kangdexin Composite Material Group (KDX), a Beijing-based material technology company which trades its stocks in Shenzhen Stock Exchange with a stock code of 002450, released its unaudited financial report on Thursday.
During the reporting period, the company generated a total operating revenue of over RMB 11.9 billion, which had increased by up to 29.8 percent from the previous year.
The company’s operating profits also grew by as much as 32.56 percent to hit over RMB 3 billion, which brought its total earnings up to more than RMB 3 billion, a year-on-year growth of 31.51 percent.
In addition, the company’s net profit attributable to its shareholders rose by 27.74 percent on a year-on-year basis to reach over RMB 2.5 billion.
Among all the factors contributing to the company’s robust revenue growth was the dramatic rise in its optical film production, which was greatly enhanced after its second-stage optical film project got up and running last year. A total of more than ten million square meters of optical films produced by the project was sold last year.
Apart from strengthening its production capacity, the company also optimized its product structure last year, which led to a continued sales increase of its high-end products.
What’s more, by paying more attention to its business management, the company saw an astonishing rise in its operating cash flows last year, which rose from a negative RMB 47.5 million in 2016 to more than RMB 3.53 billion by the end of 2017.
In a previous business performance report it released last October, the company forecast that its net profits attributable to its shareholders would hit between RMB 2.55 billion and RMB 2.74 billion in 2017, which is RMB 44.27 million more than the figure revealed in this report. The company explained that the difference is due to the bad debt reserves for the receivables it has yet to receive and the potential investment losses it confirmed in advance.
During the reporting period, the company generated a total operating revenue of over RMB 11.9 billion, which had increased by up to 29.8 percent from the previous year.
The company’s operating profits also grew by as much as 32.56 percent to hit over RMB 3 billion, which brought its total earnings up to more than RMB 3 billion, a year-on-year growth of 31.51 percent.
In addition, the company’s net profit attributable to its shareholders rose by 27.74 percent on a year-on-year basis to reach over RMB 2.5 billion.
Among all the factors contributing to the company’s robust revenue growth was the dramatic rise in its optical film production, which was greatly enhanced after its second-stage optical film project got up and running last year. A total of more than ten million square meters of optical films produced by the project was sold last year.
Apart from strengthening its production capacity, the company also optimized its product structure last year, which led to a continued sales increase of its high-end products.
What’s more, by paying more attention to its business management, the company saw an astonishing rise in its operating cash flows last year, which rose from a negative RMB 47.5 million in 2016 to more than RMB 3.53 billion by the end of 2017.
In a previous business performance report it released last October, the company forecast that its net profits attributable to its shareholders would hit between RMB 2.55 billion and RMB 2.74 billion in 2017, which is RMB 44.27 million more than the figure revealed in this report. The company explained that the difference is due to the bad debt reserves for the receivables it has yet to receive and the potential investment losses it confirmed in advance.
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