Published on the 20th
every month, Glyphsoate
China Monthly Report is a monthly publication released by CCM. It offers timely update and
close follow up of China’s various kind of Glyphsoate market dynamics, analyze
the market data and trends.
Major columns include the latest information and in-depth analysis on market
trends, supply and procurement opportunities in raw materials and
intermediates, technology process, price updates, new policies and company
dynamic, etc.
Following are
headline news of the latest issue of Glyphsoate China
Monthly Report:
Glyphosate becomes
operating performance booster of Chinese pesticide companies
The thriving
glyphosate market and enhancing profitability kept on in H1 2013. As for
China's pesticides companies owning glyphosate or PMIDA business, glyphosate or
PMIDA played a role of booster on their operating performance in H1 2013.
Sichuan Hebang to construct 50,000t/a glyphosate
production project
Sichuan Hebang
plans to construct 50,000t/a glyphosate production project with a total budget
of USD81.81 million, and it owns the production equipment and production
technique which equals to 50,000t/a glyphosate production capacity now, but
there are still two main obstacles for the completion of this project.
Export volume of glyphosate technical decreases by
5.63% in July 2013 MoM
The export volumes
and export prices of glyphosate technical, PMIDA and glyphosate formulations
all recorded YoY growth in July 2013. The export volumes of glyphosate
technical and glyphosate formulations decreased by 5.63% and 22.92% MoM
respectively in July 2013.
Glyphosate technical price increases moderately in
Sept. 2013
The glyphosate
technical price saw a moderate increase in Sept. 2013 MoM. In the current
circumstances, the ex-works prices of glyphosate products are expected to
remain stable or to increase slightly in late Sept. and mid-Oct. 2013.
Operating performance comparison among Zhejiang
Wynca, Nantong Jiangshan and Anhui Huaxing in H1 2013
Because of the
thriving market and the rising profitability of glyphosate, Zhejiang Wynca,
Nantong Jiangshan and Anhui Huaxing all achieved excellent operating
performance in H1 2013. All three companies recorded double-digit YoY growth
rates for their total revenue in H1 2013. The three companies' stocks also
improved significantly during H1 2013. The prices of glyphosate related
products are at their highest level since 2009 and are likely to be maintained
throughout H2 2013. This will help the three companies maintain their strong
financial performance.
Jiangsu Yangnong achieves strong profits largely
due to its glyphosate business in H1 2013
Jiangsu Yangnong
released its 2013 semi-annual report on 27 Aug. 2013, showing that Jiangsu
Yangnong's total revenue in H1 2013 was USD261.54 million, with a growth rate
of 29.95% YoY. Jiangsu Yangnong's foreign revenue was USD175.79 million
(RMB1,076.49 million) in H1 2013, and this figure constituted the highest ever
proportion of its total revenue for corresponding periods. This was largely due
to the strong operating performance in its glyphosate business. The revenue
from the glyphosate business in H1 2013 increased by about 88% over H1 2012.
Almost all of Jiangsu Yangnong's glyphosate products are produced for export
and in H1 2013.
Six glyphosate registrations in Aug. 2013
There were 6
registration certificates of glyphosate products in Aug. 2013. All of them were
renewed registrations. Thus, there are 67 registration certificates of
glyphosate products in China as of 31 Aug. 2013, among which 31 are renewed
registrations.
Anhui Huaxing's revenue increases by 38.08% in H1
2013
Anhui Huaxing has
become profitable once again in H1 2013. This is in contrast to the situation
of H1 2011 and H1 2012, when Anhui Huaxing incurred both an operating loss and
a net loss. It achieved a total revenue and operating profit of USD116.36
million and USD2.74 million respectively in H1 2013. Given that Anhui Huaxing
now holds sufficient funds and that the glyphosate related products market will
continue to prosper in H2 2013, Anhui Huaxing is expected to achieve a better
operating performance in H2 2013.
Nantong Jiangshan's operating profit increases by
4,113.88% in H1 2013
Nantong
Jiangshan's profit skyrocketed in H1 2013, with an operating profit and a net
profit of USD26.84 million and USD21.43 million respectively. These strong
figures were mainly due to the high sales and profitability of glyphosate
related products. However, Nantong Jiangshan remained in a weak financial
position in H1 2013, which was mainly attributed to its huge debt.
Zhejiang Wynca
successfully turns loss into gain in H1 2013 YoY
Zhejiang
Wynca successfully turned loss into gain in H1 2013 YoY. It achieved total
revenue and operating profit of USD595.36 million and USD46.87 million
respectively in H1 2013. With the continuance of high glyphosate products
prices and the coming demand seasons from Southern Hemisphere countries,
Zhejiang Wynca is expected to accomplish its 2013 revenue target of USD1,059.3
million.
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