Summary:
In mid-Jan. 2024, several coating enterprises revealed their
performance forecasts. Specifically, net profits of Zhuzhou Feilu and
Kinlita in 2023 are expected to grow YoY.
On
15 Jan., 2024, Zhuzhou Feilu High-tech Materials Co., Ltd. (Zhuzhou
Feilu) disclosed its 2023 performance estimation, showing that in 2023,
net profits attributed to shareholders of the listed company are
predicted to reach USD2.40 million–USD3.53 million (RMB17.00
million–RMB25.00 million), returning to profits from losses of USD14.47
million (RMB102.37 million) in 2022.
Zhuzhou Feilu stated that its net profits will increase YoY mainly because of the following reasons:
The
company continued developing anti-corrosion coatings and waterproof
materials in 2023 and its performance in fields such as rail vehicle
coating, railway and bridge coating improved to some extent.
The
company made progress in new energy sector, particularly in fields of
photovoltaic (PV) adhesive, PV EPC, and wind vane tower barrel
anti-corrosion coating.
Raw material prices went down, reducing costs and driving up gross profit margins.
On
the same day, Shanghai Kinlita Chemical Co., Ltd. (Kinlita) publicised
its 2023 performance forecast. In Jan.–Dec. 2023, net profits attributed
to shareholders of the listed company are anticipated to pick up to
USD1.88 million–USD2.71 million (RMB13.30 million–RMB19.20 million) from
-USD14.99 million (-RMB106.07 million) in 2022.
Kinlita said that the company is expected to turn losses into gains during the reporting period for the following factors:
Kinlita's overall earning capacity improved and its gross profit margins went up significantly compared with last year.
The company enhanced control of purchase costs of raw materials, labour costs, and other expenses.
The market of commercial vehicles rebounded in 2023. Specifically, domestic
output and sale volume of commercial vehicles reached around 4.04
million and 4.03 million units, up by 26.8% and 22.1% YoY, respectively.
The steady recovery of commercial vehicle market boosted demand for
automotive coatings from downstream customers, which pushed up Kinlita's
revenues of relevant coating products.
Source:CCM
More information can be found at CCM Titanium Dioxide China Monthly Report.
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