Ninestar Reveals Forecast for 2021 First Half

Ninestar Reveals Forecast for 2021 First Half

Ninestar has predicted that net profit attributable to the parent company is RMB 400 million to 500 million (US$61.79 million to 77.23 million) by June 30, 2021.

That is up 11.45% to 39.31% when compared with the same period last year.

According to cninfo, Ninestar provides the reasons for the improvements, including:

• The hardware sales and revenue of the company’s printer business stabilized and rebounded due to the ease of COVID-19 globally. Among them, master chips for printers, general MCU, SoC safety chips for IoT registered a good increase in sales. Chips for aftermarket consumables and aftermarket consumables reported declining sales compared to the same period last year.
• The amount of non-recurring gains and losses caused by the company’s purchases of derivative financial products to compensate for pre-tax profits is between RMB 85 million and 130 million (US$13.13 million and 20.08 million), which is a good hedge against Lexmark’s RMB loans and the company’s performance due to exchange rate fluctuations loss.

Previously, Ninestar registered an operating income of RMB 9.89 billion (US$1.44 billion) in the first half of 2020, down 8.26% from the same period the previous year.

Net profit attributable to the publicly listed company in the same period dropped 3.72% to RMB 358.91 million (US$52.40 million).

Related:

• Ninestar Reports Results for First Half of 2020
• Ninestar Forecasts Strong Growth in Q1
• Founding Ninestar CEO Shares Insights in Rare Appearance
• Ninestar Claims to Be Aftermarket Patent Leader
• Canon and Ninestar Settle Over US Cartridge Dispute
• Ninestar Wins Patent Dispute Again

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