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Mingxin Automotive Leather (605068.SH): The company is the supplier of suede microfiber for the Leda L60.
Gelonghui, December 16丨Mingxin Automotive Leather (605068.SH) stated on the interactive platform that the company is the suede microfiber supplier for the Leda L60.
Mingxin Automotive Leather (605068.SH): Multiple fundraising projects have been completed and the remaining raised funds will be permanently used to supplement working capital.
On December 10, Gelonghui announced that mingxin automotive leather (605068.SH) released information about its planned projects for the raised funds: "A project for the clean and intelligent upgrade of the annual production of 1.1 million sheets of cowhide autos leather," "The construction project of the research and development center for mingxin automotive leather Co., Ltd.," and "An industrial 4.0 construction project for the annual production of 0.5 million sheets of high-grade chromium-free tanned cowhide autos leather." The remaining raised funds of 128.3856 million RMB (actual remaining raised funds will be based on the bank account balance on the fund transfer date) will be permanently used to supplement working capital.
Mingxin Automotive Leather (SHSE:605068) Posted Weak Earnings But There Is More To Worry About
Mingxin Xuteng 2024 Third Quarter Report
Mingxin Automotive Leather (605068.SH): The net income in the first three quarters was 12.0884 million yuan, a decrease of 69.1% year-on-year.
On October 29, Gelonhui announced that mingxin automotive leather (605068.SH) achieved total operating income of 0.778 billion yuan in the first three quarters of 2024, a year-on-year increase of 24.18%; net income attributable to shareholders of the parent company decreased by 69.1% to 12.0884 million yuan; with an EPS of 0.08 yuan.
Both the stock price and performance of Mingxin Automotive Leather have declined. The company's revenue is stable, but the cyclical nature of the auto industry is not obvious. | Live coverage of the earnings conference
①In the fourth year of its listing, the net income of mingxin automotive leather has declined for three and a half years in a row, not only putting pressure on performance, but also the stock price of mingxin automotive leather, which is currently in a continuous 'new low'; ②In the first half of this year, the company's revenue increased without increasing profits, and operating cash flow, investment cash flow, and financing cash flow all showed negative values; ③The company stated that the current utilization rate of production capacity for genuine leather business is about 70%, and for non-genuine leather business is about 80%.
