Hubei Dinglong Holdings Co., Ltd. has released its 2019 first three quarters (1 January 2019 – 30 September 2019) performance forecast.
In its performance forecast for the period 1 January 2019 – 30 September 2019, Hubei Dinglong Holdings Co.,Ltd. reports that it expects a steep decline in net revenue compared to the same period of the previous year.
The report also says that the company is expecting revenues to be down for the third quarter, ending 30 September, between 44 and 68 percent.
In the document, Hubei Dinglong reasons that the main reasons for decline are the break in production due to its upgrade of its water filter system in the factory and that “the structure and market have undergone phase changes in the third quarter, which has affected the income and profit of related products in the current period”. The company also stated that costs have increased due to increase spend on R&D on new projects and current mergers and acquisitions and reorganisations.
The full results are expected to be published on 26 October.
