 2013-11-14 |
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Economic Daily News
Reporter: Wang Ke-xin, Taipei
YC (4306) and its subsidiary, ACHEM (1715), have announced their third-quarter financial results. For the first three quarters, EPS was 1.63 yuan and 1.15 yuan respectively. Looking ahead to Q4, YC expects its performance to surpass the same period last year, driven by new production lines and successful expansion in China. As for ACHEM, the new PE plant is expected to begin operations in the first quarter of next year, which will drive new growth momentum.
YC reported a third-quarter consolidated revenue of 4.93 billion yuan, an increase of 10.8% compared to 4.45 billion yuan in the same period last year. For the first three quarters of this year, consolidated revenue reached 14.57 billion yuan, up 6% from 13.72 billion yuan last year. The operating gross margin was 15%, up 2% from last year. Operating profit was 950 million yuan, a significant increase of 70.8% from 550 million yuan in the same period last year, mainly 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, up 273% from the previous 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 this year, consolidated revenue reached 7.86 billion yuan, up 3.5% from 7.59 billion yuan last year. The operating gross margin was 14%, roughly the same as last year. Operating profit was 440 million yuan, a growth of 28.52% from 340 million yuan last year, due to stable market demand and improved production and sales efficiency. Consolidated net income was 360 million yuan, a 44% increase from the previous year. The net profit margin was 5%, with EPS of 1.15 yuan.
Looking forward to Q4, YC anticipates its performance to surpass the same period last year, driven by increased production lines and reorganization of its operations in China. Additionally, the new PE plant of ACHEM and the newly added PVC production line are expected to contribute new growth momentum, promising future revenue and profit growth. |
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