Luguo Chemical, 2024 net profit increased by 10.65% year-on-year!

On March 18, Liuguo Chemical released its 2024 annual report. During the reporting period, the company achieved operating revenue of 6.251 billion yuan, a decrease of 9.83% year-on-year; it realized a net profit attributable to shareholders of listed companies of 25.1754 million yuan, an increase of 10.65% year-on-year; it realized a net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses of 12.2098 million yuan, an increase of 40.02% year-on-year.

 

Wanhua takes control

Luguo Chemical, to expand development and enhance the company's risk resistance capability, its controlling shareholder Tonghua Group signed a "Share Transfer Agreement" with Wanhua Battery, a wholly-owned subsidiary of Wanhua Chemical, transferring 26,080,000 shares (accounting for 5% of the total number of shares) it holds in the company to Wanhua Battery through an agreement transfer.

It is understood that Liuguo Chemical, based on introducing a strategic investor with strong capabilities, optimizing the overall resource allocation of the company, promoting project construction, building a complete industrial chain and market, and accelerating the growth and strengthening of Huiyang New Materials, has agreed to transfer 45% of the equity in its wholly-owned subsidiary, Hubei Huiyang New Materials Co., Ltd., to Wanhua Battery for 74.0202 million yuan.

On January 6, 2025, Liuguo Chemical announced a plan to jointly increase the capital of Huiyang New Materials with WanHua Battery by a total of 500 million yuan according to their shareholding ratios, where Liuguo Chemical will contribute 275 million yuan and WanHua Battery will contribute 225 million yuan. After the capital increase, the registered capital of Huiyang New Materials will rise from 500 million yuan to 1 billion yuan, with the shareholding ratios of Liuguo Chemical and WanHua Battery remaining at 55% and 45%, respectively.

In addition, Liuguo Chemical holds a 15% stake in Yichang Mingzhu Phosphor Chemical Industry Co., Ltd., and received a dividend of 17.4521 million yuan from Yichang Mingzhu, which is recorded as the company's investment income for the 2024 fiscal year, positively impacting its operating performance for 2024.

It is reported that the company's smart logistics park automatic loading system has completed continuous loading tests and been put into operation, effectively improving the automation and intelligence level of the enterprise. The automatic loading system consists of an automatic depalletizing system and a robotic loading and palletizing system, capable of completing over 1,500 bags per hour, leading in the fertilizer industry.

 

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