Product price drop and rising export costs drag down H1 profits at Wanhua

摘要

Yantai,Shandong-Wanhua posted CNY 5.6bn($794m)net profit in Hi 2019,down by 46 from a year ago.Revenue dropped 15 to CNY 31.5bn.'A slowdown in the global economy,drops of main product prices and rising export costs have impacted our profitability,'the company's half year report said.Wanhua's monomeric MDI and polymeric MDI prices in H1 2019 were both down from H1 2018.For example,in June the MDI price 23 lower than it had been a year ago;TDI was down by 36.