Daye shares, the annual profit surged 50%!

- Jan 09, 2019-

On January 7, Shandong Daye Co., Ltd. announced that its development momentum in 2018 is stable and fast. It is expected that the annual net profit will increase significantly compared with the previous year, and the net profit attributable to shareholders of listed companies will reach 2.03 billion yuan.

According to the company, the growth rate of its net profit will reach 54.74%. At the same time, the net profit after deducting non-recurring gains and losses will reach 176 million yuan, an increase of 51.46% over the same period of the previous year. Generally speaking, the income from the main business can be counted as net profit after deducting non-recurring gains and losses, which truly reflects the production and operation of the enterprise.

The relevant person in charge said that the two net profit values of Daye shares in 2017 were 131 million yuan and 116 million yuan respectively. In 2018, the company firmly seized the market opportunity, and the scale expansion and market expansion rate accelerated. The production and sales volume of product bead wire, steel cord and hose wire have increased to varying degrees. At the same time, the significant decrease in financial expenses is also a supplementary factor for profit growth.

"China Rubber" learned that Daye shares will issue a convertible bond with a total value of not more than 500 million yuan on the stock market. Most of the funds raised will be added to the company's radial tire cord project, which will be added after the production. The production capacity of steel cord for radial tires is 50,000 tons, and the annual average annual operating income is 428 million yuan.

The company said that its steel cord products produced 550,000 tons in 2017, with a growth rate of 17.87%. However, the company currently has a low market share in the relevant market. This time, it invested a lot of money to rapidly expand the steel cord production capacity. Used to meet market demand.

In addition, Daye Shares is striving to develop high-strength, ultra-high-strength steel cord products business. This technical transformation project will effectively improve product quality and performance, which will help to further develop economies of scale and enhance the overall competitiveness of the company.