Nanjing, Jiangsu – Maysta Chemical, China’s largest polyurethane surfactant maker, estimates its 2019 net profit will be between CNY69m and CNY 78m ($10m to $11m). This is an increase of between 70% and 90% compared with 2018.
Net profit for 2019, less non-recurring items, is expected to range between CNY 56m and CNY 61m, representing a rise between 120% and 140%, according to a Maysta statement in January.
In 2019, Maysta set up a research institute, and had an array of newly developed mid- to higher-end products. These came to market within the year, and helped increase revenue.
‘The average feedstock price in 2019 was significantly lower compared with a year ago, further boosting the company’s profit margin,’ the statement added.
Maysta also posted substantial year-on-year growth in exports.
The company had resumed full operation on 10 February, after the extended Chinese New Year holiday, according to its website.
Upgraded portfolio and lower feedstock price drives up 2019 profits at Maysta
