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A large number of industrial platforms for Ye's chemical coating business have also been established: the profit fell 94.4% on the 25th of last month, the ink business will be split and listed

the operating profit of Ye's chemical coating business will fall 94.4%, and the ink business will be split and listed

September 03, 2020

Ye's chemical group (00408-hk) released its interim results for the six months ended June 30, 2020. The company recorded 44 sales in the first half of the year. He has 39 years of experience in the plastic industry 700 million yuan (Hong Kong dollars, the same below); The product sales volume recorded 662000 tons, an increase of 5.4% over last year; The net profit attributable to shareholders of the company was 58.8 million yuan; The gross profit margin was 14.6%, an increase of 0.8 percentage points over the same period last year. The board of directors announced an interim dividend of HK $6 per share

among them, affected by the epidemic, the sales amount of coating business was about 629 million yuan, a decrease of 22.7% over the same period last year, and the business operating profit fell 94.4% year-on-year. Ye Jun said that this was mainly due to the suspension of various home decoration and construction projects during the epidemic period, and the decrease in the sales of furniture and toy coatings supplied to export customers. Although the gross profit margin was the same as that of the same period last year, due to the decline in sales, the fixed costs were not fully shared, resulting in a decline in profits

Ye Jun predicts that the demand for architectural coatings and industrial coatings in the domestic market is expected to gradually rebound and will improve in the second half of the year. In addition, the group invests in the imagination space of professional wall renovation service chain brands located in Foshan to enter the home decoration service market, mainly the extended value-added services of its own products

in terms of ink business, ye Jun pointed out that the traditional peak season will enter from September to October, and it is expected that there is a high opportunity to achieve the annual sales target. The proposed spin off plan has been approved by the Hong Kong Stock Exchange; The group aims to submit an independent listing application to Shenzhen Stock Exchange at the beginning of next year and complete the listing at the end of next year, which is expected to raise funds RMB 500million

he also pointed out that the group's capital expenditure this year is high. Waterproof materials - Part 1 sheet GB 181 should be fastened in time; 73.1 (2) 000 is about HK $265 million. He described the first half of the year as full of challenges, but the group's performance in the general environment is still good and its development is clear. He believed that with the domestic epidemic under control and economic recovery in the second half of the year, the overall business will be improved, and he remained cautiously optimistic about the second half of the year. He also predicted that the export business would not perform particularly well in the second half of the year due to the epidemic

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