Financial Analysis of Chinese Listed Pesticide Enterprises in 2022

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Publish time: 1st March, 2023      Source: CCM
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Since 2021, China's agrochemical industry has faced varied changes. Firstly, production of agrochemical products gets restricted or suspended, in part due to the tightened domestic policies of energy restriction; secondly, producers' profitability was affected by the price hikes of raw materials resulted from unsettled COVID-19 pandemic and geopolitical crisis; last but not least, concerns on food security have arisen, which boosted the demand for global agricultural products in bulks, as well as the use of pesticides and fertilisers. So the impacts have followed on the sales of agrochemical enterprises in China.

Against this backdrop, most China's pesticide technical producers enjoyed positive results in 2022, especially in herbicides. Although some products proceeded with high prices to Q3 2022, the pesticide market resumed to normal state on the whole, seeing a steady downtrend in price. In Q4 2022, because the prices of pesticides decreased to a low level, and the demands for agrochemical products saw no surge as expected, plus some producers diminishing their operation rate, the revenue in Q4 slackened off. Combining with Q4 as the off-season for pesticides (both technical and formulations), the performance in Q1–Q3 can reflect the general trend of China's pesticide industry.

By analysing the H1 and Q3 reports of the selected listed pesticide companies, along with some freshly-out performance projections for 2022, CCM will analyse 26 major listed pesticide companies in China in Q1–Q3, 2022 from the following aspects:
√ Total revenue
√ Net profit
√ Net cash flow

   √ Total assets

  

  

  

  

  Main contents:

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
        No.                Content                
        

      
        
      
         Methodology                
      
        
      
         Executive summary                
      
         1                 Rankings of listed pesticide companies in China in Q1–Q3 2022                
      
         1.1                 Listed pesticide companies in China                
      
         1.2                 Ranking by total revenue                
      
         1.3                 Ranking by net profit attributable to equity holders of the listed company                
      
         1.4                 Ranking by net cash flow from operating activities                
      
         1.5                 Ranking by total asset                
      
         1.6                 Ranking by net asset attributable to equity holders of the listed company                
      
         1.7                 Ranking by R&D expense                
      
         2                 Analysis of listed pesticide companies in China as of Jan. 2023                
      
         2.1                 Sichuan Guoguang Agrochemical Co., Ltd.                
      
         2.10                 Suli Co., Ltd.                
      
         2.11                 Jiangsu Fengshan Group Co., Ltd.                
      
         2.12                 Limin Group Co., Ltd.                
      
         2.13                 ADAMA Ltd.                
      
         2.14                 Lianhe Chemical Technology Co., Ltd.                
      
         2.15                 Shenzhen Noposion Agrochemicals Co., Ltd.                
      
         2.16                 Hailir Pesticides and Chemicals Group Co., Ltd.                
      
         2.17                 Jiangsu Yangnong Chemical Co., Ltd.                
      
         2.18                 Anhui Guangxin Agrochemical Co., Ltd.                
      
         2.19                 Lier Chemical Co., Ltd.                
      
         2.2                 Jiangsu Huifeng Bio Agriculture Co., Ltd.                
      
         2.20                 Jiangsu Changqing Agrochemical Co., Ltd.                
      
         2.21                 Sichuan Hebang Bio-technology Co., Ltd.                
      
         2.22                 Shandong Cynda Chemical Co., Ltd.                
      
         2.23                 Jiangsu Flag Chemical Industry Co., Ltd.                
      
         2.24                 Shandong Weifang Rainbow Chemical Co., Ltd.                
      
         2.25                 ABA Chemicals Corporation                
      
         2.26                 Sino-Agri Leading Biosciences Co., Ltd.                
      
         2.3                 Jiangsu Lanfeng Biochemical Co., Ltd.                
      
         2.4                 Nantong Jiangshan Agrochemical & Chemicals Co., Ltd.                
      
         2.5                 Nanjing Red Sun Co., Ltd.                
      
         2.6                 Zhejiang Wynca Chemical Industrial Group Co., Ltd.                
      
         2.7                 Zhejiang Qianjiang Biochemical Co., Ltd.                
      
         2.8                 Hunan Haili Chemical Industry Co., Ltd.                
      
         2.9                 Hubei Xingfa Chemicals Group Co., Ltd.       

  

  

  List of tables:

