Panel income increases significantly Caihong shares H1 net profit pre-profit 2.7 billion yuan to 2.9 billion yuan

On the evening of July 21, Rainbow shares issued a performance forecast that the net profit attributed to shareholders of listed companies in the first half of 2021 is expected to be 2.7 billion yuan to 2.9 billion yuan, while the net profit attributable to shareholders of listed companies after deducting non-recurring profits and losses is 2.65 billion yuan to 2.85 billion yuan.

In the same period last year, the net profit loss belonging to the shareholders of the listed company was 1.678 billion yuan, and the net profit loss belonging to the shareholders of the listed company after deducting non-recurrent gains and losses was 1.703 billion yuan.

Rainbow shares pointed out that the production efficiency of the company's liquid crystal panel and substrate glass production line increased, product production and sales increased; benefiting from the rise in the price of liquid crystal panel products, panel income increased significantly, and profitability continued to improve significantly; the glass substrate business made a profit during the reporting period, and the overall operating performance increased significantly.

The performance loss in the same period last year was mainly due to the low price of LCD panels and the company's provision for a large amount of impairment of assets related to the holding subsidiary, with a low base in the same period last year and a large increase in operating performance in the reporting period.

It was reported in the first quarter of 2021 that its revenue was 3.993 billion yuan, an increase of 126.44% over the same period last year, and the net profit attributed to shareholders of listed companies was 1.111 billion yuan, compared with a loss of 581 million yuan in the same period last year.

Rainbow said that revenue growth is mainly due to the rebound in LCD panel prices; liquid crystal panel and substrate glass production line yield improvement, increased production capacity, product production, sales growth, a substantial increase in sales revenue, a corresponding increase in the total cost of sales. The production efficiency of liquid crystal panel and substrate glass production line has been improved, and the single-line production capacity has been greatly improved; with the continuous promotion of cost reduction, the operating cost of the production line has been continuously reduced, and the unit cost of the product has been significantly reduced.