More than 50 percent of listed chemical companies expect losses for the first half of this year.

Of the 180 listed chemical companies who have released their half-year performance reports, 93 forecast losses, according to eastmoney.com, a main financial Web portal.

More than 20 companies expected their profits to disappear.

Jiangsu Hongda New Material Co, a major chemical group in eastern China, forecast losses of 160 to 180 million yuan ($26 to $29 million).

Shanxi Sanwei Group Co, headquartered in northwestern China, forecast losses for the first time at 127 million yuan.