Zhejiang Juhua: 2020 net profit expected to drop by 810 million yuan ~775 million yuan, down 87%~90% YoY
NBD AI Bulletin -- Zhejiang Juhua Co., Ltd (SH 600160, close price: 7.8 yuan) on January 18 released a performance forecast, saying that the Company's net profit attributable to shareholders in 2020 is expected to decline by 810 million yuan ~775 million yuan, down 87%~90% year on year. The main reason for the change in performance is the impact of the main business. Affected by negative factors such as the Covid-19 outbreak, industrial downturn, the demand for the Company's products was weakened and the fierce competition drove down the product prices. In the face of severe adverse challenges, the Company fully strove to fight against the epidemic, gave full play to the complete advantages of the industrial chain, carefully organized production and operation, optimized product structure, ensured the production and sales volume of the main products. But the larger year-on-year decline in product prices resulted in the year-over-year decline in operating margins and net profits.
The 2019 annual report shows that Zhejiang Juhua's main business is the chemical industry, accounting for 76.19% of revenue.
Zhejiang Juhua's general manager is Han Jinming, male, 44 years old, Chinese nationality, no overseas permanent residence, professor-level engineer, Master of Engineering.
(By Gao Han)
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