On 26 April, 2016, Sichuan Guoguang Agrochemical Co., Ltd. (Sichuan Guoguang) released its full-year 2015 financial figures. This was the company's first financial report after it got listed on the Shenzhen Stock Exchange on 20 March, 2015.
Specifically, its revenue from pesticide business reached USD56.81 million – RMB366.81 million (60.63% of the company's total), up 4.86% YoY, about 30% of which came from fungicides.

                                                                          Source: Baidu

However, the gross profit margin of pesticides fell by 1.07 percentage points YoY to 47.59%, for its cost of sales grew faster than the sales. Despite this, this figure is relatively high in the overall pesticide industry. In particular, "The gross profit margin of fungicides is around 40%, better than the average in China's fungicide industry," said Sichuan Guoguang.

 
Sichuan Guoguang's financial figures by business/product, 2015

Source: Sichuan Guoguang Agrochemical Co., Ltd.

Sichuan Guoguang's sales volume of pesticides in 2015 went up by 8.46% YoY to 5,996 tonnes, and the corresponding output and stock increased by 12.46% and 4.78% YoY respectively.

The company's pesticide business mainly covers the R&D, production and sales of:

• Fungicide formulations: mainly triadimefon, metalaxyl + mancozeb, mancozeb, zineb, prochloraz, tricyclazole, mancozeb + carbendazim, quintozene, thiophanate-methyl, hymexazol and procymidone

• Plant growth regulators: mainly paclobutrazol, 1-naphthyl acetic acid, mepiquat chloride, ethephon, triacontanol, prochloraz + ethephon, paclobutrazol + mepiquat chloride, forchlorfenuron, 2,4-D Na, chlormequat, gibberellic acid and 4-indol-3-ylbutyric acid + 1-naphthyl acetic acid

• Water soluble fertilizers: either amino acids or macro elements contained

Sichuan Guoguang's sales and output of pesticides, 2015, tonne

Source: Sichuan Guoguang Agrochemical Co., Ltd.

Overall, Sichuan Guoguang announced in its full-year 2015 financial annual report that:

• Total revenue: USD93.71 million (RMB605.02 million), up 3.69% YoY

• Total profit: USD24.30 million (RMB152.89 million), up 8.3% over USD22.44 million (RMB144.86 million) in 2014

• Net profit: USD20.73 million (RMB133.81 million), up 8.28% YoY

Notably, thanks to the financial supports it got after listed on the Shenzhen Stock Exchange, as of 31 Dec., 2015, the company achieved:

• Total assets: USD140.96 million (RMB910.13 million), up 83.66% YoY

• Liabilities: USD12.15 million (RMB78.46 million), down 5.05% over USD12.80 million (RMB82.63 million) in 2014

• Net assets: USD128.81 million (RMB831.67 million), up 101.4% YoY

Sichuan Guoguang's financial figures, 2013-2015, million USD

Source: Sichuan Guoguang Agrochemical Co., Ltd.

This article comes from Fungicides China News 1605, CCM

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