Yantai, Shandong – Wanhua posted CNY107bn ($17bn) revenue over the first nine months in 2021, up 118% from a year ago. This shows significant growth from the same period in 2019. Then, the company recorded CNY49bn revenue.
The company’s net profit during the nine months in 2021 surged 265% year-on-year to CNY20bn, according to its quarterly report released in October. Net profit less non-recurring items was CNY19bn, up 288% from the same period in 2020.
Total assets as of the end of Q3 jumped 36% from a year ago to CNY181bn. Net assets also shot up by 31%, to CNY64bn.
Over the first nine months, the company produced 3,000kT MDI and other polyurethane-related products and sold 2,900kT, generating CNY44bn sales. This compares to 1,968kT production and 2,003kT sales at CNY22bn during the same period in 2020.
Prices of monomeric MDI and polymeric MDI also rose sharply year on year, up 32% and 21% respectively from the end of Q3 2020.