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China Zaino posts 42.2% fall in 3Q net profit to $10.9m

November 11th, 2009 | No Comments

China Zaino International, the manufacturer of backpacks, recorded a revenue and net profit of RMB453 million and RMB53.5 million respectively for the 3 months ended 30 September 2009 (3Q09).

China Zaino says revenue decreased y-o-y by 22.5% to RMB453.3 million in 3Q09 as compared to RMB585.3 million in 3Q08 mainly due to the decrease in backpack sales. Sales of backpacks in 3Q09 were affected by a combination of lower consumer spending in view of the economic slowdown in China and outbreak of H1N1 since the beginning of the year. As such, the distributors purchased less from the group in 3Q09. The group sold 2.5 million units of backpacks in 3Q09 as compared to 4.5 million units of backpacks in 3Q08.

China Hongcheng posts 90% fall in 1Q net profit to $1.2m

November 11th, 2009 | No Comments

China Hongcheng Holdings, the home textile manufacturer of premium textile products, today says revenue for the first quarter ended 30 September 2010 (1QFY2010) fell 7.8% to RMB 120.6 million ($24.6 million) from RMB 130.8 million in 1QFY2009.

The group’s gross profit decreased from RMB 32.0 million to RMB 24.5 million and gross profit margin decreased from 24.4% to 20.3%. Profit attributable to equity holders decreased from RMB 11.6 million to RMB 6.1 million. Net asset value per share as at 30 September 2009 was RMB 1.54 (30 June 2009: RMB 1.52).

Shanghai Asia Holdings 3Q net falls 25.5% to $3m

November 8th, 2009 | No Comments

Shanghai Asia Holdings, the China-based manufacturer of aluminium foil for cigarette packs, says net profit for 3Q2009 fell 25.5% to RMB 14.47 million ($3 million) from RMB 23.44 million in 3Q2008 although revenue rose 3.3% to RMB 239 million.

Shanghai Asia says the continued rationalisation of the China Tobacco Industry and the appointment of new suppliers for printed packaging by one of our major customers has adversely affected our Gravure Printing business during the year.

China Fibretech posts 42.3% fall in net to $10.7m for 9M

November 6th, 2009 | No Comments

Fabric processor China Fibretech today says the group reported a 32.3% decline in revenue to RMB235 million ($48 million) in 9MFY2009 from RMB347.3 million in 9MFY2008.

Net profit declined 42.3% to RMB52.4 million in 9MFY2009 from RMB90.9 million in 9MFY2008.

China Fibretech says the decline is mainly due to a decrease in demand and a consequent decrease in the sales quantities for the group’s fabric processing services. Nonetheless, the group witnessed an increase in the average selling price as a result of the positive change in product mix.

Sino Techfibre posts $21m loss for 3Q

November 6th, 2009 | No Comments

Sino Techfibre, one of China’s leading producers of microfibre, polyurethane (PU) synthetic leather and pattern moulding paper (PMP), today announced that it registered a net loss of RMB102.5 million ($21 million) for the three months ended 30 September 2009, on the back of a 26.7% decline in group revenue to RMB259.9 million.

For the nine months of FY2009, the group posted a net loss of on revenue of RMB634.7 million, as a result of the adverse operating environment that had affected the average selling prices of its core PU and microfibre synthetic leather products.

Synear Food Holdings posts 23% rise in net to $71.m for 3Q

November 4th, 2009 | No Comments

Synear Food Holdings, one of China’s leading quick freeze food producers, today says net profit for the group increased 23% to RMB34.6 million ($7.1 million) for the three months ended September 30, 2009 (3Q09). Revenue climbed 4.8% to RMB408.9 million.

However, revenue for the nine months ended September 30, 2009 (9M09) declined 16.2% to RMB1,362.9 million, hit by the challenging business environment in the first half of 2009. Net profit decreased 38.6% to RMB128.7 million in 9M09.

China Hongxing Sports posts 78.2% fall in 3Q net to $4.7m

November 3rd, 2009 | No Comments

China Hongxing Sports, the sports shoes, apparel and equipment manufacturer, says net profit attributable to shareholders fell 78.2% to RMB 23.2 million ($4.7 million) for the third quarter ending Sept 30, 2009 (3Q2009) compared to RMB 106 million in 3Q2008.

Sales fell 29.5% to RMB 492.5 million in 3Q09 from RMB 698.2 million in 3Q08 mainly due to the weak consumer market brought about by the global economic downturn and excess inventory in the industry leading to higher discounts given to distributors.

Yangzijiang posts 17% in net profit to $113.5m for 3Q

November 3rd, 2009 | No Comments

Yangzijiang Shipbuilding (Holdings), one of China’s leading and most enterprising shipbuilders, says net profit attributable to shareholders rose 17% to RMB 554 million ($113.5 million) in the three months that ended Sept 30, 2009 (3Q2009) from RMB 475 million in 3Q2008.

