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Yanggu Huatai's net declines in H1' 2020

On July 25, China's famous chemical acid manufacturers Shandong Yanggu Huatai Chemicals Co.,LTD. released its first-half year report of 2020. 

The company said suffered from COVID-2019 and worsen market environment, the company's production sales and price yearly decreasing, which resulted in sales revenue and net profit largely declining.

Statistics showed that Yanggu Huatai Chemicals realized 825 million yuan of sales revenue, yearly down by 18.2%, and 2.6 million yuan of net profit belonging to shareholders, yearly jumping 71.69%.

The company said that it did great effort on developing market and constructing new projects in the first half year of 2020, and also built up international inventory construction and sales channel overseas, which set up a wholly-controlled subsidiary in Belgium to promote its sales in European market.

Besides, Yanggu Huatai Chemicals put its 20,000 tons/year of insoluble sulfur by continuous process into operation in the first half year of 2020, and another 90,000 tons/year of insoluble sulfur by continuous process came into construction at the same time.