China: Nanjing Hongbaoli Rigid PPG Sales Volume Surged in H1

Chemical News: China: Nanjing Hongbaoli Rigid PPG Sales Volume Surged in H1

https://www.chemnet.com Aug 03,2010
Nanjing Hongbaoli Co., Ltd released H1 results with operating revenues of Rmb 754 million, positively up 74.11% over the same period of last year.

Operating profits rose by 7.29% to Rmb 77.6492 million while total profits climbed up by 8.17% to Rmb 78.0761 million. Basic earnings were reported Rmb 0.24 per share.

Gross profit margin gained slightly. The company reported integrated gross of 16.5% in Q1 and 19% in Q2. Average purchasing price of PO in the first half of this year went up by 42.47% while integrated gross dropped by 7.1% to 17.9% compared with last year. The cost and average sales price of rigid PPG respectively rose by 26% and 21.8%, with gross margin losing 2.8%.

Sales volume surged in the first half of this year. Sales volume of rigid PPG jumped 54.52% over the last year. The company’s existing rigid PPG capacities amounted to 90kt/y as its 50kt/y rigid PPG reconstruction project put into operation in June, which expanded rigid PPG supplies in domestic market.

Thanks to the expansion of domestic demand and promotion of energy saving policies, consumption of rigid PPG advanced with increasing demand for solar water heater. Meanwhile, the rigid PPG industry would also face the new opportunities brought by building insulation market.

Print | add to Favorites | Close