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Zhejiang Wynca witnessed loss of USD2.6 million in H1 2016

Date:10-31-2016

By Think Real - Zhejiang Wynca Chemical Group Co., Ltd. (Zhejiang Wynca) released its semi-annual report in 2016. During the reported period, Zhejiang Wynca’s sales revenue was USD525.9 million, down 12.9% YoY; its net profit loss was USD2.6 million, while it lost USD5.1 million in corresponding period of 2015.
 
During the reported period, the gross profit rate of Zhejiang Wynca’s pesticides was 8.4%, down 0.40 percentage point YoY, which can be attributable to the historically low price of glyphosate, one of Zhejiang Wynca’s main products. The gross profit rate of another main product, namely organic silicon, was 14.4%, up 2.3 percentage points YoY.
 
Table 1: Revenue and gross margin of main businesses of Zhejiang Wynca, H1 2016
Item
Revenue, million USD
YoY change
Gross margin
YoY change, percentage points
By product
Pesticides
214.4
-22.6%
8.4%
-0.40
Organic silicon
193.7
1.6%
14.4%
2.3
Inorganic silicon
40.5
-13.9%
9.6%
0.75
By region
Domestic
320.3
-10.9%
/
/
Overseas
194.9
-15.5%
/
/
Source: Zhejiang Wynca
 
During the reported period, Zhejiang Wynca, on one hand, was developing modern agrochemical and silicon; on the other hand, the company is to establish platforms for agricultural services and silicone comprehensive services. The former platform will focus on the “unmanned aerial vehicle”, and expand its business to integrated agricultural products, crop solutions and rural financial services, to create integrated ecosystem of agricultural service.
 
 
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