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Fangda Carbon: Revenue of 2.6 billion yuan in the first three quarters, net profit of 400 million yuan

Fangda Carbon: Revenue of 2.6 billion yuan in the first three quarters, net profit of 400 million yuan

On October 31, Fangda Carbon (600516) released a report for the third quarter of 2020. The announcement showed that the revenue from January to September 2020 was RMB 2,600,384,311.99, a year-on-year decrease of 53.86%; the net profit attributable to shareholders of listed companies was RMB 400,408,072.72, a year-on-year decrease. A decline of 79.29%.

As of the end of the reporting period, Fangda Carbon’s net assets attributable to shareholders of listed companies were RMB 15,439,423,990.88, an increase of 2.70% over the end of the previous year; the net cash flow from operating activities was RMB 195,191,906.21, a year-on-year decrease of 94.74%. The announcement showed that operating income fell 53.86% from the same period last year, mainly due to the impact of the epidemic and lower product sales prices during the current period. R&D expenses increased by 82.64% over the same period of the previous year, mainly due to the increase in capital investment in R&D projects during this period.

Source: Fangda Carbon Announcement

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