Henan HDF Chemical Co., Ltd. (Henan HDF)
released its financial figures for H1 2016:
-
Total revenue: USD15.71 million, down 31%
YoY
-
Net profit: USD120,000, down 75% YoY
Source: Baidu
Fortunately, although the company
experienced a fall in financial performance, it still remained profitable.
"The glyphosate industry is depressed,
leading to falls in the revenue and profit margin of glyphosate, our leading
product. This ultimately caused slumps in our total revenue and net
profit," explained Henan HDF. Henan HDF's business consists of three
sectors, namely pesticide technical & formulations, fine chemicals and
others.
During the reporting period, the company achieved USD11.22 million from
pesticide technical & formulations business, 71% of the total revenue.
Notably, glyphosate business, belonging to pesticide technical &
formulations business, took up 70%+ of revenue to the total revenue in the past
few years. However, the revenue from glyphosate only amounted to USD10.88
million in H1 2016, down 34% YoY.
In China, many pesticide enterprises whose
main business is glyphosate have suffered net losses in H1 2016, such as
Zhejiang Wynca Chemical Industry Group Co., Ltd. As of now, China's glyphosate
price still keeps low. CCM predicted that Henan HDF's total revenue and net
profit in year 2016 will report large YoY falls, but it is still very likely to
remain profitable.
Henan HDF's financial figures, H1 2016,
million USD
|
Item
|
H1
2016
|
H1
2015
|
YoY
change
|
|
Total revenue
|
15.71
|
22.85
|
-31%
|
|
Cost of sales
|
15.47
|
22.27
|
-31%
|
|
Operating profit
|
0.16
|
0.58
|
-72%
|
|
Total profits
|
0.16
|
0.55
|
-71%
|
|
Net profit
|
0.12
|
0.49
|
-75%
|
|
Gross profit margin
|
10.68%
|
12.54%
|
-1.86 percentage points
|
Note: Total profits = operating profit +
non-operating profit - non-operating expenses; net profit = total profits -
income tax expense.
Source: Henan HDF Chemical Co., Ltd.
Henan HDF's revenue by business, H1 2016,
million USD
|
Item
|
H1
2016
|
H1
2015
|
|
Revenue
|
Cost
of sales
|
Revenue
|
Cost
of sales
|
|
Pesticide technical & formulations
|
11.22
|
10.98
|
19.95
|
19.49
|
|
Fine chemicals
|
4.49
|
3.05
|
2.90
|
0.49
|
|
Others
|
/
|
/
|
0.002
|
0.003
|
|
Total
|
15.71
|
14.03
|
22.85
|
19.98
|
Source: Henan HDF Chemical Co., Ltd.
This article comes from Glyphosate China Monthly Report 1609, CCM
About CCM:
CCM is the leading market intelligence provider for China’s
agriculture, chemicals, food & ingredients and life science markets. Founded in 2001, CCM offers a
range of data and content solutions, from price and trade data to industry
newsletters and customized market research reports. Our clients include Monsanto,
DuPont, Shell, Bayer, and Syngenta. CCM is a brand of Kcomber Inc.
For more
information about CCM, please visit www.cnchemicals.com or get in touch with us
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Tag: glyphosate