Despite market performance in China remaining unstable, Hong Kong-based Yingde Gases Group established a solid foundation to weather the storm in the first half of 2016, and recorded stable revenue growth in leveraging on its “extensive market experience and business strategy.”
As of 30th June 2016, the group recorded revenues of RMB 4.14bn ($622m) – a 9% increase from the corresponding period in 2015. The company attributed the growth to the commissioning of four additional on-site gas production facilities but pointed out that the growth in gross profit was partially offset by the decline in merchant unit prices.
As such, Yingde reached a gross profit total of RMB 1.27bn ($190.9m) and an overall profit margin of 30.7% in its 2016 first-half results.
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