SGT Reveals Results for First Half of 2020

SGT Reveals Results for First Half of 2020

SGT founder and chairman Richard Yu

According to China-listed company information disclosure website cninfo.com.cn, Suzhou Goldengreen Technologies (SGT) operation revenue in the first half of 2020 turned out to be 144 million yuan (US$21.09 million), up 2.57% compared to the same period from last year.

Some other highlights include:

• Net profit attributable to the parent company was 92 million yuan (US$1.16 million), down 22.33% year-over-year
• Earnings per share were 029 yuan (US$0.004), a decrease of 23.68% from the same period last year
• The total asset was 802 million yuan (US$117.47 million), decreased 5.19% compared to the beginning of the period
• Owners’ equity attributable to the parent company was 580 million yuan (US$84.96 million), an increase of 0.47% compared to the beginning of the period

By product segment,

• Laser OPC drum achieved an operation revenue of 73 million yuan (US$15.05 million), fell 9.27% year-over-year, while gross profit decreased 2.19% year-over-year
• Toners, cartridges and other consumables operation revenue turned out to be 14 million yuan (US$2.95 million), down 21.25%, with gross profit decreased 1.68%

Due to the impact brought on by the covid-19 crisis, the company’s clients, both international and domestic, were greatly impacted, thus resulting in these changes shown in the first half results.

To reduce the adverse impact on the company’s operations, SGT adjusted their OPC product structure as well as price in the first time. As a result, OPC drum sales have increased year-on-year, but overall profits have declined year-on-year.

In future, the company claims it will continuously optimize its product structure, and strive to increase high-end laser OPC drums that with high added-value. Meanwhile, it will increase the sales ratio of laser OPC drums and related consumables to enhance the company’s profitability.

Related:

• Ninestar Reports Results for First Half of 2020

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