492.66%! Eastern Shenghong’s Net Profit Rises in 2021

PVTIME – On April 19, Jiangsu Eastern Shenghong Co.,Ltd.(000301.SZ), a China-based company mainly engages in the R&D, production and sales petrochemical, chemical fiber, thermoelectric, disclosed its annual report for the year of 2021.

Druing the reporting period, it achieved operating revenue of 5,172,2179,700 yuan, a year-on-year increase of 53.48%. The net profit attributable to shareholders of listed companies was 4,543,6040 yuan, a year-on-year increase of 492.66%, creating a new record.

Among them, The revenue of Eva in 2021 was 6,396,078,034.93 yuan, accounting for 12.37% of the operating revenue. In 2020, the revenue was 3,575,764,741.00 yuan, accounting for 10.61% of the revenue.

The annual output of EVA was 351,000 MT, sales volume was 343,600 MT, achieving the revenue of 639,607.80 million yuan. The average selling price of products in H1 2021 was 17,404.47, while that in H2 2021 was 19,885.00, year-on-year increase of 90.34% and 85.50% respectively. The changes were believed to due to the industry demand, especially the rapid rise in the price of photovoltaic products, which resulted in  the rise of EVA products across the board.