Jingwei Textile Machinery (000666.SZ) disclosed its interim statements on August 15, 2020. The company achieved total operating income of 3.67 billion yuan in the first half of 2020, a year-on-year decrease of 26.6%; net profit attributable to the parent company was 170 million yuan, a year-on-year decrease of 51.7%; Earnings per share is 0.24 yuan. During the reporting period, the company’s gross profit margin was 34.2%, a year-on-year increase of 4.8%, and the net profit margin was 35.9%, a year-on-year increase of 4.3 percentage points.

 

Jingwei Textile Machinery’s operating cost for the first half of 2020 was 1.09 billion yuan, a year-on-year decrease of 45.2%, higher than the 41.2% decline in operating income, and gross profit margin increased by 4.8%. The expense ratio during the period was 119.9%, an increase of 46.3% from the previous year, which affected the company’s performance. Operating cash flow dropped by 99.6% to 5.89 billion yuan. From the perspective of business structure, “financial trust” is the main source of corporate operating income. The operating income of “financial trust” is 2.34 billion yuan, accounting for 63.8% of revenue, and gross profit margin of 100%.