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Jiangsu Lanfeng Biochemical Co., Ltd. (Jiangsu Lanfeng) made an announcement to revise the prediction on the full-year 2018 financial figures, “The net loss would reach USD88.9-133.4 million in 2018,” said the announcement. This prediction is a result of the preliminary estimate of the financial department of Jiangsu Lanfeng and has not yet been audited by the certified public accountant.
According to the 2017 semi-annual financial report released by Jiangsu Lanfeng Bio-chemical Co., Ltd. (Jiangsu Lanfeng), the company made revenue of USD127.6 million, up by 25.2% year on year, and net profit of USD9.1 million, down by 5.2% year on year.
Recently, Jiangsu Lanfeng Biochemical Co., Ltd. (Jiangsu Lanfeng) published its 2016 annual report, according to which the company’s revenue was USD211.3 million, increasing by 44.2% year on year; its net profit reached USD15.5 million, turning loss into gain (it lost USD10.0 million in 2015).
In light of the H1 2015 report of Jiangsu Lanfeng Biochemical Co., Ltd. (Jiangsu Lanfeng), the company got a revenue of USD94.0 million, which declined by 15.8% year on year; its net profit was –USD1.5 million in the period while it profited in the same period last year.
On 1 July, 2015, Jiangsu Jiangsu Lanfeng Co., Ltd. (Jiangsu Lanfeng) officially released its legal opinion letter for purchasing 100% shares of Shaanxi Fangzhou Pharmaceutical Co., Ltd. (Fangzhou Pharmaceutical) by issuing stocks to its shareholders and cash.
On 14 April, 2015, Jiangsu Lanfeng Biochemical Co., Ltd. (Jiangsu Lanfeng) released the 2014 full-year financial report:
l Revenue: USD203.5 million, down by 8.7% YoY
l Net profit: -USD6.1 million
According to the Q3 2014 financial reports released by 18 Chinese pesticide enterprises, altogether 17 enterprises made profits and only Jiangsu Lanfeng Bio-Chemical Co., Ltd. suffered losses. Specifically, Hebei Veyong Bio-Chemical Co., Ltd. (Veyong Bio-Chemical) made the biggest net profit in the first three quarters, reaching USD87.8 million.