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Changmao Bio (00954) sees huge decline in annual profit
Changmao Biochemical Engineering (00954) said it
expects to record a significant decline in the consolidated net profits for the year ended
31 December 2017 as compared with that for the previous financial year.
  The Group's financial performance has been affected mainly by the drop of profit margin
of its products resulted from the significant increase in raw material price during the
year ended 31 December 2017 as compared to that in the corresponding period in 2016; and 
the transformation of its maleic anhydride production lines with an annual production
capacity of 20,000 tons in its Changzhou plan which was commenced in March 2017. The 
construction work of the transformation has been completed in the fourth quarter of 2017 
and is currently under trial run. It is expected that the production will be in full 
operation in the first half of 2018.

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