Longcheer posts 38% fall in net to $6.2m in 1Q

October 30th, 2009 | No Comments

Longcheer Holdings, one of the leading designers of mobile phones in China, says net profit fell 38% to RMB 30.2 million ($6.2 million) for the three months ended Sept 30, 2009 (1QFY10) from RMB 48.9 million in 1QFY09.

Revenue fell 1% to RMB 897 million in 1QFY10 from RMB 905.3 million in 1QFY09.

China Sunsine Chemical net falls 2% q-o-q to $5.1m in 3Q

October 30th, 2009 | No Comments

China Sunsine Chemical Holdings, the specialty rubber chemicals producer and the largest accelerator producer in China and the world, says group revenue rose 13.5% q-o-q to RMB 201.7 million ($48.2 million) in 3Q09 compared to RMB 177.7 million in 2Q09.

Net profit after tax fell 2% q-o-q to RMB 25 million in 3Q09 from 25.5 million in 2Q09.

China Merchants Property Development posts 179% rise in net to $97m

October 27th, 2009 | No Comments

China Merchants Property Development Co. says total operating income for the July to September third quarter rose 420% to RMB 2.4 billion ($492 million) while net profit attributable to shareholders rose 179% to RMB 474 million.

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Ying Li International posts 74% rise in 3Q sales to $6.4m

October 26th, 2009 | No Comments

Ying Li International Real Estate, the China-based property developer, says group revenue for the 3 months ending Sept 30 2009 (3QFY2009) was RMB31.4 million ($6.4 million) or 73.9% higher than that of the corresponding period last year due to sale of units in Phase 1 of Sanyawan.

Profit after tax was RMB 5.4 million in 3Q09 compared to a loss of RMB 107.4 million in 3Q08.

Asia Environment posts 52% rise in net to $3.7m for 3Q

October 26th, 2009 | No Comments

Asia Environment Holdings says group revenue increased by 175% to RMB 266.7 million ($110 million) in 3Q2009 from RMB 97.1 million in 3Q2008.

Asia Environment says this was mainly due to an increase in revenue recognised from turnkey services rendered to various BOT projects amounting to RMB 152.5 million and the increase in sales of manufactured equipment amounting to RMB 8.1 million; and increase in revenue from operations and maintenance amounting to RMB 9 million.

Ziwo Holdings posts 130.5% rise in 1H09 net to $10.5m

October 15th, 2009 | No Comments

Mainboard-listed Ziwo Holdings, the China-based producer of yarn and foam, reported strong earnings growth of 130.5% to RMB51.9 million ($10.5 million) for the first six months ended 30 June 2009 (1H09) against RMB22.5 million the same period last year (1H08) in its first results announcement since its initial public offering on Oct 8.

Group revenue increased by 32% to RMB174 million in 1H09 compared to RMB131.8 million in 1H08 on the back of strong demand for its key foamed materials and foamed SBR and 30D TFY due mainly to growing market applications for the group’s products and the import substitution trend as Chinese manufacturers of lifestyle consumer products replace relatively more expensive imported raw material with locally produced raw material that are more cost competitive. In particular, there was strong domestic demand for the group’s high foamed PE materials from automobile manufacturers.

China Flexible Packaging posts 36.7% fall in revenue to $38m, net loss of $2m for 3Q

September 14th, 2009 | No Comments

Mainboard-listed China Flexible Packaging Holdings, one of the leading manufacturers in the production and sale of thermoplastic polymer film, says revenue fell 36.7% to RMB 180.5 million ($37.7 million) in the third quarter ended July 31, 2009 (3Q2009) from RMB 285.4 million in 3Q2008.

The decrease was mainly attributable to the weakening economy from the global financial crisis and lower average selling prices of its products, says China Flexible Packaging.

Gross profit decreased to RMB 31.1 million in 3Q2009 from RMB 83 million in 3Q2008.

Fabchem Chinaâ€™s 1Q net rises 70% to $4.12m

August 7th, 2009 | No Comments

Mainboard-listed Fabchem China, one of the largest non-electric detonators producers in China, says the group’s 1Q2010 net profit after tax soared 69.5% to RMB 19.6 million ($4.12 million) from RMB 11.6 million in 1Q2009.

This was achieved on the back of strong revenue of RMB 83.2 million in 1Q2010, which jumped 73.1% from RMB 48 million in 1Q2009.

China Eratat posts 25% rise in 1Q10 net profit to $7.5m

July 30th, 2009 | No Comments

Mainboard-listed China Eratat Sports Fashion, a leading sports fashion footwear and apparel company based in Jinjiang, Fujian Province, China, today announced its revenue soared 52.9% to RMB259.7 million ($54.9 million) in the first quarter this financial year (1QFY10).

Net profit increased 24.7% to RMB35.4 million in 1Q10 from RMB28.4 million in 1Q09.