Fri Aug 23, 2019 01:38
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China BlueChem (03983) expects decline of profit
22 Jul 2019
(Infocast News) China BlueChemical (03983) expects "a net profit attributable to owners of the Company approximately from RMB535 million to RMB565 million for the period ended 30 June 2019 as compared to a net profit attributable to owners of the Company of approximately RMB752 million for the period ended 30 June 2018."

The principal factor contributing to the decrease in the expected net profit is decrease in methanol price.

The group's Line C of CNOOC Tianye polyformaldehyde plant, located in Hohhot, Inner Mongolia of the PRC, with a designed production capacity of 20,000 tons per annum, has resumed operation. The plant is currently under stable operation after a period of trial running, and the sales of relevant products are expected to be launched in the second half of this year.

(WL)
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