Hailir shows sustained growth in revenue, profit in first three quarters

Chinese agrochemical company Hailir Pesticides and Pharmaceuticals Group Co., Ltd released its performance report for the first three quarters of 2022, on October 29.

According to the performance report, Hailir achieved an operating income of RMB3.803 billion in the first three quarters of 2022, which is a year-on-year increase of 47.2%. The net profit attributable to shareholders was RMB431 million, a year-on-year increase of 38.41%. The basic earnings per share was RMB1.26, up 36.96% year on year, and weighted return on equity was 13.89%.

In recent years, Hailir continued the diversification of its product portfolio and expansion of business scale. Following the Hengning Phase I Project, Hailir has made plans for its Qingdao Hengning Phase II project. In April 2022, Hailir announced an investment of RMB301 million on the ″Fungicide, herbicide technical and formulation, intermediate newbuild project,″ covering annually 3,000 tons of prothioconazole technical and other products. 

As these new projects develop, the company’s product portfolio is expected to expand further. At the same time, the company has continued to extend its industrial chain. In June 2022, the company announced that it would acquire 26% of the stakes in Shanxi Jinxinyi. One of the leading products of the targeted company is one of the intermediates required by Hailir’s fungicide prothioconazole. Going forward, the stability of Hailir’s core supply chain is expected to be improved, and the strategic intermediate product range and technicals are expected to be strengthened, which will contribute to the constant improvement of the company’s profitability.

As China’s heat-supply season draws near, the whole industry and the company have moved into the critical moment of ″winter storage and winter effort.″ In the fourth quarter, Hailir Group and all its affiliations are prepared to strengthen management and enhance efficiency while laying stress on production, market supply, work safety, pollution control and improvement of quality of operations toward a satisfactory performance in the whole year.