Newly-built cast pipe net profit of 392 million in the first quarter increased by 23%

Xinxing Ductile Iron Pipe Co., Ltd. disclosed the performance report in the evening of April 7. The company achieved a net profit of 392 million yuan in the first quarter, a year-on-year increase of 23.18%; earnings per share was 0.2 yuan.

The company stated that the growth of its performance was due to the fact that 40% of the equity of Xinxing Pipe (Xinjiang) Resources Development Co., Ltd., which was acquired during the reporting period, was included in the scope of consolidation and the increase in equity income from the increase in the shareholding of Xinjiang Gent Iron & Steel Co., Ltd., and the owner of the company. The sales price and gross profit of the camp products have increased.