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Benefiting from the accelerated promotion of environmental protection movements around the world, Wansheng, the leader in flame retardants, continued to rise in performance this year, with a Q2 net profit of 226 million hitting a new quarterly high
.
On the evening of August 16, Wansheng Co.
, Ltd.
released its semi-annual report.
In the first half of the year, the company achieved revenue of 1.
991 billion yuan, a year-on-year increase of 125.
15%; realized attributable net profit of 429 million yuan, a year-on-year increase of 302.
55%
.
As a global leader in phosphorus-based flame retardants, Wansheng's performance growth has benefited from the favorable supply and demand ends
.
The aforementioned supply and demand benefits are more obvious in engineering plastic flame retardants such as BDP
.
On the supply side, BDP and other engineering plastics flame retardants have shown a "dominant" situation
.
After Jacques Technology permanently shut down its production capacity due to the "Xiang Shui explosion", Wansheng Co.
, Ltd.
is the most important BDP manufacturer in China, with an existing production capacity of 65,000 tons and another 55,000 tons under construction.
Among other listed companies, Jiangshan Co.
, Ltd.
and Xin'an Co.
, Ltd.
There are also BDP production capacity under construction, but considering the construction and production capacity release time, the market generally expects that it will be difficult to have an impact on the market this year
.
In contrast, the supply and demand of TCPP flame retardants are relatively stable, and the price is mainly affected by the raw material propylene oxide
.
It is reported that TCPP is mainly used for polyurethane rigid foam and soft foam, and the end products are sofas and other furniture products.
Its growth mainly benefits from the replacement of traditional brominated flame retardants, but overall, the growth of downstream demand is limited
.
