China's Shandong Liaherd Chemical posts $1.9m net loss in 2012

27 February 2013 07:01  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Shandong Liaherd Chemical Industry posted a net loss of yuan (CNY) 11.7m ($1.9m) in 2012, swinging from a net profit of CNY108.5m a year earlier, as prices of its major products slumped, the company said on Wednesday.

Its total revenue was at CNY1.2bn in 2012, down by 13.5% from a year earlier, the company said in a statement to the Shenzhen Stock Exchange.

Falling prices of ammonium nitrate (AN) and melamine were the key factors that led to the net loss, coupled with cost pressure as feedstock prices did not show a downtrend, the company said.

Furthermore, its wholly-owned subsidiary Shandong Xintai Liaherd Chemical made a loss of CNY27.5m in 2012, which gave a negative impact on its annual report, the company added.

The company largely focuses on melamine, urea and methanol production.

($1 = CNY6.23)

By: Viola Pan
+65 6780 4359

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