Moody's: Wanhua Chemical's positive profit alert and share placement are credit positive
Hong Kong, January 20, 2017-- Moody's Investors Service says that Wanhua Chemical Group Co., Ltd.' s positive profit alert and share placement are credit positive, but have no immediate impact on its Baa3 issuer ratings or on the negative outlook. On 18 January, Wanhua Chemical announced that it expects a 2016 consolidated net profit of about RMB3.68 billion, significantly higher than the RMB1.6 billion net profit recorded in 2015.. At the same time, the company announced its...Wanhua Chemical Group is engaged in the development, production and sale of polyurethane and auxiliary agent, Isocyanate (MDI), and derived products; provision of technical and employee training services; import and export business operations; permitted access railway management; production and supply of heat, electricity and pure water; construction of heating network; distribution of chemical products; project investment; technology development; technical training; development, production and sale of thermoplastic polyurethane elastomers (TPU) and polyhydric alcohol; sale of chemical raw material and products; and research, development and technical services of chemical new material.
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