Shandong Haihua Posts 915% Surge In H1 Earnings


Thursday 2011-08-18  15:04 Publisher: CapitalVue
August 18 – Shandong Haihua (000822.SZ) posted 915-percent growth in interim net profits to 203 million yuan, reports, citing a company filing. Sales revenues rose 20.63 percent to 3.95 billion yuan. Earnings per share hit 0.23 yuan, up 1050 percent. All percentage changes cited in this article are year-on-year unless stated otherwise.

Calcined soda generated revenues of 1.86 billion yuan, an increase of 39.03 percent, with a gross profit margin of 19.08 percent. Polyvinyl chloride and sodium hydroxide cashed in 590 million yuan in revenues with a gross profit margin of 9.49 percent, up 6.56 percent.

Shandong Haihua's operating profits and total profits surged 539 percent and 422 percent as the selling prices of calcined soda jumped from same the period a year ago.

In July, the average price of sodium hydroxide hit 3,100 yuan per ton, up 80 yuan per ton from June, or 47.6 percent.

Calcined soda prices rose 39.9 percent to 2,210 yuan per ton. The Weifang-based firm reduced the output of calcined soda in the June and July periods, a period conventionally used to check equipment.



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