Yantai Urethane (a public list company in Shenzhen Exchange) announced its sales income was 513,704,000 yuan in the first half of 2009, down 34.49% year over year; profit 39,636,500 yuan, down 79.6%; net profit 29,124,500 yuan, down 79.17%.
The major reason for the profit drop is global financial crisis. The gross profit ratio of urethane products went down 22.81 points in this period. The sale price had to cut down, which resulted in a little profit.
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