Industrial Lube Sales Boost Copton


Industrial Lube Sales Boost Copton

Chinese lubricants blender Copton Tech Co. reported higher net profit and sales revenue for the quarter ending Sept. 30 last year. A decrease in automotive lube sales was offset by a 44% surge in industrial lubricant sales revenue.

Copton reported net profit of ¥11 million (U.S. $1.5 million) in the third quarter, a 39% jump from ¥8 million. Sales revenue rose 54% to ¥261.5 million, compared to ¥169.9 million.

The company highlighted third-quarter sales revenue, sales volume and production volume for its product segments, including automotive and industrial lubricants, in a separate operating data report. Combined, automotive and industrial lubricants sales comprised 77% of ¥193 million in sales in the third quarter, with antifreeze and exhaust gas treatment fluid accounting for the remaining 23%.

Copton’s sales of automotive lubricants decreased 2% to ¥121.1 million in the third quarter, compared to the same period in 2022. Automotive lubricant sales volume increased 4% to 8,717 tons, while its production volume rose 12% to 9,753 tons.

The company’s industrial lubricant sales revenue jumped to ¥25.9 million in the third quarter, compared to ¥18 million. Sales volume for its industrial lubricants surged to 2,429 tons, compared to 1,657 tons. Production volume for industrial lubricants climbed 35% to 2,482 tons. Based in Qingdao, Shandong province, the company manufactures a variety of lubricants under the Copton brand.

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