Yunnan Yunwei Posts Records     

Yunnan Yunwei Co., Ltd. (SH: 600725) announced on July 30th that the company accomplished an operating revenue of RMB2.908 billion in the first half of 2008, an increase of 127.07% over the same period of last year, a net profit of RMB208 million, an increase of 207.78% and EPS was RMB0.72. The performance growth is driven by the coke and methanol businesses.
   The coke business is the major source of income and profit for the company. The operation of the 3.05 million t/a coke unit in Yunnan Dawei Coking Co., Ltd. and Qujing Dawei Coking Gas Manufacture & Supply Co., Ltd. in 2008 has resulted in its good performance.
   The methanol business in the company has seen a remarkable progress. The 300 000 t/a methanol units matched to 3.05 million t/a coke units use coke oven gas to produce methanol with a low cost. The price rise of coking coal has led to a cost increase of methanol, but the price rise of methanol can fully compensate for the price rise of raw materials.
   Yunnan Yunwei said the coal chemical business will drive its growth. The company will focus on the downstream coal chemical business on the basis of the resource advantage in Yunnan Coal Chemical Group. The coke, methanol, crude benzene and coal tar sectors are all in the period of prosperity and will promote the profit-earning ability.
   In addition, Yunnan Yunwei announced on July 21st that its Board of Directors has agreed to invest RMB100 million in constructing a plant in Shidian County, Baoshan of Yunnan province, for calcium carbide, vinyl acetate, polyvinyl acetate, EVA and other related products. The first phase will include 200 000 t/a calcium carbide and 50 000 t/a vinyl acetate.