Sinofert’s Loss in 2016 Exceeded RMB 4.6 Billion, Ranking Number One Among Listed Companies

By CnAgri2017-04-11 15:20:41 Print

Sinofert’s turnover recorded RMB 14.96 billion in 2016, down 42.7% year on year; the loss stood at RMB 4.636 billion in 2016, ranking number one among all listed companies, but net profits in 2015 were RMB 221 million.

The main reason for Sinofert’s serious loss is a drop in fertilizer sale volume and price. In 2016, fertilizer sales were 9.13 million MT, down nearly 30% year on year; sales figures reached RMB 14.96 billion, down 42.7% year on year; the average selling price was down 18.2% year on year.

By variety: in 2016, sales volume of Sinofert’s NPK, potash, N-fertilizer and P-fertilizer decreased by 30.1%, 24.5%, 44.4% and 23.4%; the turnover was respectively down 38.6%, 37.9%, 59.7% and 40.6%.

By place of origin: homemade fertilizer sales volume was 6.22 million MT, down 24.7% from 2015; imported fertilizer sales volume stood at 2.91 million MT, down 21.4% from 2015.