Weiqiao Textile (02698) In 2020, The Profit Attributable To Shareholders Decreased By 6.19% To 205 Million Yuan

Weiqiao textile (02698) announced that in 2020, the company realized RMB 12.743 billion, a year-on-year decrease of 15.98%, the profit attributable to shareholders was RMB 205 million, a year-on-year decrease of 6.19%, the basic earnings per share was RMB 0.17, and the final dividend per share was RMB 0.061.

The announcement said that the decline in revenue was mainly due to the adverse impact of the epidemic situation, downstream enterprises' resumption of work and production was delayed, and the textile market at home and abroad continued to be weak, which led to a decline in demand for textiles and a decline in product prices, resulting in a corresponding decrease in the group's three categories of textile revenue. The decrease in profit was mainly due to the decrease in electricity sales, resulting in a corresponding decrease in profits from the power business.