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Huayi Group's net dove 70% in 2019

On January 7, Shanghai Huayi Group released 2019 annual performance forecast.

The company said its net profit year-on-year reduced 1.157 billion yuan to 1.257 billion yuan of net profit belonging to shareholders, diving 64.03% to 69.56% compared to the same period of 2018.  And the net profit after extraordinary gains and losses were predicted to decrease 1.296 billion yuan to 1.396 billion yuan, jumping 77.33% to 83.29%.

The company said suffered from worsen Chinese chemical market, its main production such as methanol, acetic acid price largely decreased in 2019, which resulted its net profit down either.