Jiangsu Lanfeng: pesticide revenue in 2016 reaches USD119.0 million, growing by 34.5%

Date:05-12-2017

By Think Real - Recently, Chinese agrochemical company Jiangsu Lanfeng Biochemical Co., Ltd. (Jiangsu Lanfeng) published its 2016 annual report, according to which the company’s revenue was USD211.3 million, increasing by 44.2% year on year; its net profit reached USD15.5 million, turning loss into gain (it lost USD10.0 million in 2015).

The pesticide business of Jiangsu Lanfeng is under the operation by its parent company and wholly-owned subsidiaries Ningxia Lanfeng Fine Chemicals Co., Ltd. and Jiangsu Lanfeng Import & Export Co., Ltd. In 2016, the revenue from the business reached USD119.0 million, growing by 34.5% year on year; its gross profit margin was 23.9%, increasing by 2.7 percentage points.

Table : Revenue and gross margin of main business of Jiangsu Lanfeng, 2016

Item		Revenue, million USD	YoY change	Gross margin	YoY change, percentage points
By product	Pesticide technicals & intermediates	119.1	34.5%	23.9%	2.7
	Fine chemicals and intermediates	34.0	10.7%	22.1%	2.2
	Sulfuric acid	7.5	-51.0%	-0.91%	-3.2
	Processed product	8.6	-22.6%	21.3%	-12.4
	Others	0.70	-20.5%	36.1%	-27.7
	Medicinal Products	41.4	/	79.8%	/
By region	Domestic	102.6	58.6%	/	/
By region	Overseas	108.6	32.8%	/	/

Source: Jiangsu Lanfeng

The company explained about the reasons behind the growth in the agrochemical business:

1. The sale in the domestic market accumulated good governmental bid-inviting experience.

2. Foreign trade sales grew a lot year on year.

3. The market shares and brand recognition of some pesticide technical and formulations improved.

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