to reach Yuan1.5 to 2 billion, doubling its business. These projects include the production of salicylonitrile azoxystrobin intermediates, which are in considerable demand while the market potential of pirimiphos-methyl is 10,000 tons.