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Weifang Rainbow is listed on China’s A-share market

Shandong Weifang Rainbow Chemical Co., Ltd (Weifang Rainbow) was listed on growth enterprise market of Shenzhen Stock Exchange with total funds raised of USD235.0 million on 28 July, 2021.


Weifang Rainbow ranked third in sales amount of pesticide, and first in export of pesticide in China in 2019. It increased to 11th in 2019 from 13th in 2017 in global pesticide list. Weifang Rainbow’s IPO will be of great help to increase its market share and global competitiveness.

 

As one of the leading enterprises in domestic pesticide industry, Weifang Rainbow ranked 3rd, 4th, and 3rd in China’s pesticide industry in 2017, 2018 and 2019 respectively, according to statistics from China Crop Protection Industry Association.


As a professional agrochemical company focusing on international markets, Weifang Rainbow ranks top in terms of its export amount of pesticide in China. It was awarded as “China’s top 20 pesticide exporters” by Organizing Committee of China International Agrochemicals and Plant Protection Exhibition as it ranked first in the assessment in 2017, 2018 and 2019.


Table 1: Weifang Rainbow’s main financial indicators from 2018 to 2020 (unit: million USD)

Index

2020

2019

2018

Revenue

1,125.6

937.8

834.1

Net profit

67.6

52.4

47.9

Distribution expenses

27.3

39.9

30.6

Administrative expenses

33.1

33.6

30.2

Financial expenses

35.7

-1.6

0.0

R&D investment

35.1

29.6

23.1

-

As of end of 2020

As of end of 2019

As of end of 2018

Total assets

1,126.2

815.3

752.2

Debts

674.2

421.1

407.2

      Source: Weifang Rainbow

 


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