SinoChem International has released the annual report for 2015.
According to the report, SinoChem’s business revenue declined 2.66% to 43.7 billion yuan; the net profit attributable to the shareholders plummeted 57.69% to 480 million yuan; and the earnings per share was 0.23 yuan, slightly lower than expected.
The company’s impairment provision was 695 million yuan, including a 540-million-yuan decrease in inventory prices, which is the primary reason for the lower-than-expected performance.
Among all business units, the rubber chemicals business of Jiangsu Sinorgchem Technology, in which SinoChem International holds nearly 61% stake, contributed 340 million yuan in net profit.
Main businesses of SinoChem International had been stable in 2015 and the company maintained its international leadership in a number of sub-sectors, such as pesticide, chemical intermediates, rubber additive, natural rubber, and chemical logistics.
SinoChem International expects to focus on fine chemical in the following decade and to construct a fine chemical industry group through M&A, joint stock, and independent R&D.
The company also aims to accelerate industrial integration, reinforce its leadership in global rubber industry and to offer comprehensive solutions to the world’s high-end tire manufacturers.
In the field of fine chemical, SinoChem International expects to establish three fine chemical industry clusters in advanced chemical materials, special-purpose chemicals and agro-chemical sectors.
In the rubber field, the company plans to increase the size of its rubber business unit through M&A and reshuffle, and to develop environmentally friendly rubber chemicals and non-conventional synthetic rubber.
