Q1 2022 performance of several coating enterprises in China 06-02-2022

Summary: In late April 2022, several listed coating enterprises released their Q1 2022 reports. Specifically, Oriental Yuhong and BNBM achieved YoY increase in both revenues and net profits; net profits of SKSHU Paint, Keshun Waterproof, and Asia Cuanon decreased YoY.

Beijing Oriental Yuhong Waterproof Technology Co., Ltd. (Oriental Yuhong)

On 28 April, 2022, Oriental Yuhong revealed its quarterly report for Q1 2022, showing that its revenues went up by 17.31% YoY to USD0.96 billion (RMB6.31 billion) from USD0.82 billion (RMB5.38 billion) in Q1 2021; net profits attributed to shareholders of the listed company edged up by 7.07% YoY to USD48.31 million (RMB317.23 million) from USD45.12 million (RMB296.29 million) in Q1 2021.


Keshun Waterproof Technologies Co., Ltd. (Keshun Waterproof)

On 28 April, Keshun Waterproof announced its Q1 2022 performance, displaying that its revenues increased by 18.71% YoY to USD0.26 billion (RMB1.73 billion); net profits attributed to shareholders of the listed company reached USD15.08 million (RMB99.05 million), down by 40.82% YoY. Based on the quarterly report, Keshun Waterproof's costs of sales picked up YoY mainly because its production scale expanded and purchase prices of raw materials went up; the company's operating profits dropped YoY mainly because raw material prices swelled, leading gross profit margins to decline.


Beijing New Building Materials Public Co., Ltd. (BNBM)

BNBM revealed its Q1 2022 report on 30 April. During the reporting period, its revenues hit USD0.70 billion (RMB4.61 billion), up by 10.47% YoY; net profits attributed to shareholders of the listed company grew by 7.28% YoY to USD85.26 million (RMB559.95 million).


SKSHU Paint Co., Ltd. (SKSHU Paint)

SKSHU Paint's Q1 2022 report disclosed on 30 April showed that its revenues attained USD0.26 billion (RMB1.70 billion), up by 14.49% YoY; net profits attributed to shareholders of the listed company fell by 580.21% YoY to -USD5.90 million (-RMB38.74 million). SKSHU Paint stated that its net profits decreased YoY mainly because labour cost and loan interest climbed.


Asia Cuanon Technology (Shanghai) Co., Ltd. (Asia Cuanon)

On 30 April, Asia Cuanon publicised its performance for Jan.–March 2022. During the reporting period, its revenues edged down by 18.77% YoY to USD74.31 million (RMB487.98 million); net profits attributed to shareholders of the listed company plunged by 870.59% YoY to -USD5.79 million (-RMB38.04 million). Asia Cuanon said that its net profits shrank YoY in Q1 mainly because revenues went down YoY owing to the influence of COVID-19.


More information can be found at CCM Titanium Dioxide China Monthly Report.

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