More China Companies Announce Results for Q3

More China Companies Announce Results for Q3

Following Dinglong’s report to shareholders, another three Chinese companies have reported their fiscal results for the third quarter (Q3).

Ninestar

In Q3, Ninestar operating income achieved 5.01 billion (US$749.85 million), with a net profit of RMB330.67 million (US$49.50 million). For the past 9 months, the company reports total revenue to be RMB 14.9 billion (US$223.04 million), down 11% year-over-year. Net profits attributable to listed companies was RMB 415.02 million (US$62.11 million), down 41% compared to the same period from last year.

According to the announcement published at cninfo.com.cn, revenue and profit were mainly affected by the following:

(1) Exchange losses increased by RMB 578.6 million (US$86.60 million) year-on-year, of which Lexmark’s RMB M&A loan exchange losses increased by RMB 409.74 million (US$61.32 million) year-on-year;

(2) Equity incentive expenses increased by RMB 110.87 million (US$16.60 million) year-on-year.

Suzhou Goldengreen Technology

According to the statement published at cninfo.com.cn, Suzhou Goldengreen Technology Co. Ltd (SGT) reported its operating income was of RMB 133.66 million (US$20.00 million), and the net profit was RMB 8.67 million (US$1.30 million), increasing 88.2% and 77.53% respectively.

For the first three quarters, SGT claims it reached an operating income of RMB 277.31 million (US$41.51 million), up 57.47% year-over-year. Net profit turned out to be RMB 16.59 million (US$2.48 million), growing 100% comparing to the same period in last year.

SGT’s operating income increased 31.38% year-over-year from RMB 211.07 million (US$31.59 million) to RMB 277.31 million (US$41.51 million), due to the adding of the operating income from its new subsidiary Fujian Minbao Information Technology Co., Ltd. For the same reason, the company’s operating costs, sales expense, management expense as well as R&D expense all increased year-over-year accordingly.

HG Technologies

During the reporting period, HG Technologies Co., Ltd (HG) registered an operating income of RMB 205.37 million (US$30.74), down 6.93% compared to the same period in last year. Net profit was of RMB 21.0 million (US$3.14 million), up 18.08% year-over-year. Net profit after tax turned out to be RMB 20.82 million (US$3.12 million), grew 19% compared to the same period in last year.

During the past 9 months, HG achieved an operating income of RMB 619.11 million (US$92.67 million), up 2.57% comparing to the same period in last year. Net profit turned out to be RMB 60.51 million (US$9.06 million), up 13.56% year-over-year. Profit after tax was of RMB 58.76 million (US$8.80 million), up 11.77% year-over-year.

Related:

• China-based DingLong Reports Strong Growth in Q3

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