Wanhua Chemical’s Q3 Profit Rises 84% as Polyurethane Sales Top RMB 70 Billion

October 29, 2026 1 min read

Wanhua Chemical reported third-quarter revenue of RMB 66.55 billion, up 24.80% year on year, while net profit attributable to shareholders rose 84.38% to RMB 5.60 billion. Profit growth accelerated from the 64.35% increase recorded in the first half, although revenue growth eased from H1’s 31.26%.

For January–September, Wanhua’s revenue reached RMB 185.87 billion, up 28.87% year on year. Attributable net profit climbed 70.99% to RMB 15.66 billion, exceeding the company’s full-year 2025 profit.

Polyurethane series products generated RMB 70.37 billion in sales revenue over the first nine months. Wanhua reported production of 5.2 million tonnes and sales volume of 5.1 million tonnes for the series during January–September, including material used internally between product series.

Wanhua said polyurethane prices fluctuated upward in Q3. Average market prices were approximately RMB 21,200/tonne for pure MDI, RMB 17,000/tonne for polymeric MDI and RMB 16,800/tonne for TDI. Flexible polyether polyols averaged around RMB 10,000/tonne. The company cited recovering demand in some end uses and support from exports, while noting that domestic flexible-polyol sales remained weak.

The figures show that Wanhua maintained strong earnings growth through September, despite uneven conditions across polyurethane applications. Its Q3 profit increase outpaced its revenue growth, extending the improvement reported in the first half.
Source: Wanhua Chemical’s 2026 third-quarter report

https://www.pudaily.com/news/67769/wanhua-chemicals-q3-profit-rises-84-as-polyurethane-sales-top-rmb-70-billion