Huafon's Q1 profit anticipated to fall on the year

According to Huafon Chemical's announcement, the net profit in the first quarter of 2022 was expected to be 1.28-1.38 billion yuan, down 15.86-21.95% from the same period last year. During the reporting period, affected by rising price of raw materials, the unit cost increased significantly, resulting in a reduction of profitability, of which the spandex unit cost increased most significantly over last year, exceeding the price increase.