Semi-annual Report Analysis of China Pesticide Listed Enterprises
The China Crop Protection Industry Association had issued the highly anticipated 2014 China's Top 100 Pesticide Manufacturers List in H1 2014. According to the statistics, the output of the Chinese pesticide industry in 2013 maintained a modest growth, with an increase of 1.6%; the total revenue reached USD45.69 billion, with an increase of 19.1%; the total profit reached USD3.73 billion, with a sharp YoY increase of 30.8%. In terms of pesticide import and export, the export value increased by 31.0% and the export volume increased by 22.1%, which far outnumbered the output increase. What’s more, the export price of pesticides showed a rising tendency. The import price of pesticide products increased by 16.8%, and the import volume met a significant increase of 10.6%; cumulative trade surplus in 2013 totaled USD3.05 billion, with a YoY increase of 34.7%. The export volume of pesticide formulations has maintained a rapid growth this year and it exceeded that of the pesticide technicals (TC) in 2013, which further speeded up the building of the Chinese pesticide industry's brand image in the international market.
After about a half year in 2014, could the good situation continue in China? The performance of domestic listed enterprises in H1 2014 could give some signs.
As representatives of pesticide industry in China, domestic listed pesticide enterprises are supposed to be the guides for the development of the whole industry. On the whole, the 21 listed pesticide enterprises in H1 2014 showed a good performance in China's pesticide industry.
Their total revenue and net profit both increased a lot, compared with that of H1 2013. Their total assets reached USD13.83 billion, 11.24% higher than that at the end of 2013. Huapont-Nutrichem ranked the first, with a total asset of USD1.88 billion, 51.55% higher than that at the end of 2013 for its merging issues. Pesticide business contributed much to the performance of these listed pesticide enterprises in H1 2013, so does it in H1 2014. For their R&D cost, their total R&D cost accounted for only 1.99% of their total revenue, but 25.10% higher than that in H1 2013. Merging & Acquisition is still one of the major themes in China's pesticide industry. But pesticide industry in China continues to face complex situation in 2014.
In this report, semi-annual reports of the 21 listed enterprises involved in pesticides or pesticide intermediates were summarized and analyzed. It summarized the ranking of pesticide listed enterprises in the whole, and described the performance of the 21 listed pesticide enterprises through their revenue, net profit and pesticide business in H1 2014 respectively. Their business structure and the revenue from the top five costumers were also analyzed in this report. As their major business, pesticide business was analyzed through the revenue, gross profit margin and growth rate, etc.
After about a half year in 2014, could the good situation continue in China? The performance of domestic listed enterprises in H1 2014 could give some signs.
As representatives of pesticide industry in China, domestic listed pesticide enterprises are supposed to be the guides for the development of the whole industry. On the whole, the 21 listed pesticide enterprises in H1 2014 showed a good performance in China's pesticide industry.
Their total revenue and net profit both increased a lot, compared with that of H1 2013. Their total assets reached USD13.83 billion, 11.24% higher than that at the end of 2013. Huapont-Nutrichem ranked the first, with a total asset of USD1.88 billion, 51.55% higher than that at the end of 2013 for its merging issues. Pesticide business contributed much to the performance of these listed pesticide enterprises in H1 2013, so does it in H1 2014. For their R&D cost, their total R&D cost accounted for only 1.99% of their total revenue, but 25.10% higher than that in H1 2013. Merging & Acquisition is still one of the major themes in China's pesticide industry. But pesticide industry in China continues to face complex situation in 2014.
In this report, semi-annual reports of the 21 listed enterprises involved in pesticides or pesticide intermediates were summarized and analyzed. It summarized the ranking of pesticide listed enterprises in the whole, and described the performance of the 21 listed pesticide enterprises through their revenue, net profit and pesticide business in H1 2014 respectively. Their business structure and the revenue from the top five costumers were also analyzed in this report. As their major business, pesticide business was analyzed through the revenue, gross profit margin and growth rate, etc.
