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.
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
Fungicides
China News, a
monthly publication issued by CCM on 10th, releases a wealth of exclusive
analysis on market dynamics, company dynamics, import and export data, and
other more brief news inside the industry. You may find cooperative opportunities
with domestic and international manufacturers, supplier and exporters.
CCM is dedicated to market research in China
Guangzhou
CCM Information Science & Technology Co., Ltd.
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