News from the air separation industry, 20160901: Jinhong Gas achieved a net profit of 13.5642 million yuan in the first half of the year, a decrease of 33.89% on a year-on-year basis

Thread Content

The last edit to this post was made by Ameba on 2016-9-1 at 14:14. Small and medium-sized gas companies are also having a tough time~~ JinHong Gas’s net profit for the first half of the year was 13.5642 million yuan, a 33.89% decrease compared to the previous year. According to China Net Finance on August 30, after the market closed on August 29, JinHong Gas released its semi-annual report for 2016. During the reporting period, Jinhong Gas achieved revenue of 303 million yuan, a year-on-year increase of 20.81%; the net profit attributable to the shareholders of the listed company was 13.5642 million yuan, a year-on-year decrease of 33.89%. Basic earnings per share is 0.04 yuan. 　　Jinhong Gas is an environmentally conscious and integrated gas supplier operating in the sector of chemical raw materials and chemical products manufacturing (C26). It specializes in providing comprehensive solutions that encompass the research and development, production, sales, and service of industrial gases. The main reasons for the decline in net profit are as follows: on the one hand, the amount related to employee stock ownership payments that was recorded as an expense in this period was 4,395,300.00 yuan; on the other hand, in line with the company’s strategic goals, it focused on developing its presence in key areas and recruiting additional staff, as a result of which the company’s workforce increased by 145 people compared to the end of 2015, which led to an increase in sales and administrative expenses. Additionally, the carbon dioxide products produced by Kunshan JinHong Carbon Dioxide Co., Ltd. were not launched as planned, which meant that these products did not contribute as expected to the net profit.