Hainan rubber net down by 42.5% in 2019
On April 15, Hainan Rubber released its annual report of 2019.
The report showed that the company realized 13.8 billion yuan of sales revenue in 2019, year-on-year increasing 4.6% compared to the same period of 2018, but 135 million yuan of net profit, yearly diving 42.5%.
The company said there were 114,000 tons of dry natural rubber in 2019, yearly up by 2.05%, and 260,000 tons of natural rubber processed at the same time. Amongst, there were 134,000 tons of concentrated emulsion, yearly increasing 20.8%.
The company contributed its net decline to natural rubber keeping at low price and weakness demand.
The company also predicted that with COVID-19 attacking global economy, natural rubber price would slowing rebound in the second half year of 2020, and reaching relatively high level.
In that case, the company expected to realize 15 billion yuan of sales revenue in 2020, and produce over 110,000 tons of dry natural rubber. AT the same time, the company plans to process 300,000 tons of natural rubber and sell over 1.2 million tons.
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