Wednesday, April 18, 2012

Zibo Wanchang: Revenue Decreases but TMOF's Sales Increases in 2011

Zibo Wanchang Science & Technology Co., Ltd. (Zibo Wanchang), the largest trimethyl orthoformate (TMOF) producer in China, achieved a good performance in its sales revenue of TMOF, an important raw material of azoxystrobin, though the company's total revenue witnessed a slight decline in 2011, according to CCM’s April Issue of Fungicides China News.
Generally speaking, Zibo Wanchang's total revenue and net profit decreased by 0.33% and 4.67% year on year in 2011 to USD39.07 million and USD10.62 million respectively. However, the company's sales revenue of TMOF increased by 22.59% in 2011 compared with that in 2010 to USD25.23 million, accounting for 64.58% of its total revenue.
Due to the maintenance of production equipment, Zibo Wanchang's production was affected to a certain extent, leading to its total output reduction in 2011, hitting 24,000 tonnes, down 7.26% year on year. Under the circumstances, Zibo Wanchang's total revenue witnessed a decline last year.
On the contrary, the output of Zibo Wanchang's TMOF increased to 8,870 tonnes in 2011, up 18.66% compared with that in 2010, thanks to the robust demand from downstream industries, like pesticides and medicine, and the company's timely adjustment of operation plan of production lines. As a result, the company's sales revenue of TMOF saw a rise last year. 

It is particularly worth noting that Zibo Wanchang's revenue from overseas market (refers specifically to direct export by itself) witnessed significant growth in 2011, reaching USD4.59 million from USD24,346 in 2010. Owing to its enhanced ability of foreign trading, Zibo Wanchang established close business relationship with several overseas enterprises last year, which greatly raised its export revenue accordingly.
In terms of domestic sales situation, Zibo Wanchang's revenue from Shanghai was the most in 2011 and took up 41.72% of its total revenue, followed by Shandong, Jiangsu, Zhejiang and others. Moreover, the YOY growth rates of the company's revenue from Shanghai and Shandong witnessed growth, while those from Jiangsu and Zhejiang went down at the same time. 

Source: Fungicides China News 1204

Main content of Fungicides China News 1204:
Lier Chemical's net profit down 2.95% year on year in 2011
Huaxing Chemical's fungicide revenue up 69.85% year on year in 2011
Shandong Dacheng continues financial deficit in 2011
Zibo Wanchang: revenue decreases but TMOF's sales increases in 2011
Huifeng Agrochemical to establish new subsidiary
Lanfeng Biochemical increases investment in Ningxia Lanfeng 
Limin Chemical's application for IPO at feedback implementation stage 
Pesticide export volume and value increase in China in 2011
Key domestic producers' output of mancozeb technical down 2.11% year on year in 2011
Jiangsu's pesticide application amount down 2.4% in 2011 over 2010
Bayer organizes National Potato Grower Club in Beijing
Jiangsu Changqing to build new pesticide production lines
Autumn-sown rape sclerotium disease to accumulatively strike 3.33 million ha. of rape in China in 2012 
Major crop diseases and insect pests to occur on large scale in Anhui in 2012 
Shaanxi Sunger registers cyprodinil 50% WDG

Fungicides China News, a monthly publication issued by CCM International on 10th of every month, provides a wealth of exclusive information and analysis, research and development dynamics of domestic competitors, analysis on import and export of key products, cooperative opportunities with domestic and foreign companies, and market information of foreign patent-expired products.

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