The company performance and announcements provided are for informational purposes only, and is not intended for trading purposes.
In FY2016, we did very well in all aspects. The Group’s revenue rose 10% to RMB2,036.9 million from the previous year, largely due to the increase in both overall average selling price (“ASP”) and sales volume. ASP for all products increased by 3%.
Gross Profit Insights
To date, the Group has over 1,000 customers, and continues to serve 65% of the world’s top 75 tire-makers. Our accelerators’ market share continued to grow to 31% in the PRC and 18% in the global market.
Net Profit Insights
In FY2016, the Group achieved a new record net profit of RMB221.7 million. This was due to the adoption of our strategy – higher production leads to higher sales volume, and higher sales volume stimulates higher production, thereby achieving equilibrium in production and sales volume.
Sales Volume Insights
Underpinned by our strong brand name and environmental protection measures, our sales volume in FY2016 reached a new record high. This was the 8th consecutive year of sales volume growth since IPO in 2007.
Net Assets Insights
Our balance sheet is healthy and strong, with net cash of RMB462.7 million and zero bank loans (the Group having repaid all outstanding bank loans in FY2016).