Guangxin: Glyphosate and Diuron are sold smoothly and orderly and 2022 annual net profit expected to increase by 52.09 - 67.64%YOY

On Jan 7, Guangxin announced a pre-increase of 2022 annual performance

It is estimated that the net profit attributable to shareholders of listed companies in 2022 will be ¥225,000.00 to ¥2,48,000.00, an increase of ¥77,0619,700 to ¥100,0619,700 over the same period of last year, and an increase of 52.09% to 67.64% over the same period of last year. It is anticipated that the net profit attributable to shareholders of listed companies in 2022 after deducting non-recurring gains and losses is ¥207,000.00 to ¥230,000.00, an increase of ¥69,385.43 to ¥92,385.43 over the same period of last year, and an increase of 50.42% to 67.13% over the same period of last year.

 The main reasons for the pre-increase of the performance are:

Guangxin expressed that during the reporting period, the company actively promoted the construction progress of new projects, and completed the acquisition of Liaoning Shixing and fully implemented the strategy of industrial chain integration.

During the reporting period, the second production line (100,000 t/a) of 1-Chloro-4-nitrobenzene was put into operation successfully, which enriched the product categories of the company. The sales of 1-Chloro-4-nitrobenzene,4-Aminophenol,Thiophanate-Methyl, Glyphosate, and Diuron were stable and orderly. Through continuous improvement of the industrial chain layout, the company meets the personalized needs of domestic and foreign customers, actively expands the upstream and downstream markets, and further gives play to the advantages of the company's integrated industry.

In addition, during that time, Guangxin accurately grasped market opportunities, flexibly adjusted business strategies, proactively optimized product structure and actively expanded the market to effectively improve the company's management quality. Although the price of the company's main products has recovered from the peak of last year, the average price and profit of the main products in the reporting period are better than the same period last year.