November 5, 2018
The Chinese company has announced its financial results for both the third quarter and the first nine months of the current fiscal year.
In Q3, Ninestar recorded an operating income of ¥5.47 billion ($789.7 million/€694.4 million), a 6.71 percent increase on Q3 of the previous year. However, there was a fall in the company’s net profit, which fell to ¥183.4 million ($26.48 million/€23.28 million), a decrease of 63.91 percent.
Net cash flow from operating activities hit ¥514 billion ($74.21 billion/€65.25 billion), a substantial increase of 784.64 percent compared to last year.
For the nine months from the beginning of the current financial year, there was a slight dip of 2.21 percent in operating income, compared to the first nine months of 2017; this brought operating income to ¥15.89 billion ($2.29 billion/€2.01 billion). This still represents a continuous increase on the figure after the first six months of this year, which stood at ¥10.4 billion ($1.52 billion/€1.31 billion).
Net profit (attributable to shareholders) went the other way, rising by 197.82 percent to ¥495.9 million ($71.59 million/€62.96 million) – building on the six-month figure of ¥31.5 million ($4.6 million/€3.9 million), whilst net cash flow went up even further, climbing to ¥1.05 billion ($151.59 million/€133.34 million), a rise of 543.41 percent. This followed a half-year total of ¥555.2 million ($81.2 million/€69.9 million), which points to a resurgent year for Ninestar Corporation.
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