Monday, October 14, 2013

Zibo Wanchang to launch new TMOF and TEOF production lines in H2 2013

Zibo Wanchang Science & Technology Co., Ltd. (Zibo Wanchang), the largest manufacturer of trimethyl orthoformate (TMOF) and triethyl orthoformate (TEOF) in China, plans to operate its two IPO projects, including 7,000t/a TMOF and 6,000t/a TEOF production lines in the second half of 2013, which will enhance the company's overall competitiveness and bring it handsome profit in the near future, according to Fungicides China News, issued by CCM in October.

As a matter of fact, Zibo Wanchang has intended to operate the TMOF and TEOF production lines in 2012, according to the company's prospectus issued in 2011 when the company successfully got listed in the Shenzhen Stock Exchange. However, Zibo Wanchang had to postpone the schedule of above mentioned two projects, due to various factors, such as technology, policy and weather.

Specifically, Zibo Wanchang totally invested about USD15.69 million (RMB96 million) in these new projects of TMOF and TEOF. According to Zibo Wanchang's 2013 semi-annual performance report released in late Aug., the overall debugging work of these two IPO projects has been almost completed by the end of June this year. After operating these two IPO projects, the capacities of TMOF and TEOF will expand to 10,000t/a and 12,000t/a respectively.

As the two major products of Zibo Wanchang, TMOF and TEOF contribute the most to the company's overall performance. In detail, the revenues of the company from TMOF and TEOF in H1 2013 reached about USD11.53 million (RMB70.53 million) and USD8.03 million (RMB49.15 million), accounting for 47.06% and 32.79% of the total revenue from the company's all products respectively.

Although the YoY growth rates of the gross profit margins for TMOF and TEOF witnessed decrease to a certain extent as a result of the reduction in the sales prices, but their gross profit margins were not at low level in H1 2013, hitting 53.27% (TMOF) and 32.42% (TEOF) separately.

The company's performance report also shows that it plans to realize the revenue of USD65.36 million (RMB400 million) in 2013. Moreover, the sales volume of its major products of TMOF and TEOF could hit 18,000 tonnes. Although the actual sales volume of TMOF and TEOF in H1 2013 did not reach the goal in the original plan, it almost flatted with that in the same period of last year.

In H2 2013, as the board of directors of Zibo Wanchang revealed, it will continue to actively take measures to broaden the marketing channels, timely adjust the new and old factory production layout and make the new production lines put into operation as soon as possible to achieve the company's sales goal and increase the profitability to a great extent.

Table of Contents of Fungicides China News 1310:
Shanghai Port prices of main fungicides in China, Oct. 2013
Ex-factory prices of main fungicides in China, Oct. 2013
FOB Shanghai prices of main fungicides in China, Oct. 2013
Result of famous brands of pesticides in China in 2013 announced
Ethylenediamine import declines but export rises in China in first eight months of 2013
Seven azoxystrobin registrations approved in China, Sept. 2013
Fungicide import decreases but export increases in China in Aug. 2013
ChemChina to integrate its agrochemical assets
HNAU successfully develops new synthesis technology of silthiopham
15.8 million ha.of autumn grain crops harvested in China as of late Sept. 2013
China's first protein biological fungicide to resist viruses developed by IPP, CAAS
BASF obtains first registration of fluxapyroxad in China
China's output of chemical pesticides in Aug. 2013 down by 12.43% year on year
Noposion continues to acquire Changlong Chemicals' 20% stock equity
Difenoconazole export declines in China in H1 2013
Huanglongbing spreads quickly in China
More attention should be paid to southern blight of peanut
Huapont-Nutrichem intends to acquire two chemical companies
First dodine registration approved in China
Zibo Wanchang to launch new TMOF and TEOF production lines in H2 2013

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