Company News

Annual net profit of China Pengfei group (03348) increased by no less than 50%

2021-03-11 Reading times:

Zhitong financial news, China Pengfei group (03348) announced that the Group expects that the profit attributable to the owners of the company as of December 31, 2020 will achieve a substantial increase of no less than 50% compared with that as of December 31, 2019.
For the year ended December 31, 2020, the expected increase in the profit attributable to the owners of the company is mainly due to the substantial increase in the amount of government subsidies received. Due to the implementation of toll free in the first half of 2020 by the people's Republic of China and the negative impact of public health incidents on the business operation of the group's overseas customers (especially the construction of production lines), the demand for overseas transportation has decreased. Despite the group's efforts to maintain a positive growth in domestic sales, and the total revenue for the year ended December 31, 2020 is expected to increase as a whole, the transportation industry will continue to grow. Moreover,there is still a reduction in costs and no listing expenditure.