The Volume And Price Of Products Rose To Boost The First Quarter Performance Of Australia Ocean Technology Co., Ltd.

Australian ocean technology benefited from the rebound of viscose fiber industry. The production and sales volume and price of products increased substantially in the first quarter of 10, and net profit increased by 562.35% over the same period last year.

Australian technology released a quarterly report in April 29th. In 2010 1-3, the company achieved operating income of 1 billion 16 million yuan, an increase of 242% over the same period last year. Net profit attributable to shareholders of listed companies was 57 million 541 thousand and 200 yuan, an increase of 562.35% over the same period; earnings per share were 0.17 yuan, 2.91 yuan net assets per share and 5.85% of net assets yield.

In the first quarter, the production and sales of viscose staple fiber and its main products increased substantially compared with the same period in 08 years, driving business revenue to grow by 242% compared to the same period last year. At the same time, the increase in operating costs was lower than the increase in operating income, and the gross profit margin of products increased.

Viscose fiber production and sales is booming, but the gross profit margin has decreased.

In the past 09 years, the new Australian special fiber 50 thousand ton / year viscose staple fiber project and the Funing Australian ocean 80 thousand ton / year viscose staple fiber project have been put into operation. The viscose staple fiber production capacity reaches 240 thousand tons, second only to Zhejiang's richda and Shandong Hailong, living in third of the industry, and the market share will be increased from 10% to 16.5%.

The production capacity of viscose staple fiber increased from 90 thousand tons to 170 thousand tons.

In the first quarter of 10, due to the impact of new production capacity, the production and sales of viscose staple fiber were much higher than that of the same period in 09 years. Meanwhile, the price of viscose fiber was also rising, rising from 18900 yuan / ton at the beginning of the year to 20200 yuan / ton, and the company's operating income increased significantly.

However, as the main raw material cotton lint prices rose rapidly, the gross margin of the company declined, from 21.45% in the fourth quarter of 09 to 18.07%.

During the period, the cost of the company increased rapidly, and the sales cost reached 45 million 973 thousand and 200 yuan, an increase of 183.38% over the same period. The main reason is that the sales of viscose staple fiber is higher than that of 09 years, and the pportation cost is increased. The management cost is 26 million 933 thousand and 900 yuan, up 59.45% compared with the same period last year, mainly due to the increase in the scale of the new project and the increase in depreciation. The financial cost is 17 million 320 thousand yuan, an increase of 55.42% over the same period.

In 2010, the viscose staple fiber industry boom will remain relatively high, and the company's earnings will continue to grow.

In terms of demand, domestic textile and garment exports have recovered markedly. In the two months 10 years ago, China's textile exports amounted to US $10 billion 159 million, an increase of 39.43% over the same period last year, of which exports amounted to US $4 billion 578 million in February, an increase of 78.60% over the same period last year. The monthly export growth rate has been expanding since November. The export volume of our garments in the two months of 10 years ago was 18 billion 83 million US dollars, an increase of 23.71% over the same period last year, of which the export volume in February was 8 billion 97 million dollars, up by two over the same period last year.

At the same time, domestic sales of textile and clothing are better than 09 years, and viscose fiber demand is still strong.

The rising price of raw materials is the main difficulty facing the company.

As the downstream demand is strong, the cost of viscose fiber industry can be pferred to the downstream through price increase, and viscose staple fiber is expected to maintain a higher gross profit margin.

It is worth noting that the company also announced an additional plan to raise net proceeds of not more than 265 million yuan, for the acquisition of new Australian special fiber 60% stake, artificial fiber engineering technology R & D center construction projects and supplementary liquidity.

The new Australia fiber has 50 thousand tons / year differential viscose staple fiber production line, which was completed in 09 in March and has reached production.

In the 09 year and the first quarter of 10, the new Australian special fiber revenue reached 394 million yuan and 140 million yuan respectively, and the net profit was 32 million 462 thousand and 800 yuan and 5 million 150 thousand yuan respectively.

At present, the company holds 40% stake in the new Australia special fiber company, and plans to invest 180 million yuan to acquire the remaining 60% stake. After the acquisition is completed, the staple fiber staple production capacity will increase by 30 thousand tons, and the total equity production capacity will reach 200 thousand tons.

With the rapid expansion of the company's scale of operation, the company's assets and liabilities ratio reached 64.51% at the end of the 10 quarter, and the company can reduce the financial risk by raising funds to supplement the working capital.

In the 09 year, the company achieved operating income of 2 billion 340 million yuan, an increase of 43.18% over the same period last year, a total profit of 258 million yuan, an increase of 170.13% over the previous year, a net profit of 161 million yuan attributable to shareholders of listed companies, an increase of 157.77% over the previous year, 0.46 yuan per share, 2.74 yuan of net assets per share, and 18.42% of net assets yield.