-131 Million Yuan! ST Zhongli Announces Net Profit in H1 2022

PVTIME – Jiangsu Zhongli Group Co., Ltd. (002309.SZ),  a China-based company mainly engaged in the manufacture and sale of cables and optical cables, and the development and operation of photovoltaic power stations, released its financial report for the first half of 2022 on August 30.

The company achieved operating income of 4,667,611,886.51 yuan during the reporting period, a year-on-year decrease of 4.43%. Its new profit loss attributable to shareholders of the listed company was 131,122,475.86, a year-on-year increase of 89.56%.

In the same period in 2021, its operating income was about 4.884 billion yuan while the net profit loss attributable to shareholders of the listed company was about 1.256 billion yuan and the basic earnings per share loss was 1.44 yuan.

The company stated that its operating costs was increased by the negative influences resulted from uncertainty logistics of imported material from overseas. And a decline in its gross profits was caused by the continuously increased prices of main raw materials from upstream as well as the high freight fees. The operating performance of the company was affected and could not meet the customers’ demands or completed the projects as scheduled.