Huafang Shares (600448): First Half Profit 9 Million 600 Thousand Cost Rise

In August 26th, in the first half of 2019, China Textile shares reached 1 billion 510 million yuan, down 5.68% compared to the same period last year. Net profit was 9 million 604 thousand and 200 yuan, down 15.33% compared with the same period last year. Net profit after deducting non profits was 2 million 970 thousand and 700 yuan, down 50.13% compared with the same period last year.

During the reporting period, the company achieved operating income of 1 billion 510 million yuan, down 5.68% compared to the same period last year, mainly due to the increase of labor costs, raw materials and other costs, the weakening of international market demand and the lack of innovation capability of enterprises, and so on, and the traditional foreign trade orders decreased and fragmented.

Statistics show that the company takes printing and dyeing as its main business and forms diversified development models including spinning, clothing, home textile products, textile trade, brand development, "B2B" platform, financial investment and thermoelectricity.