1 OVERVIEW
2 ANALYSIS OF LISTED PESTICIDE ENTERPRISES IN CHINA
2.1 Geographic distribution
2.2 Ranking of pesticide listed enterprises
2.2.1 By revenue
2.2.2 By net profit
2.2.3 By total assets
2.2.4 By revenue and gross profit margin of pesticide business
2.2.5 By R&D investment
3 PERFORMANCE OF PESTICIDE LISTED ENTERPRISES IN H1 2014
3.1 Nanjing Redsun
3.2 Zhejiang Wynca
3.3 Lianhe Chemical
3.4 Hefei Fengle
3.5 Sanonda
3.6 Qianjiang Biochemical
3.7 Noposion
3.8 Jiangsu Changqing
3.9 Jiangsu Huifeng
3.10 ABA Chemicals
3.11 Shandong Shengli
3.12 Huapont-Nutrichem
3.13 Lier Chemical
3.14 Hebei Veyong
3.15 Shenghua Biok
3.16 Nantong Jiangshan
3.17 Zibo Wanchang
3.18 Anhui Huaxing
3.19 Jiangsu Lanfeng
3.20 Jiangsu Yangnong
3.21 Hunan Haili
2 ANALYSIS OF LISTED PESTICIDE ENTERPRISES IN CHINA
2.1 Geographic distribution
2.2 Ranking of pesticide listed enterprises
2.2.1 By revenue
2.2.2 By net profit
2.2.3 By total assets
2.2.4 By revenue and gross profit margin of pesticide business
2.2.5 By R&D investment
3 PERFORMANCE OF PESTICIDE LISTED ENTERPRISES IN H1 2014
3.1 Nanjing Redsun
3.2 Zhejiang Wynca
3.3 Lianhe Chemical
3.4 Hefei Fengle
3.5 Sanonda
3.6 Qianjiang Biochemical
3.7 Noposion
3.8 Jiangsu Changqing
3.9 Jiangsu Huifeng
3.10 ABA Chemicals
3.11 Shandong Shengli
3.12 Huapont-Nutrichem
3.13 Lier Chemical
3.14 Hebei Veyong
3.15 Shenghua Biok
3.16 Nantong Jiangshan
3.17 Zibo Wanchang
3.18 Anhui Huaxing
3.19 Jiangsu Lanfeng
3.20 Jiangsu Yangnong
3.21 Hunan Haili
LIST OF TABLES
Table 2.1-1 List of major listed pesticide enterprises
Table 2.1-2 Number of listed pesticide listed enterprises by provinces/ regions in China, 2014
Table 2.2.1-1 Revenue of 21 listed pesticide enterprises in China, H1 2014
Table 2.2.2-1 Net profit of 21 listed pesticide enterprises in China, H1 2014
Table 2.2.2-2 Operating profit of 21 listed pesticide enterprises in China, H1 2014
Table 2.2.3-1 Total assets of 21 listed pesticide enterprises in China, H1 2014
Table 2.2.4-1 Revenue and gross profit margin of 21 listed pesticides enterprises' pesticides business (including pesticides intermediates), H1 2014
Table 2.2.5-1 R&D investment of 21 listed pesticide enterprises in China, H1 2014
Table 3.1-1 Revenue from the top five customers of Nanjing Redsun, H1 2013 and H1 2014
Table 3.2-1 Revenue from the top five customers of Zhejiang Wynca, H1 2013 and H1 2014
Table 3.3-1 Revenue from the top five customers of Lianhe Chemical, H1 2013 and H1 2014
Table 3.4-1 Revenue from the top five customers of Hefei Fengle, H1 2013 and H1 2014
Table 3.5-1 Revenue and gross profit margin of Sanonda by products, H1 2014
Table 3.5-2 Sales revenue from the top five customers of Sanonda, H1 2013 and H1 2014
Table 3.6-1 Revenue from the top five customers of Qianjiang Biochemical, H1 2013 and H1 2014
Table 3.7-1 Revenue and gross profit margin of Noposion' s major business, H1 2014
Table 3.7-2 Revenue from the top five customers of Noposion, H1 2013 and H1 2014
Table 3.8-1 Revenue and gross profit margin of Jiangsu Changqing by major business, H1 2013 and H1 2014
Table 3.8-2 Revenue from the top five customers of Jiangsu Changqing, H1 2013 and H1 2014
Table 3.9-1 Revenue from the top five customers of Jiangsu Huifeng, H1 2013 and H1 2014
Table 3.9-2 Performance of major business of Jiangsu Huifeng, H1 2014
Table 3.10-1 Revenue from the top five customers of ABA Chemicals, H1 2013 and H1 2014
Table 3.11-1 Revenue from the top five customers of Shandong Shengli, H1 2013 and H1 2014
Table 3.12-1 Main pesticide business of Huapont-Nutrichem, H1 2014
Table 3.12-2 Sales revenue from the top five customers of Huapont-Nutrichem, H1 2013 and H1 2014
