July 22 -- Wuxi Baichuan Chemical Industry (002455) posted a 7.92-percent year-on-year drop in net profit to 30.27 million yuan in the first half of 2011, with earnings per share (EPS) of 0.23 yuan, reports p5w.net, citing a company filing. The company blamed the profit slump to fluctuations in raw material prices during that accounting period, and the company could not adjust prices for its large customers in the short run.

Baichuan Chemical produces butyl acetate and trimellitic anhydride.