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Hubei Dinglong sees income rise but profits drop

Hubei Dinglong sees income rise but profits drop

August 20, 2021

The company has reported its latest half-yearly results recording an operation income increase of 35.18%.

For this latest reporting period, Hubei Dinglong recorded operating income of ¥1.096 billion ($169 million/ €144 million), a 35.18% increase year-on-year. Net profit attributable to shareholders was ¥91.41 million ($15 million/ €12 million), a year-on-year decrease of 54.1%.

Hubei Dinglong explained that during the reporting period, the sales revenue increased significantly, mainly due to the continuous increase in the market share of mature products on the client side, and the gradual increase in new products. The company added that it continued to improve the production process to ensure production yield, improve production efficiency, and reduce raw material loss. During the reporting period, the company achieved timely delivery of orders.

Hubei Dinglong said that sales of toner powder continued to maintain steady growth, and the gross profit margin of toner sales remained stable during the reporting period.

The sales of remanufactured ink cartridges increased by 37.44% year-on-year, and revenue and profits increased significantly year-on-year.

Sales volume of toner cartridges increased by 11.86% year-on-year, domestic and foreign e-commerce purchases increased, and the proportion of e-commerce sales increased. Hubei Dinglong added that “due to the overcapacity in the toner cartridge market, the profitability of the company’s toner cartridge business has yet to be continuously improved.”

Categories : City News

Tags : Business Financials Hubei Dinglong Sales

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