Table 3.13-1 Revenue from the top five customers of Lier Chemical, H1 2013 and H1 2014
Table 3.14-1 Revenue and gross profit margin of Hebei Veyong's major products, H1 2014
Table 3.14-2 Revenue from the top five customers of Hebei Veyong, H1 2013 and H1 2014
Table 3.15-1 Revenue from the top five customers of Shenghua Biok, H1 2013 and H1 2014
Table 3.16-1 Revenue and gross profit margin of Nantong Jiangshan's major products, H1 2014
Table 3.16-2 Revenue from the top five customers of Nantong Jiangshan, H1 2013 and H1 2014
Table 3.17-1 Revenue from the top five customers of Zibo Wanchang, H1 2013 and H1 2014
Table 3.18-1 Revenue and gross profit margin of Anhui Huaxing's pesticide business, H1 2014
Table 3.18-2 Revenue from the top five customers of Anhui Huaxing, H1 2013 and H1 2014
Table 3.19-1 Revenue and gross profit margin of Jiangsu Lanfeng's pesticide business, H1 2014
Table 3.19-2 Revenue from the top five customers of Jiangsu Lanfeng, H1 2013 and H1 2014
Table 3.20-1 Revenue and gross profit margin of Jiangsu Yangnong's pesticide business, H1 2014
Table 3.20-2 Revenue from the top five customers of Jiangsu Yangnong, H1 2013 and H1 2014
Table 3.21-1 Revenue from the top five customers of Hunan Haili, H1 2013 and H1 2014
Table 2.1-1 List of major listed pesticide enterprises
Table 2.1-2 Number of listed pesticide listed enterprises by provinces/ regions in China, 2014
Table 2.2.1-1 Revenue of 21 listed pesticide enterprises in China, H1 2014
Table 2.2.2-1 Net profit of 21 listed pesticide enterprises in China, H1 2014
Table 2.2.2-2 Operating profit of 21 listed pesticide enterprises in China, H1 2014
Table 2.2.3-1 Total assets of 21 listed pesticide enterprises in China, H1 2014
Table 2.2.4-1 Revenue and gross profit margin of 21 listed pesticides enterprises' pesticides business (including pesticides intermediates), H1 2014
Table 2.2.5-1 R&D investment of 21 listed pesticide enterprises in China, H1 2014
Table 3.1-1 Revenue from the top five customers of Nanjing Redsun, H1 2013 and H1 2014
Table 3.2-1 Revenue from the top five customers of Zhejiang Wynca, H1 2013 and H1 2014
Table 3.3-1 Revenue from the top five customers of Lianhe Chemical, H1 2013 and H1 2014
Table 3.4-1 Revenue from the top five customers of Hefei Fengle, H1 2013 and H1 2014
Table 3.5-1 Revenue and gross profit margin of Sanonda by products, H1 2014
Table 3.5-2 Sales revenue from the top five customers of Sanonda, H1 2013 and H1 2014
Table 3.6-1 Revenue from the top five customers of Qianjiang Biochemical, H1 2013 and H1 2014
Table 3.7-1 Revenue and gross profit margin of Noposion' s major business, H1 2014
Table 3.7-2 Revenue from the top five customers of Noposion, H1 2013 and H1 2014
Table 3.8-1 Revenue and gross profit margin of Jiangsu Changqing by major business, H1 2013 and H1 2014
Table 3.8-2 Revenue from the top five customers of Jiangsu Changqing, H1 2013 and H1 2014
Table 3.9-1 Revenue from the top five customers of Jiangsu Huifeng, H1 2013 and H1 2014
Table 3.9-2 Performance of major business of Jiangsu Huifeng, H1 2014
Table 3.10-1 Revenue from the top five customers of ABA Chemicals, H1 2013 and H1 2014
Table 3.11-1 Revenue from the top five customers of Shandong Shengli, H1 2013 and H1 2014
Table 3.12-1 Main pesticide business of Huapont-Nutrichem, H1 2014
Table 3.12-2 Sales revenue from the top five customers of Huapont-Nutrichem, H1 2013 and H1 2014
Table 3.13-1 Revenue from the top five customers of Lier Chemical, H1 2013 and H1 2014
Table 3.14-1 Revenue and gross profit margin of Hebei Veyong's major products, H1 2014
