On February 27, Double Arrow announced its annual report for 2018. Its operating income was RMB 1,358 Million Yuan, with a year-on-year (the same below) increase of 19.36%; and operating profit was RMB 183 Million Yuan, with an increase of 49.53%.
In 2017, due to factors such as sharp fluctuations in rubber prices, the gross profit level of the company’s products declined compared with previous years. In 2018, the company adhered to the business philosophy of expanding market by innovation, attracting investment by high quality, consolidating foundation by integrity, and stimulating development by mutual benefit. The production of various conveyor belts totaled 42.27 million square meters, with an increase of 12.29%; sale of various conveyor belts was 41.65 million square meters, with an increase of 13.51%.
At the same time, the company continued to improve technological content of products. Newly-developed products were recognized by customers, such as ceramic conveyor belts with high wear resistance, ropeway conveyor belts, conveyor belts with high temperature resistance, tubular conveyor belts, etc. The rubber conveyor belt it provided for “Air Transport Corridor” project of Huzhou South Logistics Co., Ltd., is 22 kilometers long. It is the longest high-temperature resistant, fully enclosed and fully overhead conveyor belt in China. The project has been officially put into operation, changing the traditional way of road transportation and achieving “zero emission” transportation.
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