Affected by product sales and price increases, the 2022 net profit of Flagchem increased 96.63% year on year

On March 30, Flagchem disclosed its 2022 annual report, saying that during thereporting period, the company achieved operating revenue of 2.97 billion yuan,a year-on-year growth of 35.42%. Net profit of returning to the mother was 420 million yuan, up 96.63%year on year and non-net profit of 429 million yuan, up 113.66% year on year.

Flagchem said that in 2022, in the face of complex market environment, the company actively overcome raw material price increasesand other adverse factors, effectively improve the safety and environmentalcontrol, and do its best to ensure production and supply. Due to the sales volume and price increase of the company's mainproducts, the operating performance of the company finally achieved a certaingrowth.

At present, the company's projects under construction include: 2projects of Ningyitai are in trial production, and the other projects are inorderly progress. One Guorui Chemical project is in trial production, and the otherprojects are in orderly progress. Two projects of Flagchem arein trial production, and the remaining projects are in orderly progress.

Up to now, Flagchem has 114 patents, 8 PCT patents applied and 1 patent authorized in the United States. During the reporting period, the company wholly acquired SK Chemical,which can make full use of the advantages of SK's  brand and relevant qualifications in the formulationfield, expand the company's formulation   production and sales capacity,further extend to the downstream product chain, constantly expand and improvethe business structure, improve the overall income scale of the listed company,and enhance the company's sustainable profitability and anti-risk ability.