Table 3.14-2 Revenue from the top five customers of Hebei Veyong, H1 2013 and H1 2014
Table 3.15-1 Revenue from the top five customers of Shenghua Biok, H1 2013 and H1 2014
Table 3.16-1 Revenue and gross profit margin of Nantong Jiangshan's major products, H1 2014
Table 3.16-2 Revenue from the top five customers of Nantong Jiangshan, H1 2013 and H1 2014
Table 3.17-1 Revenue from the top five customers of Zibo Wanchang, H1 2013 and H1 2014
Table 3.18-1 Revenue and gross profit margin of Anhui Huaxing's pesticide business, H1 2014
Table 3.18-2 Revenue from the top five customers of Anhui Huaxing, H1 2013 and H1 2014
Table 3.19-1 Revenue and gross profit margin of Jiangsu Lanfeng's pesticide business, H1 2014
Table 3.19-2 Revenue from the top five customers of Jiangsu Lanfeng, H1 2013 and H1 2014
Table 3.20-1 Revenue and gross profit margin of Jiangsu Yangnong's pesticide business, H1 2014
Table 3.20-2 Revenue from the top five customers of Jiangsu Yangnong, H1 2013 and H1 2014
Table 3.21-1 Revenue from the top five customers of Hunan Haili, H1 2013 and H1 2014
LIST OF FIGURES
Figure 2.1-1 Geographic distribution of the listed pesticide enterprises in China, 2014
Figure 3.1-1 Revenue and net profit of Nanjing Redsun, H1 2009-H1 2014
Figure 3.1-2 Main business structure of Nanjing Redsun by revenue, H1 2014
Figure 3.2-1 Revenue and net profit of Zhejiang Wynca, H1 2009-H1 2014
Figure 3.2-2 Main business structure of Zhejiang Wynca by revenue, H1 2014
Figure 3.3-1 Revenue and net profit of Lianhe Chemical, H1 2009-H1 2014
Figure 3.3-2 Main business structure of Lianhe Chemical by revenue, H1 2014
Figure 3.4-1 Revenue and net profit of Hefei Fengle, H1 2009-H1 2014
Figure 3.4-2 Main business structure of Hefei Fengle by revenue, H1 2014
Figure 3.5-1 Revenue and net profit of Sanonda, H1 2009-H1 2014
Figure 3.6-1 Revenue and net profit of Qianjiang Biochemical, H1 2009-H1 2014
Figure 3.6-2 Main business structure of Qianjiang Biochemical by revenue, H1 2014
Figure 3.7-1 Revenue and net profit of Noposion, H1 2009-H1 2014
Figure 3.7-2 Main business structure of Noposion by revenue, H1 2014
Figure 3.8-1 Revenue and net profit of Jiangsu Changqing, H1 2009-H1 2014
Figure 3.8-2 Main business structure of Jiangsu Changqing by revenue, H1 2014
Figure 3.9-1 Revenue and net profit of Jiangsu Huifeng, H1 2010-H1 2014
Figure 3.9-2 Main business structure of Jiangsu Huifeng by revenue, H1 2014
Figure 3.10-1 Revenue and net profit of ABA Chemicals, H1 2011-H1 2014
Figure 3.10-2 Main business structure of ABA Chemicals by revenue, H1 2014
Figure 3.11-1 Revenue and net profit of Shandong Shengli, H1 2009-H1 2014
Figure 3.11-2 Main business structure of Shandong Shengli by revenue, H1 2014
Figure 3.12-1 Revenue and net profit of Huapont-Nutrichem, H1 2009-H1 2014
Figure 3.12-2 Main business structure of Huapont-Nutrichem by sales revenue, H1 2014
Figure 3.13-1 Revenue and net profit of Lier Chemical, H1 2009-H1 2014
Figure 3.13-2 Main business structure of Lier Chemical by revenue, H1 2014
Figure 3.14-1 Revenue and net profit of Hebei Veyong, H1 2009-H1 2014
Figure 3.14-2 Main business structure of Hebei Veyong by revenue, H1 2014
Figure 3.15-1 Revenue and net profit of Shenghua Biok, H1 2009-H1 2014
Figure 3.15-2 Main business structure of Shenghua Biok by revenue, H1 2014
Figure 3.16-1 Revenue and net profit of Nantong Jiangshan, H1 2009-H1 2014
Figure 3.16-2 Main business structure of Nantong Jiangshan by revenue, H1 2014
Figure 3.17-1 Revenue and net profit of Zibo Wanchang, H1 2010-H1 2014
Figure 3.17-2 Main business structure of Zibo Wanchang by revenue, H1 2014
Figure 3.18-1 Revenue and net profit of Anhui Huaxing, H1 2009-H1 2014
