Chenhua s net profit in the first quarter of 2023 is expected to be 14.46-18.59 million a year-on-year decrease of 55%-65%

Chenhua Co., Ltd. recently released a performance forecast for the first quarter of 2023. It is expected that in the first quarter of 2023, the net profit attributable to the owners of the parent company will be 14.46 million to 18.59 million Yuan, a year-on-year decrease of 55%-65%.

According to the announcement, it is estimated that the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses in the first quarter of 2023 will be 8.66 million to 12.79 million yuan, a year-on-year decrease of 67.32% to 77.87%.

During the reporting period, affected by the sluggish economic situation at home and abroad and the intensified competition in the industry, the selling prices and gross profit margins of the company’s polyetheramines, flame retardants and other products were lower than those of the same period last year. Net profit also decreased correspondingly compared with the same period last year.

It is estimated that the impact of non-recurring gains and losses on the company’s net profit in the reporting period is about 5.8 million yuan.

According to the data, the company’s main products are new materials that improve the surface properties of materials, flame retardant properties, softening properties, rheological properties, etc. The main products are polyether modified silicone oil, polyether, polyetheramine, alkyl Combustion agent, silicone rubber and other products, end customers are widely distributed in polyurethane, textile, printing and dyeing, daily chemical, pesticide, railway, fire protection, wind power, photovoltaic, oil shale gas exploitation, electronics, automobile, cable, construction installation and other fields. The main customers of the company’s surfactants are pesticides, coatings, wind power blades, silicone oil and textile printing and dyeing manufacturers, the main customers of flame retardants are polyurethane manufacturers, and the main customers of silicone rubber are electronics, electrical, wire and cable, construction, and photovoltaic related companies.