Wynca: 2022 first-quarter net profit expected to reach RMB1.15 to 1.25 billion

On March 21, Wynca released its 2021 annual report. In 2021, the company achieved an annual operating income of RMB19 billion which is an increase of 51.45% year on year and a net profit attributable to mother company of RMB2.654 billion which is an increase of 354.56% year on year. This is a new high in the history of the company since going public. 

Meanwhile, the company's performance preannouncement for the first quarter of 2022 was announced. In the first quarter, glyphosate, organosilicon and industrial silicon have continued the upward price trend since 2021, as a result of strong market demand. The company has fully utilized its industry chain advantages and has seized the market opportunities to make flexible adjustment to business strategy while making optimization of the product structure. Hence, the company’s operation profit is maximized which creates value for shareholders.

Wynca’s net profit attributable to shareholders is expected to reach RMB1.15 to 1.25 billion in the first quarter of 2022 which will be an increase of 313% to 349% year on year. This will be once again a record high net profit in a single quarter.

Wynca says that going forward the company’s development pattern will change from the “phosphorus and silicon two-legged” operation to the “three-legged” operation, as being backed up by the three elements - "chlorine, silicon, phosphorus". To this end, the company will continue its business extension via a change from the existing products and technologies to the new energy materials and solutions, which will open up the "third battlefield" for new energy applications to cultivate new profit growth areas. 

Wynca ranked No. 14 at the List of Global Top 20 Agrochemical Enterprises for FY2020 published by AgroPages.