Luen Fat Shares (002394):2019 Net Profit Rose 0.7% To 393 Million Yuan To 10 Yuan 2 Yuan

In April 22nd, 002394.SZ issued its annual report of 3 billion 911 million yuan, a decrease of 6.19% compared with the same period last year, and a net profit of 393 million yuan attributable to shareholders of listed companies, an increase of 0.70% over the same period last year. Net profit attributable to shareholders of listed companies after deducting non recurring losses was 308 million yuan, down 7.77% compared to the same period last year. The basic earnings per share were 1.18 yuan, and every 10 faction was found to be 393 million yuan. The bonus is 2 yuan (including tax).

In addition to cotton cultivation, the company is a large high-tech enterprise with the whole industry chain of ginning, spinning, dyeing, weaving, finishing, knitting, home textile, printing and dyeing, clothing, thermoelectricity, sewage treatment, brand operation and warehousing and logistics. It has a production scale of 320 thousand spindles, an annual production of 160 million meters of dyed cloth, 60 million meters of printing and dyeing cloth, 11 million pieces of garments, 6000 tons of knitted yarn and knitted fabric dyeing, and 72 million mm production capacity of home textiles. The products are sold to more than 20 provinces and municipalities nationwide, and 65% of the main products are exported to more than 30 countries and regions, such as Japan and the United States.

Under the background of "one belt and one road" and international capacity cooperation, China's textile industry has stepped into a new stage of transnational layout, showing the characteristics of accelerating multi region, multi industry and multi form, and moving from maturity to maturity. The company is actively integrating into the "one belt and one way" economic development strategy, which integrates the global textile resources, sets up garment factories in Kampuchea, and has subsidiaries or offices in the United States, Hongkong, Italy, Bangladesh and other countries and regions, and invest in Indonesia to build a new production base of high-grade woven fabrics with an annual output of 66 million meters in Indonesia. In the future, the company will continue to achieve the layout of the global production base, and make full use of the advantages of tariff and labor resources to enhance the global competitiveness of enterprises.

The company focuses on the tenet of "upgrading quality, enhancing efficiency and high-end transformation", adopting technology import and independent innovation, double wheel drive, market development and product upgrading, quality improvement and strict control of cost and two-way measures to accelerate the transformation of traditional industries to modern technology industry, from labor-intensive and extensive development enterprises to capital intensive and technology intensive enterprises. Transformation, products from high-end, comfortable to fashion, creativity, green, humanization upgrade, and strive to create a modern high-end textile industry, the company's color fabric fabric production capacity and business performance are among the forefront of the national textile industry.