China's Yantai Wanhua H1 net profit falls 1.5% year on year

21 August 2012 07:18  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Yantai Wanhua Polyurethanes has posted a 1.5% year-on-year decline in its first-half 2012 net profit to yuan (CNY) 984m ($155m) because of falling domestic polyurethane products prices, the company said on Tuesday.

Its revenue for the first six months of the year increased by 4.1% year on year to CNY7.2bn, while its operating profit for the period was down by 3.9% to CNY1.4bn, the comapny said  in its semi-annual report to the Shanghai Stock Exchange.

Yantai Wanhua Polyurethanes is a key methylene di-p-phenylene isocyanate (MDI) manufacturer in China, and is headquartered at Yantai city in Shangdong province.

The company specialises in the research, production and sales of MDI and related products such as modified MDI, polyether polyurethane rigid foam, aromatic polyamine, and thermoplastic polyurethane (TPUs).

($1 = CNY 6.36)

By: Viola Pan
+65 6780 4359

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