Phenol/Bisphenol A raw material prices plummeted, Wansheng shares in the first three quarters of profit increased by 64%

On the 28th, Wansheng Shares announced its results for the first three quarters of 2020: from January to September, the Company achieved operating income of RMB1.55 billion, an increase of 9.44% YoY, and net profit attributable to shareholders of listed companies was RMB230 million, up 63.62% YoY.
shares are mainly engaged in the production, research and development and sales of functional fine chemicals, for the world's most important phosphorus flame retardant production, suppliers. At present, Zhejiang Linhai Duqiao Medical Park, the state-level Taixing Economic Development Zone 2 production bases, Linhai headquarters, Shanghai Zhangjiang, Jiangsu Taixing 3 research and development centers, including flame retardants, amine additives, catalysts and coating additives 4 major product division .
amide additives and catalysts business unit is mainly engaged in the production and sale of special fatty amines and polyurethane catalyst-related products, on behalf of products have fatty shamide, can be used in personal care, electronic chemicals, water treatment and coating aids, such as adipamide and pyridoxine mainly used in agricultural fungicides and rubber additives, etc. , fatty burramine is mainly used in industrial fungicides, pharmaceutical intermediates and so on.
coating additives division's main products include cashew phenol curing agents, thinners and polyamide curing agents and other products, products are mainly used in ship anti-corrosion, steel structure bridge corrosion, petroleum and petrochemical anti-corrosion, marine engineering anti-corrosion, wind power anti-corrosion and other anti-corrosion coatings and floor coatings. The main customers include Haihong old people, Xuanwei, Libang, fish children and other domestic and foreign industrial epoxy coating companies.
In the first three quarters of 2020, Wansheng AG's main products are flame retardants and amine additives and catalysts, with output of 656,000 tons and 164,000 tons, respectively, and the trial production of paint additives began in September 2019, so production and sales are still relatively small, the project is "Wansheng shares Duqiao Medical Park annual output of 40,000 tons of cashew phenol products project", is currently in the rapid production capacity phase.
Table 1. Production and sales of Wansheng shares in the first three quarters
Table 2. Prices of Wansheng shares
amine additives and catalysts, the average selling price in the first three quarters of 2020 decreased by 16.95 YoY, mainly due to the sharp decline in raw material prices, products with raw material prices adjusted accordingly. The biggest drop in raw material prices was in phenol, which was 29.46 per cent, and BPA, the main raw material, which led to a decline in BPA prices.
3. The price of raw materials for Wansheng shares