Figure 3.18-2 Main business structure of Anhui Huaxing by revenue, H1 2014
Figure 3.19-1 Revenue and net profit of Jiangsu Lanfeng, H1 2010-H1 2014
Figure 3.19-2 Main business structure of Jiangsu Lanfeng by revenue, H1 2014
Figure 3.20-1 Revenue and net profit of Jiangsu Yangnong, H1 2009-H1 2014
Figure 3.20-2 Main business structure of Jiangsu Yangnong by revenue, H1 2014
Figure 3.21-1 Revenue and net profit of Hunan Haili, H1 2009-H1 2014
Figure 3.21-2 Main business structure of Hunan Haili by revenue, H1 2014
Figure 2.1-1 Geographic distribution of the listed pesticide enterprises in China, 2014
Figure 3.1-1 Revenue and net profit of Nanjing Redsun, H1 2009-H1 2014
Figure 3.1-2 Main business structure of Nanjing Redsun by revenue, H1 2014
Figure 3.2-1 Revenue and net profit of Zhejiang Wynca, H1 2009-H1 2014
Figure 3.2-2 Main business structure of Zhejiang Wynca by revenue, H1 2014
Figure 3.3-1 Revenue and net profit of Lianhe Chemical, H1 2009-H1 2014
Figure 3.3-2 Main business structure of Lianhe Chemical by revenue, H1 2014
Figure 3.4-1 Revenue and net profit of Hefei Fengle, H1 2009-H1 2014
Figure 3.4-2 Main business structure of Hefei Fengle by revenue, H1 2014
Figure 3.5-1 Revenue and net profit of Sanonda, H1 2009-H1 2014
Figure 3.6-1 Revenue and net profit of Qianjiang Biochemical, H1 2009-H1 2014
Figure 3.6-2 Main business structure of Qianjiang Biochemical by revenue, H1 2014
Figure 3.7-1 Revenue and net profit of Noposion, H1 2009-H1 2014
Figure 3.7-2 Main business structure of Noposion by revenue, H1 2014
Figure 3.8-1 Revenue and net profit of Jiangsu Changqing, H1 2009-H1 2014
Figure 3.8-2 Main business structure of Jiangsu Changqing by revenue, H1 2014
Figure 3.9-1 Revenue and net profit of Jiangsu Huifeng, H1 2010-H1 2014
Figure 3.9-2 Main business structure of Jiangsu Huifeng by revenue, H1 2014
Figure 3.10-1 Revenue and net profit of ABA Chemicals, H1 2011-H1 2014
Figure 3.10-2 Main business structure of ABA Chemicals by revenue, H1 2014
Figure 3.11-1 Revenue and net profit of Shandong Shengli, H1 2009-H1 2014
Figure 3.11-2 Main business structure of Shandong Shengli by revenue, H1 2014
Figure 3.12-1 Revenue and net profit of Huapont-Nutrichem, H1 2009-H1 2014
Figure 3.12-2 Main business structure of Huapont-Nutrichem by sales revenue, H1 2014
Figure 3.13-1 Revenue and net profit of Lier Chemical, H1 2009-H1 2014
Figure 3.13-2 Main business structure of Lier Chemical by revenue, H1 2014
Figure 3.14-1 Revenue and net profit of Hebei Veyong, H1 2009-H1 2014
Figure 3.14-2 Main business structure of Hebei Veyong by revenue, H1 2014
Figure 3.15-1 Revenue and net profit of Shenghua Biok, H1 2009-H1 2014
Figure 3.15-2 Main business structure of Shenghua Biok by revenue, H1 2014
Figure 3.16-1 Revenue and net profit of Nantong Jiangshan, H1 2009-H1 2014
Figure 3.16-2 Main business structure of Nantong Jiangshan by revenue, H1 2014
Figure 3.17-1 Revenue and net profit of Zibo Wanchang, H1 2010-H1 2014
Figure 3.17-2 Main business structure of Zibo Wanchang by revenue, H1 2014
Figure 3.18-1 Revenue and net profit of Anhui Huaxing, H1 2009-H1 2014
Figure 3.18-2 Main business structure of Anhui Huaxing by revenue, H1 2014
Figure 3.19-1 Revenue and net profit of Jiangsu Lanfeng, H1 2010-H1 2014
Figure 3.19-2 Main business structure of Jiangsu Lanfeng by revenue, H1 2014
Figure 3.20-1 Revenue and net profit of Jiangsu Yangnong, H1 2009-H1 2014
Figure 3.20-2 Main business structure of Jiangsu Yangnong by revenue, H1 2014
Figure 3.21-1 Revenue and net profit of Hunan Haili, H1 2009-H1 2014
Figure 3.21-2 Main business structure of Hunan Haili by revenue, H1 2014
