Hubei Xingfa released, on 8 March, 2016, the full-year financial report of 2015, which showed that its glyphosate revenue reached USD212.68 million (RMB1.39 billion), a proportion of 11.38% to the revenue from main business and a YoY soar of 167.53%.
In year 2014, Hubei Xingfa acquired Hubei Taisheng Chemical Co., Ltd. (Hubei Taisheng), obtaining in this way a glyphosate capacity of 70,000 t/a. By March 2016 Hubei Xingfa holds 75% of equity in Hubei Taisheng, 51% of which for direct holdings and 24% for indirect holdings.
At the same time the company put its 60,000 t/a glyphosate expansion project into operation in Q4 2015 and its glyphosate capacity amounts so far to 130,000 t/a.It should also be noted that Hubei Xingfa sold 77,400 tonnes of glyphosate in year 2015 (about 10,000 tonnes for end-of-year inventory of 2014), a YoY rise of 91.11%. All this seems to confirm that Hubei Xingfa has a very high utilization rate of glyphosate capacity.
Hubei Xingfa, if compared to other glyphosate enterprises, has a relatively complete up- and down-stream industrial chain for glyphosate, which results in a strong competitiveness in glyphosate business among the industries. In addition, its glyphosate device based on the industrial chain of circular economy in the
industrial park enjoys significant cost advantage, which enables the company to rank top in the industry regarding the production cost control.