Lubei Chemical's net profit in the first half of the year is expected to increase by 1091%

On the evening of July 9, Lubei Chemical (600727.SH) released the "2024 Semi-Annual Performance Pre-Increase Announcement."

The company expects net profit attributable to the parent company for the first half of 2024 to be about 150 million yuan, which will increase by about 137.4081 million yuan compared with the same period last year, or a year-on-year increase of about 1091%. It is estimated that the non-net profit deducted for the first half of 2024 will be about 146.6 million yuan, which will increase by about 134.4599 million yuan compared with the same period last year, or a year-on-year increase of about 1108%.

Lubei Chemical said that the main reasons for the expected increase in semi-annual performance in 2024 are:

1. The comparative base of the previous year was small. The company's operating results were poor in the semi-annual 2023 due to the sluggish titanium dioxide market. Referring to the company's net profit of 109.46 million yuan attributable to shareholders of listed companies in the semi-annual 2022, the company's operating results in the semi-annual 2024 have recovered and achieved growth.

2. In the first half of 2024, the company will actively expand the market, seize market opportunities, improve market research and judgment capabilities and flexibility in sales strategies, and increase sales efforts. Sales of some of the company's products increased significantly year-on-year, among which titanium dioxide products increased by approximately 28.57% year-on-year; methane chloride products increased by approximately 36.69% year-on-year, a significant increase over the same period last year.

3. The company's market has improved significantly year-on-year in the first half of 2024. The sales prices of some of the company's products have increased year-on-year. Among them, the sales prices of titanium dioxide products have increased by about 5.36% year-on-year, and the sales prices of methane chloride products have increased by about 1.75% year-on-year. Therefore, it has increased the company's profits.

Public information shows that Lubei Chemical's main businesses are titanium dioxide business, methane chloride business, fertilizer business, cement business, and salt business.