China BlueChemical expects to report CNY50m-80m ($8m-12m) in net profit for the 2017 financial year, helped by higher selling prices on its products and impairment losses. The company said it would cut costs of about $200m this year as part of a plan announced last month that will see it focus more on research and development rather than production. (HL) 新型肺炎專輯 - 最新疫情發展和防疫貼士即睇 A run up in raw material prices led to testing and aggregate impairment losses of CNY420m-460m being recognised on CNOOC Huahe Coal Chemical's coal-based urea plant and Hubei Dayukou Chemical's phosphate and compound fertiliser plants.
China BlueChemical expects to report CNY50m-80m ($8m-12m) in net profit for the 2017 financial year, helped by higher selling prices on its products and impairment losses. The company said it would cut costs of about $200m this year as part of a plan announced last month that will see it focus more on research and development rather than production. A run up in raw material prices led to testing and aggregate impairment losses of CNY420m-460m being recognised on CNOOC Huahe Coal Chemical's coal-based urea plant and Hubei Dayukou Chemical's phosphate and compound fertiliser plants.