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
        Table No.                Table Title       
         Table 1.1-1                 26 Major listed pesticide companies in China, as of Jan. 2023       
         Table 1.2-1                 Major listed pesticide companies in China by revenue, Q1–Q3 2022 vs Q1–Q3 2021 & 2021       
         Table 1.3-1                 26 Major listed pesticide companies in China by net profit, Q1–Q3 2022 vs Q1–Q3 2021 & 2021       
         Table 1.4-1                 26 Major listed pesticide companies in China by net cash flow Q1–Q3 2022 vs Q1–Q3 2021       
         Table 1.5-1                 Major listed pesticide companies in China by total assets as of 30 Sept., 2022 vs 2021       
         Table 1.6-1                 Major listed pesticide companies in China by net asset as of 30 Sept., 2022 vs 2021       
         Table 1.7-1                 Major listed pesticide companies in China by R&D expense, Q1–Q3 2022 vs Q1–Q3 2021 & 2021       
         Table 2.1-1                 Major financial performance indicators of Sichuan Guoguang, million USD       
         Table 2.1-2                 Segment revenue of Sichuan Guoguang, H1 2022 vs H1 2021       
         Table 2.2-1                 Major financial performance indicators of Jiangsu Huifeng, million USD       
         Table 2.2-2                 Segment revenue of Jiangsu Huifeng, H1 2022 vs H1 2021, USD       
         Table 2.3-1                 Major financial performance indicators of Jiangsu Lanfeng, million USD       
         Table 2.3-2                 Segment revenue of Jiangsu Lanfeng, H1 2022 vs H1 2021       
         Table 2.4-1                 Major financial performance indicators of Nantong Jiangshan, million USD       
         Table 2.4-2                 Segment revenue of Nantong Jiangshan, H1 2022 vs H1 2021       
         Table 2.5-1                 Major financial performance indicators of Nanjing Red Sun, million USD       
         Table 2.5-2                 Segment revenue of Nanjing Red Sun, H1 2022 vs H1 2021       
         Table 2.6-1                 Major financial performance indicators of Zhejiang Wynca, million USD       
         Table 2.6-2                 Segment revenue of Zhejiang Wynca, H1 2022 vs H1 2021       
         Table 2.7-1                 Major financial performance indicators of Qianjiang Biochemical, million USD       
         Table 2.7-2                 Segment revenue of Qianjiang Biochemical, H1 2022 vs H1 2021       
         Table 2.8-1                 Major financial performance indicators of Hunan Haili, million USD       
         Table 2.8-2                 Segment revenue of Hunan Haili, H1 2022 vs H1 2021       
         Table 2.9-1                 Major financial performance indicators of Hubei Xingfa, million USD       
         Table 2.9-2                 Segment revenue of Hubei Xingfa, H1 2022 vs H1 2021       
         Table 2.10-1                 Major financial performance indicators of Jiangsu Suli, million USD       
         Table 2.10-2                 Segment revenue of Jiangsu Suli, H1 2022 vs H1 2021       
         Table 2.11-1                 Major financial performance indicators of Jiangsu Fengshan, million USD       
         Table 2.11-2                 Segment revenue of Jiangsu Fengshan, H1 2022 vs H1 2021       
         Table 2.12-1                 Major financial performance indicators of Limin Group, million USD       
         Table 2.12-2                 Segment revenue of Limin Group, H1 2022 vs H1 2021       
         Table 2.13-1                 Major financial performance indicators of ADAMA, million USD       
         Table 2.13-2                 Segment revenue of ADAMA, H1 2022 vs H1 2021       
         Table 2.14-1                 Major financial performance indicators of Lianhetech, million USD       
         Table 2.14-2                 Segment revenue of Lianhetech, H1 2022 vs H1 2021       
         Table 2.15-1                 Major financial indicators of Shenzhen Noposion, million USD       
         Table 2.15-2                 Segment revenue of Shenzhen Noposion, H1 2022 vs H1 2021       
         Table 2.16-1                 Major financial performance indicators of Hailir Group, million USD       
         Table 2.16-2                 Segment revenue of Hailir Group, H1 2022 vs H1 2021       
         Table 2.17-1                 Major financial performance indicators of Jiangsu Yangnong, million USD       
         Table 2.17-2                 Segment revenue of Jiangsu Yangnong, H1 2022 vs H1 2021       
         Table 2.18-1                 Major financial performance indicators of Anhui Guangxin, million USD       
         Table 2.18-2                 Segment revenue of Anhui Guangxin, H1 2022 vs H1 2021       
         Table 2.19-1                 Major financial performance indicators of Lier Chemical, million USD       
         Table 2.19-2                 Segment revenue of Lier Chemical, H1 2022 vs H1 2021       
         Table 2.20-1                 Major financial performance indicators of Jiangsu Changqing, million USD       
         Table 2.20-2                 Segment revenue of Jiangsu Changqing, H1 2022 vs H1 2021       
         Table 2.21-1                 Major financial performance indicators of Sichuan Hebang, million USD       
         Table 2.21-2                 Segment revenue of Sichuan Hebang, H1 2022 vs H1 2021       
         Table 2.22-1                 Major financial performance indicators of Shandong Cynda, million USD       
         Table 2.22-2                 Segment revenue of Shangdong Cynda, H1 2022 vs H1 2021       
         Table 2.23-1                 Major financial performance indicators of Flagchem, million USD       
         Table 2.23-2                 Segment revenue of Flagchem, H1 2022 vs H1 2021       
         Table 2.24-1                 Major financial performance indicators of Weifang Rainbow, million USD       
         Table 2.24-2                 Segment revenue of Weifang Rainbow, H1 2022 vs H1 2021       
         Table 2.25-1                 Major financial performance indicators of ABA CHEM, million USD       
         Table 2.25-2                 Segment revenue of ABA CHEM, H1 2022 vs H1 2021       
         Table 2.26-1                 Major financial performance indicators of Sino-Agri Leading, million USD       
         Table 2.26-2                 Segment revenue of Sino-Agri Leading, H1 2022 vs H1 2021       

  

  

  List of figures:

                                                     
        Figure No.                Figure Title       
         Figure 1.1-1                 26 Major listed pesticide companies in China by region       

  

  

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