Profit of Veyong Bio-Chemical Jumped in 2012

Hebei Veyong Bio-chemical said the total sales in 2012 rose 1.5% over 2011 to RMB1 800 million and the profit boosted 58% YoY to RMB 42.2 million. The pesticides business sales grew 9.1% YoY to RMB 614.6 million in 2012 and the profit increased 16.3%. Sales of technical pesticides rose 12.4% from a year earlier to RMB 227.0 million while pesticide formulations was up 7.2% YoY to RMB 387.7 million.
   Export of the company grew 16.2% YoY to RMB 311.7 million in the last year while domestic business dipped 2.64% YoY.
   Veyong Bio-chemical focuses on pesticide, veterinary drug, energy and chemicals businesses. In 2012, the company set up the project of glufosinate, azoxystrobin technical, so as to improve the product portfolio.