Wangsu Science and Technology’s net profit decreased 96% in 2019

Wangsu Science and Technology (300017) released its 2019 annual report. From January to December 2019, the company achieved operating income of RMB 6.007 billion, a year-on-year decrease of 5.21%, according to JRJ.com.

Wangsu Science and Technology (300017) released its 2019 annual report. From January to December 2019, the company achieved operating income of RMB 6.007 billion, a year-on-year decrease of 5.21%, according to JRJ.com.

The communication equipment industry has the average operating income growth rate of individual stocks in the annual report is 7.48% based on public information.

The net profit attributable to shareholders of the listed company was 34.438 million yuan, a year-on-year decrease of 95.71%.

The communication equipment industry has disclosed that the average net profit growth rate of individual stocks in the annual report is 14.79%. The company’s earnings per share are 0.01 yuan.

At the same time, the company issued a performance forecast for the first quarter of 2020.

It is expected that from January 2020 to March 31, 2020, the net profit will be from 60 million yuan to 90 million yuan, a decrease of 45.73% to 18.6%. And the performance of the same period last year will have net profit of 110.5619 million yuan.

Regarding the reasons for the changes in the first quarter of 2020, the company stated:

1. In the first quarter of 2020, the company’s operating conditions are normal, and it is estimated that the net profit attributable to shareholders of the listed company will be 60 million to 90 million yuan.

2. During the reporting period, it is estimated that the impact of non-recurring gains and losses on the company’s net profit will be about 20 million yuan, compared with 19.51121 million yuan in the same period last year.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/28/wangsu-science-and-technology-s-net-profit-decreased-96-in-2019/.

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