Yantai, Shandong – Wanhua posted a 96% year on year rise in its 2017 H1 sales to CNY 24.4 bn ($ 3.6 bn); net profit over the same period jumped 255% to CNY 4.9 bn.
‘With MDI business showing good profitability, the company continued to up its research investment, focusing on high-tech, high value-added new materials,’ said the company’s half year report issued in August.
Wanhua said prices of pure MDI reached CNY 27,200/ton in June, compared to CNY 19,400/ton a year ago; polymeric MDI price increased by two thirds year-on-year to CNY 23,000/ton in June.
During the half year, the company produced 873 kT polyurethane-related products and sold 868 kT, generating CNY 14bn sales in the sector.
Wanhua filed for 55 invention patents over the period and obtained 12 invention patents and licences. Development of new technologies for TDI, PMMA (poly methyl methacrylate), MMA and other products is in progress.
The company’s control of VOC content in polyols is also at world class level, said the report.
Exchange Rates: Xe.com 7 August, 2017
