Cangzhou, Hebei – Cangzhou Dahua released its 2014 half-year results in August, reporting a 6% drop in revenue to RMB1.7bn ($276m) with an RMB40.8m net loss. This is mainly caused by stagnant downstream demand, said the half-year report.
Dahua has taken countermeasures to increase direct sales and further promote its products to mid and high-end markets. The first half-year has seen a rise in the company’s market share, according to the report.
A majority of Dahua’s TDI is sold to north and east China, the report said. During the period Dahua produced 79kT of TDI, which completed 52.1% of its annual TDI production plan and accounted for 71% of its total revenue. Gross margin for the company’s TDI business went down by 6% to 13%.
XE Currency Conversion: 10 September, 2014.