Narada Power sees net profit up by 62% to RMB330 milion in 2016
2017-02-28 18:07:50 [Print]
Narada Power released preliminary annual report on the evening of February 26 that the company has achieved operating revenue of RMB7.149 billion in 2016, up by 38.73% YOY; net profit was RMB330 million, up by 62% YOY.
During the reporting period, the company saw lithium battery sales up by about 40%. Noticeably, Huabo Technology, the holding subsidiary of Narada Power, achieved operating revenue up by about 70% YOY. With rapidly increasing lead prices in H2 2016, the gross profit margin of secondary lead rose significantly and Huabo Technology saw net profit of about RMB380 million, up by about 230% YOY, attributing net profit of about RMB190 million to listed company.
During the reporting period, the company saw lithium battery sales up by about 40%. Noticeably, Huabo Technology, the holding subsidiary of Narada Power, achieved operating revenue up by about 70% YOY. With rapidly increasing lead prices in H2 2016, the gross profit margin of secondary lead rose significantly and Huabo Technology saw net profit of about RMB380 million, up by about 230% YOY, attributing net profit of about RMB190 million to listed company.
Lead Ingot Secondary 99.994%min Ex-VAT EXW China
Unit:RMB/mt
China secondary lead producers' inventory statistics by province by month
Unit: mt
