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On Oct. 30, King Long released its third quarter financial report, showing that the company’s business revenue stood at 17.395 billion RMB from Jan. to Sept., up by 16.2% year on year. Its net profits attributable to listed equity shareholders reached 269 million RMB, up by 99.2% compared with that in the same period last year.
It is also revealed by the report that the increase of its operating profits, total profits, net profits and net profits attributable to listed equity shareholders can be attributed to the following two reasons. First, its business revenue went up by 16.2% year on year and its gross profit margin rose by 3.50 percentage points compared with that in the same period last year. Second, in the first three quarters this year, King Long completed its purchase of 100% equity of Xiamen Chuangcheng Environmental Protection Technology Co., Ltd. And it also transferred 15% equity of Xiamen CCRE Group Finance Co., Ltd. Thus, its net profits attributable to listed equity shareholders went up by 57 million RMB.