Yantai, Shandong – Wanhua Chemical’s revenue in the first three months of 2016 grew by 17% year on year to CNY 5.3bn ($816m), according to its Q1 report released in April.
“The jump in revenue was a result of newly added petrochemical business and LPG trade,” the company told UTECH-polyurethane.com. Operating net cash flow jumped 142% compared with the same period in 2015 to CNY 1.8bn.
Net assets remained stable at CNY 11.6 bn; total asset gained 2.5% compared with 2015 year end to CNY 49bn.
The company’s net profit in Q1 2016 dropped by 6% year on year to CNY 444m, for reasons including the absence of gains from currency exchange that totaled CNY60m in Q1 2015; net profit excluding non-recurring items showed a 7% rise.
XE Currency Conversion: 19 May, 2016