Limin Chemical: 2017 net profit increases 21.53%, international standards renewal builds industry influence
Date:04-20-2018
Limin Chemical published its 2017 annual report recently. The business income of the company in 2017 reached Yuan1.423 billion, 22.66% up year on year, while the net profit attributable to shareholders reached Yuan137 million, 21.53% up year on year.
During this period, the overall sales revenue grew considerably due to the enhanced market development, while acquisitions and investments brought in earnings as expected.
The annual report shows that in 2017,
Limin Chemical obtained seven product registrations in the Chinese market and 79 product registrations in the international market, mostly in Southeast Asia and Africa. Limin Chemical also launched a technical company – Jiangsu Limin Detection Service — to establish a GLP lab, which is expected to receive the endorsement of the Chinese Ministry of Agriculture and the Organization for Economic Cooperation and Development. This will enhance the overall research and development capacity of the company.
In terms of participation in the formulation of international standards, the two achievements of the company — the renewal of Food and Agriculture Organization (FAO) standard for mancozeb and propineb and the renewal of Collaborative International Pesticides Analytical Council (CIPAC) analytical methods for mancozeb — were submitted at the 14th CIPAC/FAO/WHO joint meeting for discussion, and will be sent to the Panama Meeting for a final decision.
In 2017, Limin Chemical conducted two acquisitions to take over Hebei Shuangji and Shandong Daming. Through the two acquisitions, the industry chain of Limin Chemical has extended to the raw material upstream, which enables business integration, strengthens the superiority of the scale-up business and reduces the cost of production.
Speaking of its future acquisition strategy, Limin Chemical said it will continue the consolidation of the industry chain, correlating to the main business of the company. Limin Chemical is looking for promising companies, which will be complimentary to the company in product structure, and have a strong ability to make profits and run quality businesses. In the meantime, Limin Chemical is adopting a cautious attitude towards the concept of “development of two main businesses.”
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