Zhejiang Double Arrow Rubber Co., Ltd. released the third quarterly forecast on October 11, showing that its net profit attributable to shareholders of the listed company was expected to rise by 50% ~70%.
it attributable to shareholders of the listed company in the three quarters would be in the range of 180 Million Yuan to 204 Million Yuan, an increase of 50% to 70% than that of the over 120 Million Yuan in previous year. This would be another increase nearly by the same proportion in the three quarters based on a profit growth of 68.35% year-on-year disclosed in the semiannual report of Double Arrow.
According to Double Arrow, the year-on-year growth came from the closing down of outdated production facilities in rubber conveyor belt industry and the continual increase of industry concentration. Thus, the company could make full use of its advantages in scale, technology, management, etc. to adjust product structure and occupy the high-end market. As the gross profit rate of high-end products is higher than that of the volume zone, the increase in proportion will make further increase on the gross profit rate of product sales and thus the corporate profitability is also further enhanced.
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