Some of BSM's fundraising projects have been delayed; Stable performance and positive net profit growth in the first half of the year

 On August 11, BSM announced that the company held a meeting of the Board of directors to review and pass the "Proposal on the extension of some of the Company's offering and investment projects", which will issue shares to specific objects, that is, the "annual production of 8,500 tons of Pentanone series green new materials project" to reach the scheduled usable state date from the original plan of June 2023 to October 2023.

Project delay and reasons

According to the announcement, as of June 30, 2023, the "annual output of 8,500 tons of Pentanone series green new materials project" raised funds and investment progress has reached 94.20%, the investment progress is higher, and the main project has been completed. In order to strictly control the overall quality of the project and ensure the smooth development of the project, the production line is still in the centralized commissioning stage, and the implementation period of the project has been extended compared with the original plan, and it cannot reach the scheduled usable state in June 2023. It was decided to extend the time for the project to reach the predetermined usable status

After the 8,500 t/a of Methacetone series green new materials Project" was put into operation, the new production capacity of 3-Pentanone  was 5,500 t/a,Methyl acetate3,000 t/a, Pentyl acetate 3000 t/a  and many other projects

Net profit in the first half of the year was 78.56 million yuan, an increase of 5.10%

On August 11, BSM released the semi-annual report of 2023, during the reporting period, the company achieved operating income of 363 million yuan, a decrease of 2.46%. Net profit attributable to shareholders of listed companies was 78.5612 million yuan, an increase of 5.10%; Net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 75.043,700 yuan, up 4.89% year on year; Basic earnings per share 0.22 yuan/share.

The semi-annual report said that in the first half of 2023, the company achieved a total sales revenue of 363 million yuan, and achieved a net profit attributable to shareholders of listed companies of 78.5612 million yuan.

BSM is a high-tech enterprise that integrates the research, development, production and sales of environment-friendly pesticide pharmaceutical intermediates, pesticide technicals and pesticide formulations. The main products of the company are the technicals, intermediates and formulations of environmental protection, high efficiency and low toxicity pesticide Pendimethalin. It is the only pesticide enterprise in China with the production and research capacity of the whole industrial chain of technicals, intermediates and formulations of Pendimethalin. At the same time, relying on research and development and innovation, the company actively promotes the comprehensive utilization of Pendimethalin byproducts, using the by-products produced in the synthesis of Pendimethalin intermediates, and creatively develops the synthesis process of three excellent pesticide varieties of Methoxyfenozide, Flubendiamide and TOPRAMEZONE, comprehensively forming the unique industrial chain layout of the "1+3" industry.