‘The company’s main products, TDI and sodium hydroxide, saw their prices rise significantly year on year. Our company seized the opportunity and timely adjusted our sales strategy,’ said its performance statement in late January.
Net profit excluding non-recurring elements will range from CNY 1.25bn to CNY 1.28bn. This would be up by at least 252% compared with 2016, the company added.
The Shanghai-listed firm is 48% owned by parent firm Cangzhou Dahua Group. This, in turn, is 51% owned by state-owned ChemChina. A further 49% is owned by Cangzhou’s municipal State-owned Assets Supervision and Administration Commission.
In December 2017 Dahua announced ChemChina wanted to sell its 51% stake in the parent group through public listing on the China Beijing Equity Exchange.
Currency Conversion: Xe.com