Danhua Technology posts 111 billion yuan in H1 2019 amid slump in MEG prices – ChinaTexnet.com
Home >> Textile News >> Danhua Technology posts 111 billion yuan in H1 2019 amid slump in MEG prices

Danhua Technology posts 111 billion yuan in H1 2019 amid slump in MEG prices

2019-08-16 09:13:52 Cailian Press

Danhua Science and Technology disclosed semi-annual report that the company achieved 517 million yuan in business revenue in the first half of 2019, down 15.26 percent from the same period last year. The company had a loss of 37.651 million yuan from the same period of last year. Due to the sharp decline in MEG market, the company's profitability fell sharply. In the first half of 2019, the average non-tax sales price of the company's oxalic acid products decreased by about 7% year-on-year; the average non-tax price of the main product-MEG fall by about 37.42%, resulting in operating losses.

Tongliao GEM Chemical Co., Ltd., a subsidiary of Danhua Technology, runs a 300kt/year syngas-based MEG plant in Tongliao, Inner Mongolia.

Keywords: