Ninestar: Net profits up 62.53%, operating income stable
November 2, 2021
The company has released its financials results for the first three quarters of financial year 2021.
In the first three quarters of 2021, the company’s operating income (excluding Pantum Electronics) was RMB15.024 billion ($2.35 billion/ €2.02 billion), a year-on-year increase of 0.83%, and the net profit attributable to the parent (excluding Pantum Electronics) RMB674,514 ($105,428 million/ €90,846 million) a year-on-year increase of 62.53%.
Ninestar said the main reason for the increase in performance was the company’s printer business (including original consumables) and its integrated circuit business.
In the printer business Lexmark’s performance showed a steady and positive trend, and profitability compared to last year. The situation has improved significantly year-on-year, Ninestar said. In the first three quarters, sales of Lexmark printers increased by 17.46% year-on-year. The profit increased by 800% year-on-year.
The PANTUM printer business (managed by the company during the reporting period) continued to maintain a trend of rapid growth in the global commercial market. In the first three quarters, PANTUM Printer shipments increased by more than 50% year-on-year. Pantum operating revenue was RMB 2.805 billion (US$438.127 million), up 117.75% year-over-year, with net profit increasing 363.40% to RMB 513 million (US$80.125 million).
The global market share and brand awareness of PANTUM laser printers have further increased, according to Ninestar’s report.
Ninestar completed the acquisition of 100% of PANTUM’s shares, and said it plans to integrate Lexmark and PANTUM to build a full series of printer product lines, saving on R&D costs, form complementary advantages, and improve operating efficiency.
In the integrated circuit business Apex Microelectronics (including Geehy Semiconductor Semiconductor) saw steady growth with new product releases with operating income increasing by 3.89% year-on-year, and net profit increased by 37.07% year-on-year.
Affected by factors such as the continued decline in exchange rates, the increase in bulk material prices and transportation costs, the company’s general printing supplies business growth was under pressure throughout the reporting period. But in the competitive environment, the company said it actively explored new business and achieved a year-on-year increase in revenue of about 58% in the recycling of toner cartridges and achieved sustained high growth in the e-commerce business.
At the same time, Ninestar said that it continues to improve the efficiency of financial management. In the third quarter, the operating performance of general consumables has been improved.
Categories : World Focus
Tags : Business Financials Ninestar
