Jiangshan Agrochemical & Chemical: 2017 semi-annual net profit 1497.59 percent up YOY

 

Structural analysis shows that during this report period the company’s business income was Yuan1.723 billion, which was decreased over that of last year, mainly due to the reduced income of subsidiary company. If trade business is excluded, the company would have business income of Yuan1.709 billion, 11.04 percent up year on year, of which pesticide sales income reached Yuan1.147 billion, 4.40 percent up, which was an increase of Yuan48 million. The sales of dichlorvos, dipterex, glyphosate and amide products have increased respectively to certain degree. The sales income of chemical products reached Yuan 195 million, 19.21 percent up, which was an increase of Yuan31 million, mainly due to the price rise of some of the chemical intermediates.

 

According to market forecast of the key product and the production status of the company, it is expected that the company’s accumulated net profit from the beginning of 2017 to the end of the next report period is going to increase significantly over last year.

 

On an earlier date, Jiangshan Agrochemical & Chemical announced a plan to launch the phase 2 amides project, which is the annual 26,000-ton amide herbicide technical production project covering acetochlor, butachlor, propisochlor and S-metolachlor. Upon completion of the phase 2 project, the company will have an annual herbicide technical capacity of 46,000 tons, which will be a complement to the already commissioned annual 70,000-ton glyphosate capacity, thus to establish a pesticide product structure of the company which is characterized by non-selective herbicide like glyphosate and supplemented by amide selective herbicide. The structure is expected to generate higher profitability in favor of the company.