Yantai Zhenghai Magnetic Material Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2021
April 19, 2021 at 02:08 pm IST
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Yantai Zhenghai Magnetic Material Co., Ltd. announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced sales was CNY 621.310 million compared to CNY 348.478 million a year ago. Operating income was CNY 28.975 million compared to CNY 12.574 million a year ago. Net income was CNY 29.073 million compared to CNY 13.549 million a year ago. Basic earnings per share from continuing operations was CNY 0.04 compared to CNY 0.02 a year ago.
Yantai Zhenghai Magnetic Material Co., Ltd. is a China-based company principally involved in the manufacture of high-performance neodymium-ferrite-boron permanent magnet materials and research, development of new energy vehicle motor derive systems. The Company operates through two main segments. The Neodymium-ferrite-boron Permanent Magnet Materials segment is primarily engaged in the research, development, manufacture, distribution and services of neodymium-ferrite-boron permanent magnet materials, and its products include finished products, machine processed products and blanks. The New Energy Automobile Motor Drive Systems segment is engaged in the research, development, production and distribution of new energy automobile drive motors and its electronic control systems. The Company distributes its products within domestic market and to overseas markets.