Hebang Biotechnology maintains AA rating despite 97% profit plunge

Sichuan Hebang Biotechnology maintained its AA credit rating with stable outlook for convertible bonds despite a 97.55% decrease in net profit attributable to shareholders in 2024.

The rating agency cited the company's cost advantages in chemical, pesticide, and solar sectors, plus low leverage, as supporting factors despite the profit collapse from industry cyclical fluctuations.

Hebang Biotechnology is expanding into methionine and mineral products to foster new profit growth.