Shenzhen Textile A Released 2019 First Three Quarters Earnings Forecast, Earnings Increased 44.81% Over The Same Period Last Year

In October 15th, Shenzhen textile (Group) Limited by Share Ltd (hereinafter referred to as "Shenzhen textile A") released the first three quarters of 2019 performance notice. According to the report, in January 1, 2019 - September 30, 2019, Shenzhen textile A is expected to increase its business performance with the expected net profit of 17 million 766 thousand and 400 yuan, an increase of 44.81% over the same period last year.

Meanwhile, the announcement shows that the net profit attributable to shareholders of Listed Companies in July 2019 -9 amounted to 9 million 934 thousand and 100 yuan, an increase of 278.90% over the same period last year.

During the reporting period, the net profit attributable to shareholders of listed companies increased by a certain margin over the same period last year, mainly due to the increase in non recurring gains and losses. The company expects the impact amount to be about 28 million 984 thousand and 100 yuan, mainly for government subsidy income and non current assets disposal income.

During the reporting period, the company's operating income increased considerably over the same period last year. The main reasons were: first, the TFT-LCD two phase 6 line was put into operation in the second half of 2018, the capacity was released in the current year, the sales volume increased year-on-year; two, the import trade business that had been prepaid equipment in 2018 was completed in the current reporting period, and the bulk trade income increased from the same period last year. However, the price of Polaroid products has been running low after the sharp decline in 2018. The main product order structure adjustment has not reached the expected level. In addition, the price of TN/STN products has been greatly reduced due to the shrinking of the market sales, and the increase of the purchasing cost and the increase of exchange losses caused by the depreciation of the RMB exchange rate have offset the contribution of its sales increase to net profit.