October 28, 2019
Hubei Dinglong Holdings Co., Ltd.’s third quarter results report shows that during the reporting period, the company achieved an operating income of ¥798.384 million ($112.996 million/ €101.822 million), a year-on-year decrease of 19.43 percent. Net profit attributable to the parent company was ¥174.404 million ($24.68 million/ €22.24 million), a year-on-year decrease of 23.18 percent.
As previously reported Hubei Dinglong reasons that the main reasons for decline are the break in production due to its upgrade of its water filter system in the factory and that “the structure and market have undergone phase changes in the third quarter, which has affected the income and profit of related products in the current period”. The company also stated that costs have increased due to increase spend on R&D on new projects and current mergers and acquisitions and reorganisations.
The report also says that due to fluctuations in the price within the toner cartridge industry, its toner cartridge revenue and profits also show a year-on-year decline although Hubei Dinglong does emphasize that its supply chain advantage will continue to play to further strengthen the company’s industry and market position.
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