Zhejiang Longsheng (600352): Net Profit In The First Half Of The Year Decreased By 43.56%

Zhejiang Longsheng (600352) disclosed the semi annual report of 2022 on the evening of August 19. During the reporting period, the company achieved revenue of 9.075 billion yuan, a year-on-year increase of 7.87%; The net profit attributable to the parent company was 1.425 billion yuan, down 43.56% year on year; After deducting the non net profit of RMB 1.159 billion, a year-on-year decrease of 16.23%; The basic earnings per share was 0.4387 yuan.

During the reporting period, the international environment was still complex and severe. The accumulated inflationary pressure, geopolitical conflicts, increased instability and uncertainty, as well as repeated domestic epidemic effects, reduced the downstream terminal demand of the company's dyestuff industry and greatly reduced the profit margin of the dye industry. Although the company's main intermediate industry has a small amount of external new production capacity, the market competition pattern has not changed significantly. Whether in the domestic or global market, the company remains the industry leader.

The reasons for the decrease of net profit, basic earnings per share and diluted earnings per share attributable to shareholders of listed companies are mainly caused by the increase in the cost of various raw materials, the decrease in the selling price of main intermediate products, and the decrease in the fair value of invested stocks and PE projects and the decrease of equity investment income.