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24 Listed Agrochemical Companies Reported Mixed Results
Source:China Crop Protection Industry Association  author: Ellie Xu
  date: 2015-10-12  

In the first half of 2015, affected by excess production capacity of the agrochemical industry, continued market downturn and fierce competition, agrochemical companies had very different results in performance and the overall profit growth slowed down.

Among the 24 listed agrochemical companies for statistics, except Wynca and Lanfeng Biochemical, 22 achieved profitability, but seven of them had a negative growth, four with a fall of over 50%. Meanwhile, Huapont Life Sciences, Xingfa Group, Hunan Haili and Shenghua Biok all saw a net profit growth of over 40%.

The controversial paraquat prices stayed low. The average market prices of Red Sun’s main products paraquat and pyridine dropped by over 30% year on year respectively, which led to a significant fall in the company’s profitability and a 38.99% year-on-year fall in net profit. Sanonda also saw a sharp decrease of 59.20% in net profit year on year, as its main products paraquat and glyphosate fell in price.

So far, over half of the 24 listed agrochemical companies have released their performance forecasts for the first three quarters, of which six forecast gains and six, losses. Wynca expects losses.