Wynca’s net profit for first three quarters of 2022 exceeded RMB2.85 bn, glyphosate profits rise year on year

Zhejiang Wynca announced on October 19, the growth forecast for the first three-quarters of 2022. 

According to the announcement, Wynca predicts a net profit of the first three quarters attributable to shareholders ranging between RMB2.85-2.9 billion, a year-on-year increase of RMB1.25-1.3 billion over the previous year, up 78.01-81.13% year on year.

Wynca attributes the reasons for the performance growth in the first three quarters of 2022 to the following:

1. During the reporting period, the prices of the company’s primary products, such as glyphosate, organosilicon and industrial silicon, have, in general, and on average, remained higher than last year, which will lead to higher profitability. However, prices decreased a little bit compared to the highest point of the year.

2. During the reporting period, the company has fully used its advantages of industry chain operation and global marketing deployment, with continuous optimization of product structure and adjustment of domestic and foreign marketing strategies following market changes. This has ensured maximized value contribution from its business unit within the industry chain. In the meantime, due to the COVID lockdown difficulties and logistic bottlenecks, the company used its smart supply chain platform and effectively coordinated internal and external resources. This has dramatically facilitated stable production and the sale of significant products, having provided a vital safeguard for the achievement of the operational objectives of the company.

According to the information, Wynca is Transfar’s holding subsidiary. It is engaged in crop protection and silicon-based new material development, of which the crop protection business unit has set up an ″intermediate–ingredient–formulation integration business model″. It encompasses a complete crop protection system which includes seeds, seedlings, herbicides, insecticides, fungicides and crop nutrients.