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Hubei Dinglong reports H12020 results

August 24, 2020

The company celebrates their 202020 birthday this year with a tough Q1 but a positive Q2.

In the first quarter of 2020, the impact of the COVID-19 pandemic, led to the company’s Wuhan headquarters, factory and subsidiaries outside the province being closed for a period of time while inspections were carried out in accordance with the announcement and requirements of the local pandemic prevention guidelines.

Delays in kickstarting the in resumption of work were caused by various factors from traffic restrictions, prevention of personnel returning to work and the company’s factories had insufficient capacity utilisation led to some limited product delivery delays.

In the second quarter, the company proactively responded by continuously increasing investment, expanding sales channels and ensuring the rapid recovery of production and operations and a steady increase in overall performance compared with last year.

At the end of the reporting period, Hubei Dinglong Group recorded an operating income of RMB 811.016 million ($117.340 million/ €99.133 million), a 45.16% increase compared to the same period of the previous financial year. Net profit was attributable to shareholders of listed companies was RMB 199.147 million ($17.238 million/ €14.563 million), an increase of 41.52% over the previous year.

For the consumables segment, its three core products (colour polymerised toner, chips, and developer rollers) sales slightly increased for the colour polymerised toner, chip sales remained stable and Dinglong’s new material development roller sales increased by 90% year-on-year. Its finished cartridge sales increased, and the incorporation of the inkjet segment has been progressing and sales increased 34%.

In its report Hubei Dinglong said: “The company has formed a full-industry chain model with a competitive advantage in the printing and copying general consumables industry and has mastered the core materials of the toner cartridge industry.”

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