Chu Jiang new material company semi-annual report released, the first half of 2016 achieve operating income of 3.64 billion RMB, an increase by 9%, net profit of 78.98 million RMB, an increase of 114%,
the corresponding EPS is 0.18 RMB, while the second quarter net profit of 56.49 million MRB. At the same time, the company expects Month 1-9 to achieve net profit of 93.16~114.33 million RMB, an
increase of 120%~170%.
1. The main industry is slightly more than expected to top the contribution of science and technology performance, to achieve substantial growth. In the first half, the main business is slightly more than
expected, sales growth, product structure and continuous optimization. Company’s copper strip, alloy wire sales increased further, achieve 73 thousand tons and 16 thousand tons respectively, an increase
of 9.3% and 10%; Prices of raw materials and products fell and enhance competitiveness, further improve the gross margin, copper and steel strip gross profit margin of 6.3%, 1.5% increase over last year,
steel pipe gross profit margin of 12.5%, 3.2%; Net profit of 60.13 million thousand RMB, an increase of 63%.
2. Copper processing industry is still space, high-end thermal equipment + new materials as the main aspect. Chu Jiang is leading enterprises of the domestic copper processing, has a high market share.
The company is committed to product structural adjustment, to the high precision copper strip direction development, improve product competitiveness, the future will benefit from the product mix to
bring the results of the optimization of the structure.
3. Chu Jiang new material company will be formed in the future to basic materials and high-end thermal equipment and new materials of two major business model, basic materials will benefit optimization
of product structure to bring earnings growth, high-end thermal equipment and new materials open space for future growth.
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