Yantai Spandex Performance In The First Half Of The Year

Yantai Spandex

Limited by Share Ltd released its 2010 half yearly performance bulletin.

During the reporting period, its total operating income reached 706 million yuan, an increase of 37.41% over the same period last year, and realized a total profit of 183 million yuan, an increase of 361.09% over the same period last year. Net profit was 143 million yuan, an increase of 390.50% over the previous year, and the basic earnings per share were 0.55 yuan, up 400% over the same period last year.

Textile industry

The impact of recovery, spanning two quarter of last year, spandex prices continue to rise.

At the beginning of 2010, the spandex 40D spandex price quoted in Yantai was 48 thousand yuan / ton, then rapidly increased to 62 thousand yuan / ton in mid March, and dropped to the current 58 thousand yuan / ton in late May.

Industry analysts believe that the current spandex industry is at a high position, as the downstream textile and garment industry in the second half of the export may fall, the second half of the spandex prices are unlikely to rise again.

international market

After the Spring Festival, the export of aramid products increased, orders increased, and production increased to full load. The price also rose 8 thousand yuan / ton in April and May (the current tax price is about 140 thousand yuan / ton).

With the global economic recovery, Yantai spandex aramid business will continue to improve in the future.

In addition, the Yantai spandex 5 thousand tons / year medical spandex project is expected to be fully put into operation in October 2010. The 7000 ton / year comfortable spandex project is expected to be put into operation at the end of June 2011, and the 1000 ton / year aramid project is expected to be put into operation in May 2011.

All these will lay the foundation for the sustained and steady growth of the company's future performance.