Xinwangda: net profit of half year in 2020 will drop 97% year on year

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On the evening of August 6, Xinwangda (300207) released its semi annual performance report, with an operating revenue of 11.51 billion yuan, a year-on-year increase of 6.02%; the net profit attributable to the shareholders of the listed company was 5.8824 million yuan, a year-on-year decrease of 97.43%; the net loss attributable to the shareholders of the listed company after deducting non recurring profit and loss was 65.9136 million yuan, with a profit of 162 million yuan in the same period of last year; and the basic earnings per share was 0.00 yuan.
1 novel coronavirus pneumonia in the first quarter has adverse effects on the company’s operation; (2) amortization of equity incentive fees; (3) in the first quarter, the international exchange rate market fluctuated greatly due to the epidemic situation, and the India subsidiary’s loss due to the rupee depreciation brought great exchange losses to the company. 4) The electric vehicle battery sector continued to invest and did not achieve profit.
Xinwanda is mainly engaged in the R & D and production of lithium-ion battery modules. Its main customers are “huami ov”, etc. it participates in the supply chain of TWS wireless headphones as well as ricent precision, providing wireless headset batteries.