Fujian "Phoenix Bamboo Textile" Announces Announcement Of Resolution Of Board Of Directors
Fujian
Phoenix Bamboo textile
In September 14, 2010, the Polytron Technologies Inc convened the four three board of directors by fax. The meeting considered and agreed to the company's Hedging Business (cotton futures only traded on the Zhengzhou Mercantile Exchange): the number of hedging companies should not exceed the actual number of spot pactions in principle, and futures positions should not exceed hedging.
Spot quantity
In the whole fiscal year of 2010, the company estimated that the futures margin balance of a single year or a year should not exceed 30 million yuan (including 30 million yuan, excluding the full margin paid for the current position of delivery).
Cotton futures
Hedging should not exceed 7000 tons.
Review:
During the reporting period, the company achieved operating income of 687 million 750 thousand yuan, with a total profit of 23 million 580 thousand yuan. The net profit attributable to the parent company's owners was 18 million 670 thousand yuan, an increase of -3.96%, 259.58% and 262.23% over the same period last year, and the basic earnings per share were 0.1098 yuan, up 262.38% over the same period last year.
The company said that during the reporting period, the company further strengthened internal management, improved product quality, adjusted product mix and expanded overseas markets, thereby maintaining normal operation of the company.
In 2009, the main business of the company declined a little from the same period last year. The main reasons are as follows: first, in May 2009, the company pferred the share pfer of the original controlling shareholder, Fujian's phenanthrene garments limited liability company, and its operating results no longer merged into the company, resulting in a decrease in the main business income. Secondly, as the business of the peripheral dyeing and printing enterprises decreased, the sewage discharged from the company decreased correspondingly, resulting in a decrease in the sewage treatment income of the company in 2009.
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