HG Reports Strong Growth for FY2020

HG Reports Strong Growth for FY2020

According to the announcement published at cninfo.com.cn, net profit attributable to shareholders of the listed company increased 17.4% year-over-year to 90.64 million yuan (US$14.09 million) for the fiscal year, while the operating revenue turned out to be 874 million yuan (US$135.85 million), up 7.19% year-over-year.

The report also revealed that all the HG businesses maintained continuous growth during the reporting period, among them, OPC drums and information security copier business grew most rapidly, with sales increasing 24.3% and 238.9% respectively. Copier sales revenue generated through e-commerce increased 85% year-over-year.

During the reporting period, HG released compatible black toner and OPC drums that can be used in various branded models and enriched its product range. In order to further enhance its product competitiveness, HG improved its products and enhanced the product quality, making big technical breakthroughs in product anti-pollution and low-temperature fixing. Leveraging its technical and management advantage, the company had also supplied to some OEMs in large quantity. Meanwhile, it also had active communications with several copier and printer manufacturers outside China in order to develop cooperation or expand cooperation scale. The black powder of the HG physical color toner CF400 has begun mass production, while the black powder of the HG physical color toner 540 has been developed successfully and entered the customer’s trial production stage following by some matched testing from its clients.

HG also finished the construction of two toner production lines and completed the expansion of OPC drum base which has been successfully put into production. In 2020, HG carried out a number of technical transformations, including the implementation of two OPC drum production lines post-processing automation transformation, the implementation of drum-based cutting automatic production transformation, as well as technical transformation to some OPC production lines. These technical transformations reduced costs and enhanced product competitiveness for HG.

In the first quarter of 2021, HG reported operating revenue of 243.09 million yuan (US$37.79 million), up 25.44% year-over-year. Net profit attributable to shareholders of the listed company was 18.73 million (US$2.91 million), up 11.54% year-over-year.

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