SHENZHEN BAOCHENG – Oversupply in Market Creates New Direction for Improved Formulation

What trends do you see happening in your sector for 2024?

For most products, the capacity is too huge in China now, the price level will stay low.

The price for most products has already been going down, so we think prices will stabilize with a slight chance of going down in 2024. We will try to focus more attention on new products with better profit. For technical, the big manufacturers will become bigger, as the government restrictions will  increase in the future. Our company will continue to cooperate with the government and use the advantage of our four formulation plants to enhance our formulation competitiveness.

What is the biggest opportunity in 2024? How will this impact the industry as a whole?

We think the biggest opportunity in 2024 is to enhance our advantage in formulations, like the quality, recipe, and effectiveness, and try to build more famous brands to gain more margin for our business.

What are some new product launches or major developments within your company?

Our company had approximately 50 new registrations in 2023, and the overturn raised more than 5% in 2023. We will invest more in registration, including GLP reports. We will also invest in some intermediates to have more of an advantage for future competition.  •

Shenzhen Baocheng Chemical Industry Co., Ltd.
www.baochengagro.com

Dennis Lu/Vice Managing Director
[email protected]
+86 15012592918