Yihua in Hubei is expected to record a net profit of 580 million yuan to 650 million yuan for the first quarter

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Hubei Yihua’s net profit for the first quarter is expected to be between 580 million yuan and 650 million yuan. Author/Source: Yihua Group. Date: April 10, 2022. Clicks: 18. On April 9, Hubei Yihua Chemical Co., Ltd. released a profit forecast, indicating that its net profit attributable to shareholders of the listed company for the first quarter of 2022 is expected to be between 580 million yuan and 650 million yuan, representing a year-on-year increase of 173.17% to 206.14%. During the reporting period, the prices of key products increased significantly on a year-on-year basis; the prices of fertilizer products such as urea and diammonium phosphate, as well as chemical products such as PVC and caustic soda, remained at high levels. The company seizes favorable market conditions actively, optimizes its procurement and sales channels, and continuously strengthens management and coordination to ensure the efficient operation of its facilities; by leveraging its industrial advantages, it sees a steady increase in its profitability. During the reporting period, the company continued to strengthen its basic chemical industry chain, while also making significant efforts to promote industrial transformation and upgrading. The Bompu Yihua project was launched, covering projects such as iron phosphate precursors, nickel sulfate, sulfuric acid, wet-process phosphoric acid, and refined phosphoric acid. The construction of a plant with an annual production capacity of 60,000 tons of biodegradable new material (PBAT) is in full swing, and it is expected to be completed and put into operation by the end of the year.