Ninestar Reveals Forecast for 2021 First Half
Ninestar has predicted that net profit attributable to the parent company is RMB 400 million to 500 million (US$61.79 million to 77.23 million) by June 30, 2021.
That is up 11.45% to 39.31% when compared with the same period last year.
According to cninfo, Ninestar provides the reasons for the improvements, including:
- The hardware sales and revenue of the company’s printer business stabilized and rebounded due to the ease of COVID-19 globally. Among them, master chips for printers, general MCU, SoC safety chips for IoT registered a good increase in sales. Chips for aftermarket consumables and aftermarket consumables reported declining sales compared to the same period last year.
- The amount of non-recurring gains and losses caused by the company’s purchases of derivative financial products to compensate for pre-tax profits is between RMB 85 million and 130 million (US$13.13 million and 20.08 million), which is a good hedge against Lexmark’s RMB loans and the company’s performance due to exchange rate fluctuations loss.
Previously, Ninestar registered an operating income of RMB 9.89 billion (US$1.44 billion) in the first half of 2020, down 8.26% from the same period the previous year.
Net profit attributable to the publicly listed company in the same period dropped 3.72% to RMB 358.91 million (US$52.40 million).
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