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Sichuan Meifeng's 2018 net profit increased by 41% year-on-year.

April 15, 2019 22:53

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On the evening of April 15th,Sichuan Meifeng(000731) Released the 2018 annual report. Company realization in 2018Operating income2.64 billion yuan, an increase of 4.43% year-on-year; realized attributable to listed companiesshareholderofNet profit2.2 billion yuan, an increase of 41.13%; basic earnings per share of 0.37 yuan. The company plans to send cash of 1.5 yuan (including tax) for every 10 shares.

Sichuan Meifeng's main business is the manufacture and sale of chemical products such as urea, compound fertilizer, nitrogen oxide reducing agent, melamine, nitric acid, ammonium nitrate, packaging plastic products and LNG (liquefied natural gas).

The annual report shows that in the fertilizer business, during the reporting period, the company produced 392,700 tons of urea, 272,800 tons of compound fertilizer, 316,800 tons of self-produced urea and 278,000 tons of compound fertilizer.

In the vehicle urea business, during the reporting period, the company produced 71,600 tons of urea for vehicles and sold 81,900 tons. Sichuan Meifeng Jialan Environmental Protection Technology Co., Ltd., a wholly-owned subsidiary of the company, continued to expand its market, focusing on the development of high-quality large-scale group customers, and signed a strategic cooperation agreement with Sinopec Lubricants Co., Ltd. to jointly promote the development of automotive urea. And extensive use to enhance the company's competitiveness in the environmental sector.

In other chemical products business, the company currently has melamine production capacity of 50,000 tons/year, dilute nitric acid of 180,000 tons/year, ammonium nitrate of 225,000 tons/year, and packaging plastic products of 9000 tons/year. During the reporting period, the company produced 51,600 tons of melamine and sold 52,500 tons of nitrocellulose; produced 250,400 tons of liquid ammonium nitrate, sold 165,000 tons of ammonium nitrate products (available for sale), and produced 0.86 million tons of packaging plastic products, selling 0.95 million tons. .

In the LNG business, the company currently has a LNG production capacity of 1 million cubic meters of natural gas per day. During the reporting period, the company produced 109,400 tons of LNG and sold 105,700 tons.

In the 2019 business plan, the company stated that its main business income and profit target for 2019 was: operating income of more than 2.5 billion yuan; basic profit target of 80 million yuan, and profit target of 120 million yuan, maintaining a good level in the same industry.

(Article source: China Securities Journal)

                (Editor: DF395)

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