Tianhong textile(02678) issued an announcement that in the first half of 2021, the company's income was 12.5 billion yuan (the same unit below), an increase of 52.5% over the same period last year; the profit attributable to equity holders was 1.288 billion yuan, an increase of 12192% over the same period last year; and basic earnings per share was 1.41 yuan. It is proposed to pay HK50 cents per share.
According to the announcement, in the first half of the year, the group's yarn sales revenue reached 9.875 billion yuan, up 58.3 percent, accounting for 78.8 percent of the group's total revenue. In the first half of the year, the group's yarn sales reached 417000 tons, an increase of 37.8% over the same period last year. The average gross profit margin of yarns rose to 23.8%, an increase of 13.2 percentage points over the same period last year.
In addition, the group's gross profit margin increased from 11.4% to 22.8% due to the growth of yarn sales. Net profit margin rose 10.4 percentage points to 10.6%.
