Yantai Zhenghai Magnetic Material Co., Ltd. Reports Earnings Results for the Half Year Ended June 30, 2021
August 16, 2021 at 05:21 pm IST
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Yantai Zhenghai Magnetic Material Co., Ltd. announced earnings results for the half year ended June 30, 2021. For the half year, the company announced sales was CNY 1,462.709 million compared to CNY 824.854 million a year ago. Operating income was CNY 126.110 million compared to CNY 49.315 million a year ago. Net income was CNY 114.181 million compared to CNY 50.105 million a year ago. Basic earnings per share from continuing operations was CNY 0.14 compared to CNY 0.06 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.