Wanhua Chemical achieved a total operating income of 60.62 billion yuan in 2018

On April 23, 2019, Wanhua Chemical disclosed its annual report that it achieved total operating income of 60.62 billion yuan in 2018, up 14.1% YoY, and net income attributable to the owners of the parent company of 10.61 billion yuan, down 4.7% YoY, and earnings per share of 3.88 yuan. During the reporting period, the company's gross margin was 33.8%, down 5.9 percentage points from the previous year, and its net profit margin was 21.2%, down 3.9 percentage points from the previous year.
company's expense rate for 2018 was 8.5%, little changed from last year
china
. Total expenses for the period amounted to $5.13 billion, an increase of 17.1% YoY. Sales expenses were 1.72 billion, up 21.5% YoY, management expenses were 1 billion, up 25.8% YoY, financial expenses were 800 million, down 14.5% YoY, and research and development expenses were 1.61 billion, up 30% YoY. The company's research and development investment increased significantly, up 30% from the same period last year to 1.61 billion yuan. The total cost of research and development investment is not capitalized.
business structure, "polyurethane series", "petrochemical series" is the main source of business revenue. Specifically, the "Polyurethane Series" generated revenue of $30.95 billion and revenue of 51.7%. "Petrochemical Series" operating income of 18.91 billion, revenue accounted for 31.6%. "Fine Chemicals and New Materials Series" revenue of 5.7 billion, revenue accounted for 9.5%.
profit contribution, the "polyurethane series" gross margin contribution is the largest. During the reporting period, the overall gross margin of enterprises was 33.8%, down 5.9 percentage points year-on-year. Among them, "polyurethane series", "petrochemical series", "fine chemicals and new materials series" gross margin contribution ratio of 76.1%, 9.2%, 8.7%, "polyurethane series" contributed a larger margin. The gross margins of polyurethane series, petrochemical series, fine chemicals and new materials series are 50.3%, 10% and 31.3%, respectively.