At noon on October 28, Zhejiang Longsheng released its third quarter report for 2021. In the third quarter, the company achieved operating income of approximately 4.153 billion yuan, a year-on-year increase of 12.24%. The net profit attributable to shareholders of listed companies was approximately 482 million yuan, a year-on-year decrease of 45.91%. Achieved basic earnings per share of 0.1463 yuan, a year-on-year decrease of 48.25%.
Regarding the reasons for the change in performance, Zhejiang Longsheng said that during the reporting period, the year-on-year increase in net cash flow generated from operating activities was mainly due to the year-on-year increase from the beginning of the year to the end of the reporting period. This is due to the fact that the pre-acquisition of houses in the company’s real estate business increased significantly compared with the same period last year.
According to data, Zhejiang Longsheng was founded in 1970 and is the world’s largest textile chemical production and service provider. Its dye production capacity ranks first in the world. In 2010, Longsheng began to control the voice of the dye industry by launching a debt-for-equity swap to control DyStar Global. In the world’s major dye markets, Zhejiang Longsheng has more than 30 sales entities, serving 7,000 customers, accounting for nearly 21% of the global market share. It has sales and technical support in all key markets and operates in 50 countries. It has agencies and 18 factories in 12 countries.
In recent years, the company’s dye business has extended to intermediates, and at the same time, cross-border mergers and acquisitions have attempted to diversify the business. At present, Zhejiang Longsheng has expanded from a single dye product to other special chemicals, expanded to the production of related intermediates such as resorcinol and p-phenylenediamine, integrating and extending the upstream of the dye supply chain. </p
