Sinochem International 2021 net profit soared 608.9% year-on-year. Rubber auxiliaries contribute so much.

On April 16, Sinochem International (Holdings) Co., Ltd. released its 2021 results.

During the reporting period, the company achieved an operating income of 80.648 billion yuan, an increase of 48.9% over the same period last year.

Realized net profit of 2.175 billion yuan belonging to shareholders of listed companies, an increase of 608.9%

Net profit after deducting non-recurrent gains and losses was 565 million yuan, an increase of 564 million yuan, or 45649.01%.

According to the China Rubber Journal, Sinochem International has core competitiveness in the fields of intermediates and new materials, polymer additives, natural rubber and so on.

In the polymer additive industry chain, in addition to continuing to expand investment in the rubber antioxidant industry, the company completed the acquisition of Jiangsu Fubiya Chemicals Co., Ltd. and officially entered the field of plastic additives.

In 2021, Sinochem International held a 60.976% stake in St. Austria Chemical, with a combined revenue of 4.197 billion yuan and a combined net profit of 658 million yuan.

Rubber auxiliaries business has become one of the most profitable businesses of Sinochem International.

In addition, Halcyon Agri (planting and processing natural rubber), a Singapore-listed company in which the company owns 54.99 per cent, achieved a combined income of 15.886 billion yuan and a combined net profit of 29.5577 million yuan last year.