Huamao Shares (000850): Net Profit In The First Half Of 270 Million - 320 Million Increased By 142% During The Same Period

On July 12th, Huamao stock (000850) (000850) recently released its performance forecast for the first half of 2019, with a net profit of up to 320 million yuan, up 142.04% from the same period last year.

Notice shows that from January 1, 2019 to June 30, 2019, net profit attributable to shareholders of listed companies was 270 million yuan to 320 million yuan, an increase of 104.23% to 142.04% over the same period last year.

It is understood that during the reporting period, the company realized the proceeds from the sale of some shares held by Guotai Junan Securities and the investment income recognized by the companies participating in dividends according to the accounting standards, which increased the net profit attributable to shareholders of listed companies.

Since January 1, 2019, the company has implemented the new accounting standards for financial instruments. The financial assets of Guotai Junan, GF Securities (000776), Tuwei information (002261), and Internet software, which were originally included in the fair value of the sale of financial assets, were reclassified to account for the financial assets that were measured at fair value and included in the current profits and losses. During the reporting period, the increase in the fair value of the class financial assets is attributable to the net profit of the shareholders of the listed company.

Statistics show that Huamao stock focuses on pure, blended yarn and its fabrics, knitwear, clothing, printing and dyeing of cotton, wool, linen, silk and man-made fibers; sales of textile equipment and accessories, home textiles, and investment management. Our products include yarn series, grey fabric series, yarn dyed fabric series and functional industrial cloth.