Guiyan Platinum Industry: net profit of 135 million yuan in the first quarter increased by 318% compared with the same period last year

Published: Apr 28, 2020 16:40 (GMT+8)

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SMM4, April 28: Guiyan Platinum Industry disclosed a quarterly report on April 28. The company's operating income for the first quarter of 2020 was 5.066 billion yuan, up 2.34 percent from the same period last year, and its net profit was 135 million yuan, up 318.37 percent from the same period last year.

The company continues to plough precious metals new material manufacturing, secondary resource recovery and supply services of the three major business sectors. During the reporting period, business profits such as automotive catalysts, recycling of precious metal resources and precious metal supply services increased. The company is a national high-tech enterprise and a national innovative enterprise. In 2019, the company's R & D investment increased by 83.48% compared with the same period last year, reaching 155 million yuan. The integrated circuit splash gold achieved mass production, and the national six standard automobile catalyst was developed to achieve stable batch supply.

With the promotion of the six standards, the company is expected to continue to benefit: according to the original plan, the 6A standard will be popularized nationwide in July 2020, and the stricter 6B standard will be popularized in 2023. Although the implementation of the sixth National Standard may be delayed, it is still the trend of the times. Guiyan Catalysis, a subsidiary of the company, invested 66.87 million yuan in the national sixth upgrading project of the motor vehicle catalyst production line in November 19, and is expected to be put into production in December 2020. 2.15 million pieces of Guojiu catalyst production line will be added after completion, and the company is expected to continue to benefit.

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