Suli’s 2021 revenue reaches RMB2.292 billion, sales of major products growing significantly

Chinese agrochemical company Suli Co., Ltd recently released its 2021 annual report. During the reporting period, the company achieved an operating income of RMB2,291,648,717.64, an increase of 47.03% year on year, as well as a net profit attributable to shareholders of RMB232,394,032.24, which is an increase of 32.99%.

In 2021, the operating income of pesticides and pesticide intermediates of Suli Co., Ltd was RMB1,124,895,874.37, accounting for 49.09% of the company's operating income, up 20.38% year on year; the gross profit margin was 25.82%, down 5.31% year on year.

In 2021, the production volume of pesticides and pesticide intermediates of Suli Co., Ltd was 23,019.64 tons, an increase of 11.10% year on year; sales volume was 23,487.96 tons, up 19.74%; and inventory was 2,293.44 tons, down 16.96% year on year.

According to the company's annual report, the main reasons for the growth of operating income and net profit are the following: 

 Due to the worldwide supply shortages caused by the pandemic and the high prices of major products, along with the implementation of energy consumption control policies in China in the second half of the year, the selling prices of the company's main products, azoxystrobin technical and DBDPE, continued to rise in the second half of 2021 at a sharp upward trend. The selling price of the company's main product, chlorothalonil, stopped declining and returned to normal. 

 During the reporting period, the production of azoxystrobin technical remained stable; and the new DBDPE production line was running smoothly. The increase in production ensured the growth of the company's performance. In addition, with the gradual increase of market demand, the sales volume of the company's main products, azoxystrobin technical, DBDPE, hydrobromic acid and chlorothalonil technical, increased significantly.

 The operating income of Suli Pharmaceutical, Suli’s wholly owned subsidiary, also maintained its growth trend, having increased by 32.99% year on year.