Two coating companies turn losses into gains in 2023 01-31-2024

Summary: In mid-Jan. 2024, several coating enterprises revealed their performance forecasts. Specifically, net profits of Zhuzhou Feilu and Kinlita in 2023 are expected to grow YoY.

On 15 Jan., 2024, Zhuzhou Feilu High-tech Materials Co., Ltd. (Zhuzhou Feilu) disclosed its 2023 performance estimation, showing that in 2023, net profits attributed to shareholders of the listed company are predicted to reach USD2.40 million–USD3.53 million (RMB17.00 million–RMB25.00 million), returning to profits from losses of USD14.47 million (RMB102.37 million) in 2022.


Zhuzhou Feilu stated that its net profits will increase YoY mainly because of the following reasons:

  • The company continued developing anti-corrosion coatings and waterproof materials in 2023 and its performance in fields such as rail vehicle coating, railway and bridge coating improved to some extent.
  • The company made progress in new energy sector, particularly in fields of photovoltaic (PV) adhesive, PV EPC, and wind vane tower barrel anti-corrosion coating.
  • Raw material prices went down, reducing costs and driving up gross profit margins.

    On the same day, Shanghai Kinlita Chemical Co., Ltd. (Kinlita) publicised its 2023 performance forecast. In Jan.–Dec. 2023, net profits attributed to shareholders of the listed company are anticipated to pick up to USD1.88 million–USD2.71 million (RMB13.30 million–RMB19.20 million) from -USD14.99 million (-RMB106.07 million) in 2022.


    Kinlita said that the company is expected to turn losses into gains during the reporting period for the following factors:

  • Kinlita's overall earning capacity improved and its gross profit margins went up significantly compared with last year.
  • The company enhanced control of purchase costs of raw materials, labour costs, and other expenses.
  • The market of commercial vehicles rebounded in 2023. Specifically, domestic output and sale volume of commercial vehicles reached around 4.04 million and 4.03 million units, up by 26.8% and 22.1% YoY, respectively. The steady recovery of commercial vehicle market boosted demand for automotive coatings from downstream customers, which pushed up Kinlita's revenues of relevant coating products.
  • Source:CCM

    More information can be found at CCM Titanium Dioxide China Monthly Report.

    About CCM:

    CCM is the leading market intelligence provider for China’s agriculture, chemicals, food & feed and life science markets. Founded in 2001, CCM offers a range of content solutions, from price and trade analysis to industry newsletters and customized market research reports. CCM is a brand of Kcomber Inc.

    For more information about CCM, please visit or get in touch with us directly by emailing or calling +86-20-37616606.

    Subscribe to our Newsletter


    Next Press