Songwon industry group achieved fruitful results in 2018

Songwon industrial group achieved fruitful results in 2018 - total sales reached 788.738 billion won in 2018 - total net profit reached 37.805 billion won in 2018 - gross profit rate of songwon was maintained at 19.8% in 2018 - March 7, 2019 - songwon industrial group released financial performance report in 2018. Compared with the fourth quarter of 2017, sales in the fourth quarter of 2018 continued to grow, contributing to overall steady growth throughout the year. The total comprehensive sales revenue of songwon2018 reached 788.738 billion won, an increase of 8.8% over last year. In contrast, despite the traditional de stocking activities carried out by customers at the end of the year, adverse exchange rate fluctuations and rising raw material costs, which are expected to have a negative impact on the product line, the sales of polymer stabilizer (PS) in 2018 still achieved steady growth. Songwon's TPP business sales also saw growth, and the performance of polyester glycol and polyurethane was also considerable. Despite the severe environment caused by global trade tensions and economic uncertainty, demand for songwon products remained strong last year, with significant growth in all regions of the world, especially in the Americas, Europe and other Asian countries.

However, songwon found that South Korea's demand slightly shrank due to the weak overall economic outlook, tight supply and pricing issues that had a negative impact on sales in the region throughout 2018. In 2018, songwon successfully expanded the capacity of the world first manufacturing facility in South Korea. The new production line industry has been installed, and the large-scale production of functional monomer has been successfully started. This year, songwon further strengthened its PS product portfolio and continued to develop and expand its portfolio of specialty chemicals, fuels and lubricant additives. Looking to the future, songwon believes that political and trade uncertainties may lead to a slowdown in the pace of economic development in 2019. However, although it is too early to predict whether the slowdown is a temporary phenomenon in nature or a structural adjustment, songwon still expects the demand for products to maintain a steady growth in the medium term. Looking forward to the future, the company will always focus on building a world first * team, consolidating songwon's innovation advantages and enhancing the company's overall strength in providing special chemicals to meet the needs of customers. By adopting a prudent and robust approach to further improve operational efficiency and continue to implement key strategic growth initiatives, songwon firmly believes that it can follow the right path to achieve long-term performance goals in the coming year.