ChinaRealNews

Hangzhou Zhencheng Pharmaceutical reports significant growth in results

2009-05-25 Hangzhou

Hangzhou Zhencheng Pharmaceutical delivered sales revenue of RMB420 million (approx US$61.5 million) in 2008, up 100 percent from a year earlier. Profits before taxes increased 220 percent from a year earlier during the same period. Net profit rocketed 920 percent during the same period. The company saw a year-over-year increase of 67 percent in sales revenue for the first quarter of 2009. The significant increases in results were mainly attributable to the electronic commerce business mode.

Shandong Yinguang Chemical Industry Group reports strong sales revenue for Q1 2009

2009-05-15 Jinan

Shandong Yinguang Chemical Industry Group, a leading civil explosive materials provider in China, reported sales revenue of RMB350 million (approx. US$51.3 million) in the first quarter of 2009, thanks to mergers and acquisitions and reorganizations. With assets totaling RMB1.2 billion (approx. US$176 million million), the company has a total of 30 subsidiaries.

US-based Dow Chemical sets up logistics center in Tianjin, Chin

2009-05-13 Tianjin

The US-based Dow Chemical Company, a leader in science and technology, plans to invest US$200 million to build a logistics center in Tianjin, China. Government officials of the city said that the government appreciates Dow Chemical’s investment in the city as the company is an international well-known chemical group with advanced technology and advantages in management and talent. The government will continue to support the development of Dow Chemical in Tianjin by creating a better environment and providing the best services for the company.

Dalian Petrochemical achieves record profits in the first four months

2009-05-13 Shenyang

Dalian Petrochemical Co., a subsidiary of China National Petroleum Corporation (CNPC), posted profits of RMB570 million (approx. US$84 million) for the first four months of the year, hitting an all-time high since its inception, thanks to its insistence to details management and optimized production despite market pressure brought about by the worldwide financial crisis. The company paid taxes of RMB2.8 billion (approx. US$412 million) during the period, an increase of over 2.2 billion (approx. US$323 million) from the same period of the prior year.

China’s Hebei province realizes sound performance in pharmaceutical industry for Q1 2009

2009-05-08 Shijiazhuang

According to Hebei Provincial Pharmaceutical Industry Association, China’s Hebei province achieved an added value of RMB2.3 billion (US$337 million) in the pharmaceutical sector during the first quarter 2009, an increase of 2.5% from Q1 2008. For the quarter, the province’s pharmaceutical industry realized a profit of RMB867 million (US$127 million), up 25.8% over the year-earlier period and a year-on-year rise of 8.8% in exports to RMB1.6 billion (US$235 million). Sales from new pharmaceutical products reached RMB627million (US$92 million), a rise of 3.6% year-on-year. The growth in the province’s pharmaceutical industry reflects an upturn in March 2009, following a continuous decline in the first two months of this year.

Shenyang Chemical Industry records huge loss in 4Q 2008

2009-04-20 Shenyang

Shenyang Chemical Industry, a leading chemical manufacturer based in northeast China's Liaoning province, recently reported a loss of RMB9.7 million (US$1.42 million) for the forth quarter of 2008, based on sales of RMB1,318 million (US$193 million). The loss was attributable to the significant decrease in the prices of paste resin and acrylic ester. Net profit for the whole year was down 37.7 percent to RMB9.6 million (US$1.41 million), in line with the company's guidance.

Liaoyang Petrochemical Company takes powerful measures to address global financial crisis

2009-03-31 Shenyang

Liaoyang Petrochemical Company is taking three powerful measures as smooth device operation, product structure optimization and key project establishment, to address challenges posed by the global financial crisis. In addition, the company is flexibly adjusting its marketing strategies according to its products’ different needs, achieving its target of full production and distribution.

China's rubber sector sees significant decrease in profits in 2008

2009-3-23 Beijing

The 346 member enterprises of the China Rubber Industry Association posted a combined profit of RMB4,038 million (US$591 million) for 2008, down 43.3 percent from a year earlier. Sales were up 23.6 percent to RMB192 billion (US$ 28 billion). Consumption of raw rubber was 3.3 million tones, up 13 percent, down 10 percentage points from a year earlier

China’s petrochemical industry sees 17% decline in gross output value

2009-03-17 Beijing

China’s petrochemical industry posted a year-on-year decline of 17 percent in gross output value during the first two months of 2009, with a 20 percent decline in January and a 12.4 percent in February. According to an industry analyst, though the decline slowed done in February, the petrochemical industry is expected to maintain the trend of slight decline.

China National Petroleum Corporation starts development at Iraq’s al-Ahdab field

2009-3-13 Beijing

China National Petroleum Corporation (CNPC), the country’s largest oil and gas producer, has started development of al-Ahdab oil field in Iraq under a 23-year service contract worth US$3 billion. The al-Ahdab field is located in Wasit province, about 160 kilometers southeast of Baghdad, with proven oil reserves estimated at 1 billion barrels. In addition, CNPC is in talks with U.S. energy companies to team up and bid for oil and gas deals in Iraq.