Xinhua Brocade (600735): Net Profit Increased By 2.8% In The First Three Quarters

Xinhua Jin (600735) released the third quarter report of 2022 on the evening of October 20. The company expects to realize the net profit attributable to shareholders of listed companies to be about 50.3 million yuan in the first three quarters of 2022, with a year-on-year growth of about 2.8%; It is estimated that the net profit after deducting non recurring profit and loss attributable to shareholders of listed companies will be about 46.15 million yuan, with a year-on-year increase of 57%.

The main reasons for the change of performance are the influence of main business. In the first three quarters of 2022, the overseas market of hair products will gradually recover, and the volume of export orders will increase significantly year on year; The company actively develops overseas processing points to expand production capacity and reduce costs; At the same time, the continued appreciation of the U.S. dollar, making the company's main business income and gross profit increased year on year. Second, it is affected by accounting treatment. In October 2021, Shanghai Lizhi Industrial Co., Ltd. was formally incorporated into the consolidated statements of listed companies, which increased the company's net profit in the first three quarters of 2022.