Dinglong Reports Significant Profit Growth in Q3

Dinglong Reports Significant Profit Growth in Q3

According to www.cninfo.com.cn, China-based Dinglong registered an operating revenue of RMB 55.5 million (US$8.68 million) in the third quarter (Q3), up 25.25% compared to the same period last year. Net profit attributable to shareholders of the listed company turned out to be RMB 59.19 million (US$9.26 million), up 44.67% year-over-year; while net profit attributable to the parent company deducting non-recurring gains and losses was RMB 54.47 million (US$8.52 million), up 72.22% compared to the same period last year.

During the first three quarters, Dinglong is reported to realize an operating revenue of RMB 1.651 billion (US$258.33 million), up 31.67% year-over-year due to the significant sales revenue growth from CMP polishing pad, printer chips and remanufactured ink cartridges, as well as Zhuhai Topcolor Environmental Science-Tech Company Limited’s revenue being added to the scope of consolidated statements. Net profit attributable to the shareholders of the listed company, for the three quarters, decreased 37.27% year-over-year to RMB 150.59 million (US$23.56 million). As Shenzhen Retech’s original shareholder’s major asset restructuring performance commitment was not completed and the compensation income for the listed company was RMB 125 million (US$19.56million), which resulted in an increase in the net profit of the listed company by RMB 106 million (US$16.59 million) in the same period last year. Deducting the impacts from non-recurring profits and losses, total net profit attributable to the parent company for the first three quarters turned out to be RMB 149.62 million (US$23.41 million), up 56.68% year-over-year.

Looking at the printing consumables business, Dinglong realized operating revenue of RMB 1.455 billion (US$227.67million), up 20% compared to the same period last year. In particular, the Chip business showed an obvious growth trend, and color toner and remanufactured ink cartridge advantages are stable. Despite the fierce competition in the toner cartridge market, the toner cartridge business from Zhuhai Chaojun Technology Co., Ltd has begun to show a steady recovery trend based on the loss in the first half of the year.

Related:

• Dinglong Reports Strong Revenue Growth in First Half
• Dinglong Releases Fiscal Results for 2020
• China-based DingLong Reports Strong Growth in Q3
• Dinglong Launches Advanced Materials Research Institute Project
• Wuhan Gets Back to Work – Hubei Dinglong Gets Green Light

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