China丨CYNDA： The first three quarters’ net profit expected to be ¥320 million - ¥330 million with robust growth from Quinotrione and Propanil ·Clomazone

 On Oct 13, CYNDA released a pre-increase announcement for the third quarter of 2022.

This announcement shows that CYNDA expects to achieve 320 million yuan to 330 million yuan in net profit attributable to shareholders of listed companies in the first three quarters of 2022, an increase of ¥236 million to ¥246 million or 282.00% to 293.94% year-on-year, compared with the same period last year.

According to the announcement, CYNDA is expected to achieve a net profit of ¥374 million to ¥384 million after deducting non-recurring gains and losses attributable to shareholders of listed companies in the first three quarters of 2022, which is expected to increase by ¥298 million to ¥308 million, up 394.06% to 407.27%, compared with the same period last year.

CYNDA said the company's performance growth in the first three quarters of 2022 was mainly due to the increase in operating profit and the reasons are as following:

--The first and second phase of the company's production base in Liaoning reached its production, the output of major products increased, and the overall profitability of the company continued to improve.

--Overseas business revenue increased significantly compared with the same period last year.

--The sales prices of the company's main products increased year-on-year, and the gross profit margin recovered.

--Through technical marketing services and channel layout optimization, the sales of domestic formulations such as Queoxalone and Propanil·Clomazone have achieved significant growth.