p> PUWORLD(2010-4-7) China s leading MDI producer Yantai Wanhua announced today that net profit shrank by 31.15% to Rmb 1.066 billion in 2009.
The company said its earnings per share decreased by 31.18% to Rmb 0.64. Its annual operating revenue dropped 15.72% to Rmb 6.493 billion, with major revenue from domestic market dropped by 16.55% to Rmb 5.053 billion while those from overseas market declined by 10.97% to Rmb 1.418 million.
Looking forward to 2010, the company predicted that global MDI market will continue seeing supply shortage even though operation rates have elevated. Besides, demand from Latin America, Middle East, India and Southeast Asia areas will sustain a growth rate above 20%. In the next three years, the on-stream of its Ningbo production site will provide strong prop for the company to expand market.
