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Lier Chemical: 2021 revenue and net profit set new high records

 

In early March 2022, Lier Chemical Co., Ltd. (Lier Chemical) was the first to release the 2021 annual report. During the reporting period, the company achieved an annual revenue of USD1,019.5 million, up by 30.7% year on year, and a net profit of USD168.3 million with a YoY increase of 75.2%, both of which have set a new high record for the company.


Table : Financial performance of Lier Chemical, 2020, 2021 (million USD)

Index

2021

2020

YoY change

Revenue

1,019.5

780.0

30.7%

Cost of sales

811.2

662.5

22.5%

Net profit

168.3

96.1

75.2%

Distribution expenses

12.6

19.5

-35.7%

Administrative expenses

47.1

35.8

31.4%

Financial expenses

15.4

20.3

-23.9%

R&D investment

38.8

29.5

31.4%

-

Closing balance

Opening balance

YoY change

Total assets

1,606.3

1,328.6

20.9%

Debts

691.9

589.3

17.4%

  

Lier Chemical is the largest manufacturer of Chloropyridine herbicides as well as Glufosinate-Ammonium in China. The company's products are exported to more than 30 countries and regions such as the United States, Brazil, Argentina, and Australia. Its main customers, such as Corteva, BASF, Syngenta, Nufarm, and UPL, are all top international agrochemical companies in the industry.

 

In 2021, Lier Chemical has mainly made the following efforts:

1. It has been continuously optimizing its Methyldichlorophosphine project in Guang’an Base by improving the reliability and stability of the production equipment. Besides, by upgrading the production technique of Glufosinate-Ammonium and Flumioxazin, it has realized stable large-scale production, greatly increasing its production capacity as well as competitiveness in the market.

2. It has completed market layout at a fast speed for its core products by seizing market opportunities ahead of its competitors and continuously enhancing the breadth and depth of cooperation with major customers.

3. It has strengthened the R&D of production techniques for new products.

4. After promoting the compliance rectification in each production base, it has made significant improvements in the management of environmental protection and safety production.


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