In the first half of the year, the price of urea in Rouxi Chemical's traditional products showed a good trend. The gross profit rate of nitrogen fertilizer increased from 7.91% in the same period of last year to 15.6%; the company's key project raw material route and power structure adjusted annual profit of 300,000 tons of urea project The capability highlights that the net profit contribution in the first half of the year was 139,692,200 yuan, accounting for more than 70% of the company's total net profit. At the same time, due to the economic downturn and the decline in product prices, the gross profit rate of compound fertilizers and chemical products declined significantly, which dragged down the company’s profit growth.
The company continued to promote the strategy of creating fertilizer and chemical industries. During the reporting period, projects such as sodium formate, formic acid and tetrachloroethylene that were built by the company were put into operation one after another. At the same time, the company’s decision to invest in 200,000 tons of caprolactam per annum in November 2011 has progressed rapidly and the accumulated investment has exceeded 800 million yuan. According to the previous announcement, the project was implemented in two phases with a total investment of 2.502 billion yuan.
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