Yantai, Shandong – Wanhua Chemical released its 2015 nine-month results in October, reporting a 17% year-on-year drop in revenue to RMB14.8bn ($2.3bn), with a 32% decrease of net profit to RMB1.4bn.
The third quarter alone saw a 23% year-on-year drop of revenue to RMB4.7bn. Net profit slumped by 40% to RMB417m. Its investment in projects under construction during this period reached RMB15.7bn, up by 34% compared to the same period in 2014, a majority of which pumped into its Yantai Industrial Park project.
The company also announced in October it is planning to issue short-term financing bonds amounting to no more than RMB2.5bn.
XE Currency Conversion: 28 October, 2015