Red Avenue New Materials Group Co., Ltd. Reports Earnings Results for the Half Year Ended June 30, 2021
August 16, 2021 at 06:10 pm IST
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Red Avenue New Materials Group Co., Ltd. announced earnings results for the half year ended June 30, 2021. For the half year, the company announced sales was CNY 1,171.901 million compared to CNY 942.782 million a year ago. Operating income was CNY 271.924 million compared to CNY 205.616 million a year ago. Net income was CNY 237.007 million compared to CNY 179.929 million a year ago. Basic earnings per share from continuing operations was CNY 0.4 compared to CNY 0.31 a year ago.
Red Avenue New Materials Group Co., Ltd. is a China-based company principally engaged in the research, development, production, sales and trading of fine chemical materials. The Company's main products are phenolic resins for rubber, including tackifying resins, reinforcing resins and adhesive resins. The Company's products are mainly applied in tires, as well as hoses, adhesive tapes, rubber shoes and other rubber products. The Company is also engaged in the trading of homogenizers, tackifying resins, adhesives, cobalt salts, white carbon, protective waxes, environmentally friendly oils and other processing aids.