Ninestar Forecasts Significant Profit Growth for the First Three Quarters
According to cninfo.com.cn/, China-based Ninestar predicts to generate a net profit attributable to shareholders from the listed company up to RMB 0.63 billion (US$97.73 million) to RMB 0.73 billion (US$113.24 million) (not including Pantum) for the first three quarters, up 51.8% to 75.9% compared to the same period from last year.
The report shows that the main reasons for the changes include:
- Printer business
During the first three quarters, the company’s printer and consumables business growth trend is obvious. Lexmark printer sales are predicted to grow more than 20% in units in the first three quarters, with net profit up more than 600% year-over-year. This is due to the ease of the Covid-19 and the mass supply from its strategic partners.
Within the reporting period, Pantum is in the custody of the listed company. Pantum operating revenue is predicted to be 2.8 billion RMB (US$434.33 million) in the first three quarters, up more than 100% comparing with the same period from last year. Pantum net profit is predicted to be 0.51 billion RMB (US$79.11 million), up more than 350% year-over-year.
- Integrated Circus Business
In addition to maintain its chip business growth in the printer industry, Apex also kept on releasing 32-bit industrial/automotive grade MCU products. It realized mass supply to head customers in various important fields. Therefore, Apex microchip’s net profit is predicted to increase more than 30% in the three quarters.
Within the reporting period, it is estimated that the amount of non-recurring gains and losses brought about by the company’s purchase of derivative financial products to the pre-tax profits will be between 90 million RMB (US$14.00 million) and 130 million RMB (US$20.17 million), which is a good hedge against exchange losses caused by exchange rate fluctuations.
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