China’s Jiangsu Lopal Tech Co. and Richful Lube Additive Co. reported increases in net profit for the first half of this year, compared to the same period in 2020.
Richful’s net profit for the first half of this year grew 46% to ¥104 million (U.S. $16.1 million), improving from ¥71.4 million in the first half of 2020. Operating income rose 35.8% to ¥485.9 million, up from ¥358.1 million.
Based in Xinxiang, Henan province, Richful operates a factory there with capacity to manufacture about 100,000 metric tons per year of additive components and 15,000 t/y of packages.
Lubricant manufacturer Jiangsu Lopal Tech reported that its net profit jumped 61% to ¥146.2 million for the first six months of this year, improving from ¥90.9 million. Operating income for the period grew 56% to ¥1.3 billion, compared to ¥819.5 million.
Lopal reported that first-half operating income for its lubricant business segment – the company’s largest operating segment – reached ¥453.4 million yuan.
The company markets engine oils and gear oils under its Lopal brand and car care products, like coolants, under the 3ECARE brand.