Xinlong Holdings relied on selling its subsidiaries last year to turn losses and deduct non-net profits for 15 years in a row

Xinlong Holdings relied on selling its subsidiaries last year to turn losses and deduct non-net profits for 15 years in a row
On April 29, Xinlong Holdings released its 2019 annual report.In 2019, Xinlong Holdings achieved operating income of approximately 7.34 trillion US dollars, an average of 1 per year.23%; net profit attributable to shareholders of listed companies is about 482.60,000 yuan, an increase of 104 per year.44%; net profit attributable to shareholders of listed companies to replace non-recurring gains and losses is approximately -3834.390,000 yuan, an annual increase of 65.49%.Since then, Xinlong Holdings’ net profit attributable to shareholders of listed companies has been in non-recurring gains and losses for 15 consecutive years.The specific business content of Xinlong Holdings includes four parts: research and development, manufacturing and sales of non-woven materials such as spunlace and melt spinning; research and development, processing and sales of medical and hygiene products, household cleaning products, personal care products, beauty and cosmetic products, travel products, etc.Non-woven deep-processed products; excavation of traditional Chinese medicine prescriptions and research and development of traditional Chinese medicine preparations for chronic diseases of the cardiovascular system, traditional Chinese medicine medical services and sales of pharmaceutical drugs; trading business of petroleum, natural rubber and other products.In addition, Xinlong Holdings spun off its phosphorus chemical business in April 2019.From a business perspective, the profitability of Xinlong Holdings’ main business in 2019 has not improved much, and it is possible to turn losses into profits, thanks to the sale of subsidiaries.On December 19, 2019, Xinlong Holdings sold 60% of its wholly-owned subsidiary Yichang Xinlong Melt Spinning New Material Co., Ltd., generating an investment income of 3001.680,000 yuan.In 2020, the main business plan of Xinlong Holdings is: reorganization will focus on the development of the main non-woven main business, and will gradually actively explore the layout opportunities of key industries related to the construction of Hainan Free Trade Port.The impact of the new Coronary Pneumonia outbreak in early 2020 on the industrial textile industry tended to be bipolar.The business of the enterprises producing materials to fight the epidemic is in good condition, and the demand has increased significantly, while enterprises in other fields have been affected to varying degrees.It is reported that in the first quarter of 2020, Xinlong Holdings expects net profit attributable to shareholders of listed companies to be 40 million to 60 million yuan, an increase of 1027 over the same period last year.94% to 1591.90%.“In the first quarter of 2020, the company ‘s operating performance continued to increase over the same period of the previous year. It was ultimately affected by the new coronary pneumonia epidemic. The market demand for non-woven fabrics for medical and sanitary protection materials produced by the company increased.Fully cooperating with the government’s epidemic prevention and control work, working overtime to organize the production of protective materials and raw materials needed for the epidemic, the production and sales continued to increase, and the company’s operating income and gross profit during the reporting period increased significantly over the same period of the previous year.Xinlong Holdings explained.Reporter Yan Xia editor Sun Yong proofreading Chen Diyan