Key words：Guangwei Compos, Performance, COVID-19

Abstract: Guangwei Composis estimates that their net profit attributable to shareholders in the first two quarters of 2020 will be about 341 million RMB to 357 million RMB.

Text:

In the evening of July 8, 2020, Weihai Guangwei Composite Material Co., Ltd.(Guangwei Compos) released its performance forecast. It is estimated that the net profit attributable to shareholders in the first two quarters of 2020 will be about 341 million RMB to 357 million RMB, with a year-on-year increase of 10% – 15%.

During the reporting period, Guangwei Comps made overall arrangements for COVID-19 prevention and control and returning of work and production, trying to reduce the impact of the epidemic on business operations.

The business of carbon fiber (including fabric) for military and civilian products maintained a stable growth, with revenue increasing by about 36% compared with the same period of last year. Due to the impact of the epidemic, the carbon spar cap business of wind power had delayed delivery, with a slight increase of 4% compared with the same period of last year. The company’s overall operating revenue was higher than that of the previous year over the same period, and increased by about 20%.

According to preliminary calculation, the company’s non recurring profit and loss from January to June 2020 is about 25.17 million RMB, with a year-on-year decrease of about 1.78 million RMB; the government subsidy included in the current profit and loss is about 22.42 million RMB, with a year-on-year decrease of 46.9 million RMB.

Source: China Expo. Composites

Translated and edited by minds:connected