China丨Listed pesticide companies achieved substantial increases in the first three quarters

Recently, Jiangshan, Flagchem, Yangnong and Wynca released the third quarter reports or forecast announcement. The reports show that enterprises related profits have increased substantially in the first three quarters.

Flagchem

On Oct 25, Flagchem released its report for the third quarter of 2022. In this report, the company achieved total operating revenue of ¥2.165 billion, an increase of 43.55% over the same period of the previous year; The net profit attributable to shareholders of the listed company was ¥299 million, an increase of 136.94% over the same period of the previous year; Earnings of per share were 0.97 yuan.

It shows that the main business of Flagchem is the R&D, production and sales of new high efficiency and low toxicity pesticides, and the company occupies a leading position in the market of many products, such as Fluroxypyr, Clothianidin and Lufenuron. The company has 81 authorized patents, including 53 invention patents. It is the first Chinese enterprise to independently master the key technologies such as fluorination, asymmetric synthesis and chiral technology, phase-transfer catalysis and ammonification.

Jiangshan Agrochemical

On October 24, Jiangshan released the announcement of the third quarter report of 2022. The announcement shows that Jiangshan shares in the first three quarters of 2022 to the net profit of ¥1.689 billion, a year-on-year increase of 221.86%; Operating revenue of ¥7.10 billion , a year-on-year increase of 48.12%; Earnings of per share was 5.6863 yuan, up 221.86% year on year.

The main business of Jiangshan is the R&D, production and sales of pesticide products mainly including herbicides and insecticides, chemical products mainly including special chemicals, chemical intermediates and Chlor-alkali, as well as steam products of cogeneration of heat and power.

Yangnong Chemical

On October 21, Yangnong Chemical disclosed the pre-increase announcement of the performance of the first three quarters of 2022. It is estimated that the net profit attributable to its parent will be about ¥1.638 billion during the reporting period, with a year-on-year growth of about 61%. Compared with ¥1.016 billion in the same period last year, an increase of about ¥623 million, or about 61%. It is expected that from January to September 2022, the net profit attributable to the owner of the parent company after deducting non-recurring gains and losses will be about ¥1.00 billion , which will increase by about ¥812 million, or about 82%, compared with ¥988 million in the same period last year.

Yangnong Chemical is a national Pyrethrin production base and national high-tech enterprises. It has four wholly-owned subsidiaries: Sinochem Crop Care, Sinochem Agricultural, Youjia Plant Protection and Youthchem, which have initially formed a two-wing structure. The company's performance has maintained a good growth trend.

Wynca

On Oct 19, Wynca released the announcement of the pre-increase of performance for the first three quarters of 2022. In the first three quarters of 2022, Wynca expects to realize net profit attributable to shareholders of the listed company of ¥2.85 billion to ¥2.9 billion, compared with ¥1.6 billion in the same period last year, an increase of ¥1.25 billion to ¥1.3 billion, a year-on-year increase of 78.01 % to 81.13 %, the announcement showed.