*ST Velvet ((000982)): Expected Net Profit Of 1 Million 600 Thousand --200 Million In The First Quarter.
In April 14th, *ST issued a notice of performance. The company expects net profit of 1 million 600 thousand to 2 million of shareholders belonging to listed companies in 2020 1-3, a change of 100.69% to 100.86% over the same period, and an average net profit growth rate of 3.42% in the textile manufacturing industry.
The company made the above prediction based on the following reasons: the company implemented bankruptcy reorganization in 2019, and the production plant and equipment in the company have been stripped completely. Only two trade subsidiary companies of Eastern cashmere Co., Ltd. and Jiangyin velvet import and Export Co., Ltd. have been retained. During the reporting period, the company's light assets operation, related costs and expenses dropped considerably compared with the same period last year.
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