Chinese lubricant marketer Lopal Tech Co. reported a 23% drop in operating income for its lubricant products segment for the first nine months of this year, while Richful Lube Additives Co. said its net profit skyrocketed almost 600% in the third quarter, compared to the same periods last year.
Lopal
Lubricant manufacturer Jiangsu Lopal tech reported operating income of ¥495.5 million (U.S. $71 million) for its lubricants segment for the first three quarters of this year, falling from ¥646.3 million.
According to its segment operating data, the company sold 29,421 tons of lubricants during the first nine months of this year, a 34% decline from 44,248 tons. Its lubricants production fell 30% to 29,954 tons, compared to 43,055 tons.
The company markets engine oils and gear oils under its Lopal brand and car care products, including coolants and antifreeze, under the 3ECARE brand.
Richful Lube Additives
Richful Lube Additives reported net profit of ¥217.5 million yuan for the quarter ended Sept. 30, a 588% increase from ¥31.6 million in the same period last year.
The company’s operating income jumped 438% to ¥1 billion in the third quarter.
Richful’s facility at its Xingxiang, Henan province headquarters location can produce about 100,000 metric tons per year of additive components and 15,000 t/y in packages.