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Hubei releases 2020 full year results

April 13, 2021

While operating income increased, net profits at Hubei Dinglong decreased and the company announced a stronger focus on inkjet.

The company full year results for 2020 show that the operating income was RMB 1,816,859,092.20, (€233.26 million / $277.43 million) an increase of 58.15% compared to 2019. Net Profit take a dive of 568.82% to RMB -159,824,129.60 (-€20.5 million / -$24.4 million)

Commenting on the results, Hubei Dinglong explained: “Market competition in the printing and copying general consumables industry is becoming increasingly fierce, and the market share of general consumables tends to be stronger in terms of comprehensive strength, technical card positions and scale advantages, and brands.”

The company added: “Importantly, intelligent manufacturing in the form of automated production lines is the development trend of consumables production. In terms of sales, as the internet marketing model gradually penetrates into the field of general consumables, the promotion of e-commerce platform sales channels has also become the direction of various printing consumables manufacturers’ efforts in recent years.”

The company believes that “consumables will also gain new growth opportunities” from increased emphasis on recycled consumables.

In its forecast for the first quarter 2021 results, Hubei predicts net profit to grow year-on-year 122.24%-163.91% and operating income growth of 76.68%-83.75% year-on-year.

During the reporting period, the company increased its shareholding in Zhuhai Tiangang Environmental Technology Co., Ltd. (ZTET), from 22% to 42%.  ZTET is a manufacturer of raw ink cartridges.

The company also established Zhuhai Dinglong Huijie Technology Co., Ltd, who is engaged in the production and sales of ink cartridge products. The newly established ink cartridge plastic parts company Dingwei Technology matched the needs of Huijie general ink cartridge plastic parts needs and cooperated with Huijie’s patented designs.

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