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Wanhua Chemical profit beats consensus by 17.8% in Q2


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Wanhua Chemical profit beats consensus by 17.8% in Q2

Wanhua Chemical Group Co. Ltd. said its second-quarter normalized net income amounted to 73 fen per share, compared with the S&P Capital IQ consensus estimate of 62 fen per share.

EPS climbed 187.8% year over year from 25 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.95 billion yuan, a gain of 194.4% from 662.8 million yuan in the prior-year period.

The normalized profit margin rose to 14.5% from 9.2% in the year-earlier period.

Total revenue rose 87.1% year over year to 13.42 billion yuan from 7.18 billion yuan, and total operating expenses grew 61.4% on an annual basis to 9.20 billion yuan from 5.70 billion yuan.

Reported net income rose 188.4% year over year to 2.67 billion yuan, or 99 fen per share, from 924.3 million yuan, or 35 fen per share.

As of July 31, US$1 was equivalent to 6.73 yuan.