Zhonghong Pulin Medical Products Co. Ltd.300981
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First-half net profit surged 2662.38% year-on-year due to higher glove prices and improved margins.
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Zhonghong Pulin Medical Products Co. Ltd.Zhonghong Medical disclosed its semi-annual report, showing net profit attributable to shareholders of the listed company reached 159 million yuan in the first half, a year-on-year increase of 2662.38 percent. The company achieved operating revenue of 1.478 billion yuan in the first half, up 19.46 percent year-on-year. Second-quarter net profit was 154 million yuan, a quarter-on-quarter surge of 3017 percent. Zhonghong Medical said the earnings recovery was mainly driven by higher selling prices for health protection gloves, a significant improvement in product gross margin, and the effectiveness of the company's cost reduction and efficiency improvement measures. As of the close on August 25, Zhonghong Medical's share price stood at 14.77 yuan per share, having risen more than 50 percent since July, with a total market value of 6.3 billion yuan.
Zhonghong Pulin Medical Products Co. Ltd.First-half net profit surged 2662.38% year-on-year due to higher glove prices and improved margins.