Longxing Chemicals keeps net growth in H1' 2018

Longxing Chemical released its first half year performance on August 10.

The company said it kept income and profit growth with carbon sale volume declining in the past six months.

Statistics showed that the compay sold 203,700 tons of carbon black in the first six months of 2018, year-on-year decreasing 8.65% compared to the same period of 2017. However, the company realized 1.367 billion yuan of carbon black sales income, yearly increasing 20.48%, and sold 10500 tons of white carbon black at the same time, yearly decreasing 22.22% , but posting 50,741,200 yuan of sales income, yearly rising by 1.63%.

In the fisrt half year, the company annouced 1.464 billion yuan of sales revenue, yearly rising by 16.26%, and 63,231,900 yuan of  net profit, yearly increasing 55.6%. 

To be noticed, Longxing Chemical's sale resources changed. Sales in domestic market dereased from 2017's 90.61% to 2018's 80.10%, and sales in oversea market increased from 2017's 9.39% to 2018's 19.90%.

The company said with international market changing, the company also adjusted its sales struction, and increased its export.

Besides, Longxing Chemical also increased its research and development, with 32,343,100 yuan of ivestment.