China’s Jiangsu Huachang Chemical 2011 profit rises to $12.7m

29 February 2012 04:27  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Jiangsu Huachang Chemical said on Wednesday its 2011 net profit has increased by more than six times to yuan (CNY) 80.1m ($12.7m) because of the higher prices of its soda ash and fertilizer products.

The company’s sales revenue increased by 26% to CNY4.12bn last year, it said in a statement to the Shenzhen Stock Exchange.

In addition, Jiangsu Huachang Chemical plans to invest up to CNY1.10bn in a coal chemical expansion project, the company said in a separate statement on the same day.

Further details about the project were not available.

($1 = CNY6.30)

By: Adele Zhu

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly