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Huasheng Plastic turned into red

Nantong Huasheng Plastic Products Co. Ltd.(NHPP) released its half year report of 2020.

The report said that the company's net has turned into red, due to rubber acid demand from tire industry reducing in the first half year of 2020.

Statistics showed that Huasheng Plastic realized 59,935,700 yuan of sales revenue in the first six months, yearly decreasing 26.92% compared to the same period of 2019, and posted 313,700 yuan of net deficit belonging to shareholders.

By the end of June,2020, the company's total assets declined 2.53% to 270 million yuan compared to the end of 2019. 

Compared to the same period of 2019, NHPP's sale profit and net profit respectively declined 108.36% and 20.51%.

The company said that suffered from COVID-2019, operation ratio of tire industry was far behind 100%, which led rubber acid demand narrowed and Huasheng's production order yearly declined.

Located in Tongzhou District of Nantong City,Nantong Huasheng Plastic Products Co. Ltd.(NHPP) specializes in research and manufacturing of plastic film products. With over 70 film extrusion lines and a team of experienced research and production staff, NHPP mainly produces conventional and compostable shopping bags, trash can-liners, side-sealed bags, garment and shoe bags, mulch film, industrial packaging film etc. 

NHPP is certified in ISO9001:2015,ISO14001:2015, ISO45001:2018、HACCP, and for biodegradable and compostable products, IV Star Bio-carbon Footprint,ASTM DN6400, EN13432 for both its compostable resins and film products.