Jilin Chemical Fiber's profits for Q3 slips year on year

On October 31, Jilin Chemical Fiber (000420) released its report for the third quarter of 2019: operating revenue was 632143554.21 yuan, down 2.91% year on year. Net profit attributable to shareholders of listed companies was 10995829.54 yuan, down 77.66% year on year.

From the beginning of 2019 to the end of the reporting period: the operating revenue was 1949365537.88 yuan, with an increase of 0.23% compared with the same period of last year. Net profit attributable to shareholders of the listed company was 81751705.40 yuan, slipped by 36.13% year on year.

The announcement showed that total assets were 8059531241.47 yuan at the end of the reporting period, up 12.87% compared with the end of the previous year.

From the beginning of 2019 to the end of the reporting period, the net cash flow generated by operating activities reached 44127643.55 yuan, rose by152.15% from the same period of last year. Basic earnings per share was at 0.01 yuan/share.

It is understood that the current performance declined year on year, mainly because of the provision for bad debts and increase in financial costs.