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Lianhe Chemical released drop in net profit: USD37.1 million in H1 2016, down 18.6% YoY

On 26 July, 2016, Lianhe Chemical Technology Co., Ltd. (Lianhe Chemical) released the company’s annual report of H1 2016. In the first half of 2016, the company’s revenue was USD267.4 million, down 7.8% YoY; the net profit attributable to shareholders was USD37.1 million, down 18.6% YoY.

 

Lianhe Chemical to collect USD187.6 million for capacity expansion

On 4 July, 2016, Lianhe Chemical Technology Co., Ltd. (Lianhe Chemical) released a private placement pre-proposal, to raise a fund of USD187.6 million. Specifically, the fund (excluding issuance expenses) is all to be invested into 4 projects (See table below).

 

Lianhe Chemical plans to raise USD222.9 million to invest in pesticide intermediate projects

On 25 Feb., 2016, Lianhe Chemical Technology Co., Ltd. (Lianhe Chemical) published a notice saying that the company plans to invest no more than USD222.9 million through non-public stock release. The fund will be mainly used in four projects, namely the 445t/a pharmaceutical intermediate project, 1,000t/a LH-1 technological reform project, 9,000t/a ammoxidation series product technological reform project and supplement of cash flow.

 

Lianhe Chemical: pesticides still be main income source in 3 years

Jiangsu Lianhe Chemical Technology Co., Ltd. (Lianhe Chemical) released that its pesticide business will still be the major source of revenue in the coming three years at least, as the revenue from this part is supposed to keep growing in the future.