The company has released its third quarter financial results recording a slight year-on-year decrease in revenues.
For the period, Ninestar recorded operating income of RMB 5.013 billion ($749 million/ €642 million). For the full nine month period to date, total operating income has been RMB 14.901 billion ($2.23 billion/ €1.91 billion), a year-on-year decrease of 11.43%.
Net profit for the third quarter was RMB 56.11 million ($8.39 million/ €7.19 million). For the nine month period net profit accumulates to RMB 415.02 million ($62 million/ €53 million), a year-on-year decrease of 41.01%.
In august, the company said that gradually normal production capacity resumed from March, with continuous innovation in toner cartridge shipments from April to May. Since May, the shipment volume of ink cartridges has continuously exceeded 10 million, achieving a record high. In the first half of the year, the company actively expanded overseas online sales by more than 40% over the same period last year.
In terms of products: the sales of remanufactured toner cartridges and remanufactured ink cartridges increased by more than 50% year-on-year in the period January to August 2020.
