Search History
Clear
Trending Searches
Refresh
avatar
Sign Out
Home > Information > News
Nylon giant Shenma Co., Ltd. sees a "cliff-like plunge" in net profit by nearly 78% in 2024!
New Chemical Materials 2025-03-21 09:19:56

 

On the evening of March 19, Shenma Co., Ltd. released its 2024 annual report, achieving a revenue of 13.968 billion yuan, a year-on-year increase of 4.08%; net profit attributable to shareholders was 33.53 million yuan, a year-on-year decrease of 77.57%; non-recurring loss was 92.4 million yuan, turning from profit to loss.

The annual report shows that the core business segments exhibit a clear divergence: nylon 66 industrial yarn revenue was 1.54 billion yuan (+3.45%), and nylon 66 chip revenue was 2.788 billion yuan (+4.70%), maintaining growth, but the chemical fiber weaving industry's revenue was 3.947 billion yuan (-5.18%), and the PC chemical industry's revenue was 493 million yuan (-61.17%), showing a significant decline, with bisphenol A revenue plummeting by 95.65% to 31 million yuan.

Cost pressures are significant, with the increase in prices of raw materials such as refined benzene, coupled with a decline in the prices of products like industrial yarn and tire cord, leading to pressure on gross profit margins. It is noteworthy that after deducting non-recurring gains and losses, the net loss was 92.3959 million yuan, marking the company's first operating loss since 2013, mainly due to increased R&D investment of 41.17 million yuan and rising financial expenses.

Despite the 35.42 million yuan gain from asset disposal and other income increases of 124 million yuan, it is still difficult to offset the profit gap in the main business. In response to changes in the international trade environment, Shenma Co., Ltd.'s 20,000 tons/year nylon 66 differentiated fiber project in Thailand is expected to be put into production in the third quarter of 2025, aiming to avoid tariff barriers and get closer to the tire industry cluster in Southeast Asia. The current basic earnings per share of 0.03 yuan and the non-recurring earnings per share of -0.09 yuan reflect that the company is currently in a period of strategic transformation pain, and future performance improvement will depend on the release of overseas capacity and breakthroughs in high-value-added products.
Source: Shenma Co., Ltd., Chemical New Materials, Shenzhen Commercial News

 

【Copyright and Disclaimer】The above information is collected and organized by PlastMatch. The copyright belongs to the original author. This article is reprinted for the purpose of providing more information, and it does not imply that PlastMatch endorses the views expressed in the article or guarantees its accuracy. If there are any errors in the source attribution or if your legitimate rights have been infringed, please contact us, and we will promptly correct or remove the content. If other media, websites, or individuals use the aforementioned content, they must clearly indicate the original source and origin of the work and assume legal responsibility on their own.

Most Popular