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Article: Anhui Xinke New Materials reports 1H03 net profit drop of 55.18% yoy.
- Article from:
- China Business News
- Article date:
- August 26, 2003
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Anhui Xinke New Materials reports 1H03 net profit drop of 55.18% yoy
Shanghai. August 26. INTERFAX-CHINA - Anhui Xinke New Materials Co. Ltd. (AXNMC), one of China's key state-level hi-tech companies based in Anhui Province, posted a net profit drop to RMB 4.18 mln (USD 504,831) in the first half of 2003 from RMB 9.33 mln (USD 1.13 mln) in the first half of 2002, a decrease of 55.18% year-on-year. The company attributed its net profit fall primarily to gross profit margin reductions, according to information Interfax received from the company's interim report.
AXNMC, during the first half of the year, suffered from a sharp rise in the price of its ...