Zhejiang Longsheng (600352): Net Profit In The First Half Of The Year Dropped 43.56% Year On Year

Zhejiang Longsheng (600352) disclosed its semi annual report for 2022 on the evening of August 19. During the reporting period, the company achieved a revenue of 9.075 billion yuan, a year-on-year increase of 7.87%; Net profit attributable to the parent company was 1.425 billion yuan, down 43.56% year on year; Deduct non net profit of 1.159 billion yuan, down 16.23% year on year; Basic earnings per share was 0.4387 yuan.

During the reporting period, the international environment was still complex and severe. The accumulated inflationary pressure, geopolitical conflicts, instability and uncertainty increased. In addition to the impact of repeated outbreaks in China, the downstream terminal demand of the company's dye industry decreased, and the profit margin of the dye industry declined significantly. Although the company's main intermediate industry currently has a small amount of external new capacity, the market competition pattern has not changed significantly. The company remains the industry leader in both domestic and global markets.

The decrease in net profit, basic earnings per share and diluted earnings per share attributable to shareholders of the listed company is mainly due to the increase in the cost of various raw materials in the current period, the decrease in product sales profit due to the decrease in the selling price of major intermediate products, and the decline in the fair value of invested stocks, PE projects and equity investment income.