Sales revenue grows by 14% in the first half of 2018
- Revenue increases by 14% to reach RMB 4,627 million, up in both segments
- Earnings generation with profits before tax of RMB 564 million
- China continues to grow: increase of 55%
- Margins up to 12.2%
Mrs Jenny Lu, Chief Financial Officer, says:
Building on the exceptional growth seen in the previous financial year, we continue on our upward trajectory. Sales revenue has increased by 14% to RMB 4,627 million and the group has achieved profits before tax of RMB 564 million (+23.8%) with a profit margin of 12.2%.
The strong financials are reflective of our new strategy. It positions us as an innovative solutions provider with a customer-centric focus that continues to yield strong results across key markets.
China, for instance, delivered excellent growth of 55%. The new production facility in Urumqi, Xinjiang Province, has supplied the first ten spinning machines, helping to meet the high level of demand. The group also inaugurated an original parts warehouse in the province. Being strategically positioned in this region, which is on the corridor connecting China to adjacent countries as part of the One Belt, One Road initiative, allows us to serve customers not just in the immediate vicinity but also in neighbouring markets.”