QI Revenue Nearly 700 Million Cangzhou Pearl Lithium Battery Continues To Expand Production

- Apr 25, 2017-

April 25, Cangzhou Pearl released the first quarter of 2017 report. Data show that the first quarter of Cangzhou Pearl to achieve revenue of 699 million yuan, an increase of 208 million yuan, an increase of 42.53%; attributable to shareholders of listed companies net profit of 137 million yuan, an increase of 33.6198 million yuan, an increase of 32.44%.

In addition to the strong momentum of 2016, the report, Cangzhou Pearl once again stressed that its annual output of 60 million square meters of wet lithium-ion battery separator project has been put into production.

The project shows that the project mainly includes two wet diaphragm production lines, plant and ancillary facilities and process equipment investment, construction period of 24 months, the total investment of about 320 million yuan, self-financing by the enterprise. The main body of the construction of Cangzhou Pearl, a wholly owned subsidiary of Texas East Hong film Technology Co., Ltd.

Up to now, the project's first production line has been officially put into production, the second production line into the trial production stage.

In the report, Cangzhou Pearl expects the net profit attributable to shareholders of listed companies to be RMB257 million from January to June in 2017. The estimated net profit margin is 5% -20% and the net profit fluctuates in the range of RMB 270 billion to RMB 3.08 billion.

The main reasons for the forecast changes are PE pipe products, BOPA film products and wet lithium-ion battery separator products increased sales, sales revenue growth.