Far east drive's net profit in 2019 was 274 million yuan, up 1% from the previous year

On February 27, far eastern transmission recently released the 2019 annual performance express announcement. The total revenue in 2019 is 1.756 billion yuan, up 2.11% over the same period last year. The net profit attributable to shareholders of the listed company was 274 million yuan, an increase of 1.03% over the same period last year.

The announcement shows that the total assets of far east transmission are 3.997 billion yuan, an increase of 42.44% over the beginning of this report. Basic earnings per share were 0.49 yuan, compared with 0.48 yuan a year earlier.

It is learned that during the reporting period, the company realized the operating revenue of 1,755,949,100 yuan, a year-on-year growth of 2.11%; The net profit attributable to shareholders of the listed company was 27,414,400 yuan, up 1.03% year on year; The net profit after deducting non-recurring profits and losses attributable to shareholders of the listed company was 24,749,100 yuan, up 11.05% year on year. Main factors affecting the performance: the change of net profit after deducting non-recurring profits and losses attributable to the shareholders of the listed company is mainly due to the year-on-year growth of the output of heavy Trucks and construction machinery in China in 2019, the high gross margin of heavy Trucks and construction machinery products, and the company's cost reduction by optimizing some production processes; The change of net profit attributable to shareholders of listed companies is mainly due to the decrease of non-recurring profit and loss.

At the end of the report, the total assets of the company were 39,671,800 yuan, an increase of 42.44% compared with the beginning of the report. The main reason was that the company issued convertible bonds and received the raised funds. The owner's equity attributable to the shareholders of the listed company was RMB 2,895,164,700, an increase of 18.70% over the beginning period.

Data show that the main business of far east transmission is the research and development, production and sales of non-constant speed transmission shaft and related parts.

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