China丨RedSun's net profit surged 25 times, new products Diquat dichloride went into production

On Oct 31, 2022, RedSun published its performance report for the third quarter and the three quarters of 2022.

During the reporting period, in the face of multiple challenges, such as the complex international political and economic situation, the global epidemic, and the continuing high cost of raw materials and maritime logistics, the company actively developed itself by grasping the opportunities brought by global food security and increasing demand. And the company realized the completion and production of new products such as Diquat dichloride, and made every effort to ensure stable production and shipment efficiently to guarantee customer demand, and the sales of major products increased substantially. Finally, the results for the reporting period were significantly higher than in the same period last year.

In the third quarter, RedSun achieved operating revenue of about ¥1.8 billion, up 77.33% year on year; Net profit attributable to shareholders of the listed company was about ¥328 million, a year-on-year increase of 5,554.23%; Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was about ¥356 million, up 1,959.62% year on year.

In the three quarters, RedSun achieved an operating revenue of ¥5.3 billion, with a year-on-year growth of 77.08%; Net profit attributable to shareholders of the listed company was ¥945 million, up 2,504.27% year on year; Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was ¥981 million, up 2,678.70% year on year.

In the first three quarters, the Company's R&D investment was ¥240 million, up 130.85% year on year, which was mainly due to the increase in R&D investment for new products during the reporting period.