trending Market Intelligence /marketintelligence/en/news-insights/trending/v_tgrqKtltPUjOnE7Xtb-w2 content esgSubNav
In This List

Fangda Special Steel Technology Q1 profit falls YOY

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix


Fangda Special Steel Technology Q1 profit falls YOY

Fangda Special Steel Technology Co. Ltd. said its normalized net income for the first quarter was 4 fen per share, a decrease of 52.5% from 9 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 55.2 million yuan, a decrease of 54.5% from 121.2 million yuan in the year-earlier period.

The normalized profit margin fell to 2.7% from 4.3% in the year-earlier period.

Total revenue declined 27.9% on an annual basis to 2.04 billion yuan from 2.82 billion yuan, and total operating expenses decreased 26.7% from the prior-year period to 1.91 billion yuan from 2.61 billion yuan.

Reported net income declined 57.9% from the prior-year period to 67.6 million yuan, or 5 fen per share, from 160.5 million yuan, or 12 fen per share.

As of April 24, US$1 was equivalent to 6.19 yuan.