The company has released its 2020 third quarter results, recording year-on-year increases in income and profits.
In the 2020 third quarter of Hubei Dinglong Holdings Co., Ltd, the company reported operating income of ¥443.050 million ($66 million/ €56 million) for the reporting period, a year-on-year increase of 57.47%. Net profit for the period was ¥40.91 million ($6 million/ €5 million), a year-on-year increase of 36.08%.
Forward looking, Hubei predicts that calculated net profit may show a loss or a significant change compared with the same period of the previous year.
Hubei added: “With the gradual implementation of the company’s strategic layout in the printing and copying consumables industry and the smooth development of its ink cartridge business, the company’s product structure adjustment has achieved expected results.”
This reporting period, the company’s related business gradually returned to normal, which basically eliminated the impact of the shutdown during the first quarter of the epidemic.
Hubei Dinglong concluded: “The uncertainty of the external epidemic situation is still strong and affected by market factors such as terminal overcapacity, the sales price of the company’s toner cartridges continues to decline, and the product sales price is in the market. The cycle’s low price level has led to a year-on-year decline in gross profit margin.”
