Rainbow continues to improve the global marketing network, promote R&D to support advanced manufacturing

  Rainbow issued a quarterly report in 2023, during the reporting period, the company achieved an operating income of 2.233 billion yuan, down 28.4% year on year. The operating profit was 205 million yuan, down 54.1% year on year. Net profit of returning to the mother was 183 million yuan, down 52.83% year on year. Withholding non-net profit reached 183 million yuan, down 52.97% year-on-year.

Rainbow's revenue in the first quarter of 2023 decreased by 311 million yuan from the previous quarter. Net profit increased 0.75 million yuan quarter on quarter, compared with the fourth quarter began to pick up. In terms of product prices, the price of technical pesticide has shown a continuous downward trend since August 2022, mainly due to the release of new production capacity and the high industrial inventory in overseas markets.

According to the strategic plan formulated by Rainbow, the focus is on two aspects. First, in terms of improving the global marketing network, the company is expanding more new markets to avoid over-dependence on a single market, and at the same time, it is rapidly advancing the Model C business model in many countries. As of December 31, 2022, the company had more than 300 domestic registrations in China and more than 4,900 overseas registrations (242 domestic registrations and 4,007 overseas registrations as of the end of 2021). Secondly, in terms of advanced manufacturing supported by R&D and innovation, the company has actively adjusted the focus of R&D and innovation to the advanced manufacturing of single active component since 2019, and has made breakthroughs in the advanced manufacturing technology of some active components. In 2023, projects will be implemented one by one to further support the expansion of the global market.