On 16 August 2011, Anhui Annada Titanium Industry Co., Ltd. (Annada) reported strong financial results in H1 2011. Its revenue was USD56 million, increasing by 42.70% over the same period last year. Annada's profit reached USD6 million, nearly doubled that of H1 2010. The high revenue and profit growth are mainly due to higher TiO2 selling prices and optimized product structure, according to CCM’s August issue of TiO2 China Monthly Report.
Annada has taken the advantage of global economic recovery and strong demand of TiO2, overcoming the adverse effect of continually rising feedstock prices by increasing product prices in time. The revenue of rutile TiO2 increased by 79.18% thanks to higher prices and sales volume. The gross profit margin of both anatase TiO2 and rutile TiO2 increased by 4.42% year on year.
In H1 2011, the company's product structure was further optimized. The proportion of high-profit rutile TiO2 sales in total revenue increased from 64.54% in H1 2011 to 80.90%, while the proportion of anatase TiO2 sales in total revenue decreased from 35.46% in H1 2010 to 19.10%.
In the same period, Annada has further improved its sales network. As a result, its revenue in the markets of northeastern of China and South China increased and the revenue consolidated in East China market. What's more, the proportion of exports has increased substantially.
On 18 Feb. 2011, Annada issued 28,590 thousand shares through non-public offering to seven specific investors, including its parent company Tongling Chemical Industry Group Co., Ltd. (Tonghua Group), in order to raise fund for its 40,000t/a rutile TiO2 technical renovation project.
Annada expects its revenue and profit continue to grow in the second half of 2011, and estimates year-on-year profit increase will be in the range of 190% to 240% in the first nine months of 2011.
(Guangzhou China
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Editor’s Note
Domestic TiO2 prices started to decrease in August 2011, as China
The TiO2 downstream companies saw profit decrease in H1 2011, as the costs of TiO2 and other raw materials increased largely in this period.
In order to regulate the coating market, 14 national mandatory standards regarding to coatings have been implemented since 1 August 2011.
As for titanium feedstock, major foreign suppliers took measures to increase production.
TiO2 China Monthly Report, a monthly publication issued by CCM International on 25th of every month, will penetrate into Chinese TiO2 market from a global view, deeply analyse TiO2 industrial chain and manufacturers’ competitiveness and trace the latest industrial hotspots and dynamics, aiming to provide the most valuable information about China
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Guangzhou CCM Information Science & Technology Co., Ltd.
17th Floor, Huihua Commercial & Trade Mansion, No.80 Xianlie Zhong Road, Guangzhou 510070, China
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