 2013-11-14 |
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Central News Agency
Reporter: Wei Shu
The YC Group, comprising YC (4306) and ACHEM (1715), has reported impressive profits for the first three quarters of the year. YC’s operating profit surged by 70% due to recognized project revenues, and its net income increased dramatically by 273%, with EPS at 1.63 yuan. ACHEM reported an EPS of 1.15 yuan.
For the third quarter of this year, YC announced a consolidated revenue of 4.93 billion yuan, up 10.8% from 4.45 billion yuan in the same period last year. For the first three quarters, consolidated revenue reached 14.57 billion yuan, a 6% increase from 13.72 billion yuan last year. The operating gross margin was 15%, up 2% from the previous year.
Operating profit was 950 million yuan, a significant increase of 70.8% from 550 million yuan in the same period last year, primarily due to a 390 million yuan gross profit from the Wan-cheng Yunpin project recognized under IFRS in the first half of the year. Consolidated net income was 710 million yuan, a 273% increase from last year. The net profit margin was 5%, with EPS of 1.63 yuan.
For its subsidiary ACHEM, the third-quarter consolidated revenue was 2.7 billion yuan, an increase of 8.4% from 2.49 billion yuan in the same period last year. For the first three quarters of the year, consolidated revenue reached 7.86 billion yuan, up 3.5% from 7.59 billion yuan last year. The operating gross margin was 14%, similar to last year.
Operating profit was 440 million yuan, a 28.52% increase from 340 million yuan last year. The YC Group attributed the strong performance to stable market demand and improved production and sales efficiency, leading to a consolidated net income of 360 million yuan, a 44% increase from last year. The net profit margin was 5%, with EPS of 1.15 yuan.
Looking ahead to Q4, the YC Group expects performance to surpass last year’s figures, driven by increased production lines and reorganization of operations in China. ACHEM’s new PE plant and the newly added PVC production line are expected to contribute new growth momentum, promising future revenue and profit growth. |
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