After officially listing on the National Equities Exchange and Quotations of the new ‘Third Board’ in Beijing in late 2014, Suzhou Jinhong Gas Co. Ltd (Jinhong Gas) has released its first full year financial report.
The company declared total operating revenue for 2014 of RMB 517m ($83m approx.), an almost 17% increase from RMB 442.5m ($71m approx.) in 2014.
Gross profit in 2014 stood at RMB 55.4m (2013: RMB 73.5m) and net profit at RMB 46.5m (2013: RMB 61m). Net profit attributable to shareholders of the listed company (RMB 46.3m) fell just over 24% compared to 2013. However, when non-recurring gain and loss is omitted, net profit stood at RMB 41.4m, a 69% jump over 2013.
As Jinhong Gas explained in its official report, the drop in the net profit was attributable to the sale of equity in a subsidiary company in the Suzhou Industrial Park in 2013.
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