The bonded technology expansion storage tank project has been put into production one after another, and the storage tank capacity has further increased. In February 2011, the expansion project of 116,500 cubic meters of storage tanks entered the trial production stage, and the company's total tank capacity reached 433,300 cubic meters. In addition, the company has 58.96 acres of land in Cuide, and it is estimated that it can build 60,000-100,000 cubic meters of storage tanks, which reserves space for the company's future development.
The expansion project was put into production, and the terminal warehousing business developed steadily. In 2010, after the expansion of the 89,000 cubic meter storage tank project was completed and put into operation, the company's total tank capacity reached 316,800 cubic meters, and the pressure on the storage tank was relieved to some extent. During the same period, the company's terminal warehousing business realized operating income of 187 million yuan, an increase of 35.43% year-on-year; realized net profit of 74.649 million yuan, an increase of 36.9% year-on-year. In terms of gross profit margin, the gross profit margin of the company's terminal warehousing business was 76.2%, a year-on-year decrease of 2.6 percentage points. Considering that the company is the second largest warehousing enterprise in Zhangjiagang Free Trade Zone, and its tank capacity accounts for 21.3%, we believe that its gross profit margin level is still expected to remain at a relatively high level, and overall it is optimistic about the development trend of its terminal storage business.
The chemical products trading business developed rapidly, and gross profit increased by nearly 198% year-on-year. PTA sales is a newly developed business of the company in 2009, and it has developed rapidly in 2010. The cumulative sales of PTA for the whole year were 79,500 tons, an increase of 61,400 tons compared with 2009 sales. During the same period, the company's chemical products trading business realized operating income of 598 million yuan, accounting for 74.36% of the total operating income, an increase of 455.3% year-on-year; realized a gross profit of 7.259 million yuan, an increase of 197.97% year-on-year. In terms of gross profit margin, the company's chemical trading business gross profit margin was only 1.21%, a year-on-year decrease of 1.05 percentage points.
Financial expenses increased by 142.91% year-on-year. In 2010, the company's sales expenses and management expenses were well controlled, with year-on-year increases of 83.72% and 12.53%. However, the financial expenses increased by a large year-on-year rate of 142.91%, which was mainly due to (1) the increase in logistics company loan interest and the issuance fee, which caused its financial expenses to increase by 19.718 million yuan compared with 2009; (2) 89,000 cubic meters of storage tanks Completion and acceptance caused Changjiang International to stop capitalizing interest on the project. Overall, the company's period expense ratio was 5.04%, a year-on-year decrease of 7.83 percentage points.
Zibo Fubang Rotomolding Technology Co., Ltd. specializes in the production of various types of storage tanks , hydrochloric acid tanks , sulfuric acid tanks , nitric acid tanks , chemical storage tanks , plastic storage tanks , PE storage tanks , polyethylene storage tanks , steel lined plastic tanks Tank
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