Chinese lubricant marketer Jiangsu Lopal Tech Co. reported that operating income for its lubricant products segment for the first half of the year fell by 23%, while Richful Lube Additives Co. posted a jump of 40% in net profit for the same period.
Lopal
Lopal reported that net profit for its lubricants segment fell to ¥35 million (U.S. $5 million) for the first six months of this year, compared to ¥45.3 million in the same period last year.
The company said it sold 22,669 metric tons of lubricants in the quarter, down 30% from 32,253 tons. Its lubricants production declined 29% to 22,071 tons, compared to 31,243 tons.
The company markets engine oils and gear oils under its Lopal brand and car care products, including coolants, under the 3ECARE brand.
Richful Lube Additives
Richful reported net profit of ¥146.1 million yuan for the first half of this year, improving from ¥104 million. Operating income jumped 110% to ¥1 billion yuan for the first half of this year, compared to ¥484.9 million.
Operating income for its lubricant additives segment was up 115% at ¥957.8 million, from ¥445.7 million. Based in Xinxiang, Henan province, Richful’s facility there has capacity to produce about 100,000 metric tons per year of additive components and 15,000 t/y of packages.