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Chinese chemical producer Hengyi's profit jumps 40-fold on Iran war
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Chinese chemical producer Hengyi's profit jumps 40-fold on Iran war
Hengyi Petrochemical, a major Chinese non-state manufacturer of oil products, reported a nearly 40-fold jump in profit for the first quarter, citing the sharp rise in prices triggered by the Iran war and effective closure of the Strait of Hormuz. In a disclosure to the Shenzhen Stock Exchange on April 14, the Hangzhou-headquartered company said its revenue for the first three months of the year climbed by 10.2% on the year to RMB 29.94 billion (…
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