Tiantong's profit in the first three quarters turned profitable more than 7 times year-on-year
On the evening of October 30, Tiantong Co., Ltd. released its third quarterly report. The company's operating income in the first three quarters was 844 million yuan, down 7.3% year-on-year; the net profit attributable to shareholders of listed companies was 11.45 million yuan, a year-on-year increase of 726.54. %. Corresponding earnings per share of 0.018 yuan. In the mid-year report, the company said that the main reason for the increase in earnings in the first three quarters was the gradual increase in the production and sales volume of the sapphire business, as well as the steady growth of the magnetic materials business, electronic parts business and special equipment business.
The sharp drop in operating costs was the main reason for the year-on-year increase in corporate profits. From January to September 2014, the company's comprehensive gross profit margin was 22.28%, an increase of 4.2 percentage points over the same period of last year, and its profitability has increased. In the first three quarters, the company's operating cost was 656 million yuan, a decrease of 12.05% from the previous year, which was greater than the decrease in operating income. It was the main reason for the company's operating profit increased by 22.22 million yuan during the reporting period.
The cost has increased slightly. From January to September 2014, the company's expense ratio was 21.94%, a slight increase of 1.71 percentage points over the same period of the previous year. The sales expense ratio/management expense ratio increased by 0.91 and 1.1 percentage points respectively over the same period of last year, and the financial expense ratio decreased by 0.31 percentage points. The overall change was not stable.
Non-operating income decreased by 9.69 million year-on-year. During the reporting period, non-operating income decreased by RMB 6.9.15 million compared with the same period of the previous year, representing a year-on-year decrease of 31.03%. This was due to the disposal of fixed assets such as staff quarters in the previous year, which resulted in a large loss of non-current assets disposal. The year-on-year decrease in non-operating income reduced the increase in net profit.
Leading in technology and quality, continue to be optimistic about the company's sapphire business. In recent years, with the joint efforts of the company's scientific research personnel and production personnel, through the introduction, absorption, digestion, and innovation, the first to achieve 90kg-level mass production and 150kg grade crystal trial production, with the core competitiveness of technology and quality. Although the US sapphire supplier GTAT has fallen, the application of sapphire materials in smart terminals is the trend of the times. The company has core competitiveness in this field and continues to be optimistic about the positive role of the future sapphire business in enhancing the overall profitability of the company.
The sharp drop in operating costs was the main reason for the year-on-year increase in corporate profits. From January to September 2014, the company's comprehensive gross profit margin was 22.28%, an increase of 4.2 percentage points over the same period of last year, and its profitability has increased. In the first three quarters, the company's operating cost was 656 million yuan, a decrease of 12.05% from the previous year, which was greater than the decrease in operating income. It was the main reason for the company's operating profit increased by 22.22 million yuan during the reporting period.
The cost has increased slightly. From January to September 2014, the company's expense ratio was 21.94%, a slight increase of 1.71 percentage points over the same period of the previous year. The sales expense ratio/management expense ratio increased by 0.91 and 1.1 percentage points respectively over the same period of last year, and the financial expense ratio decreased by 0.31 percentage points. The overall change was not stable.
Non-operating income decreased by 9.69 million year-on-year. During the reporting period, non-operating income decreased by RMB 6.9.15 million compared with the same period of the previous year, representing a year-on-year decrease of 31.03%. This was due to the disposal of fixed assets such as staff quarters in the previous year, which resulted in a large loss of non-current assets disposal. The year-on-year decrease in non-operating income reduced the increase in net profit.
Leading in technology and quality, continue to be optimistic about the company's sapphire business. In recent years, with the joint efforts of the company's scientific research personnel and production personnel, through the introduction, absorption, digestion, and innovation, the first to achieve 90kg-level mass production and 150kg grade crystal trial production, with the core competitiveness of technology and quality. Although the US sapphire supplier GTAT has fallen, the application of sapphire materials in smart terminals is the trend of the times. The company has core competitiveness in this field and continues to be optimistic about the positive role of the future sapphire business in enhancing the overall profitability of the company.
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