For fiscal year 2021 ending December 31, 2021, Dinglong predicts that net profit attributable to parent company will be RMB208.44 million to 238.16 million (US$ 32.81 million to 37.49 million), while that of last fiscal year turned out to be a loss of RMB159.82 million(US$25.16 million).
Net profit after deduction of non-recurring gains and losses will be RMB190.43 million to 220.16 million (US$29.97 million to 34.65 million). Last fiscal year, the number was -273.21 million (US$ -43.00 million).
Dinglong revealed that such improvements are mainly driven by good performances seen from the pan-semiconductor materials business and the printing consumables business.
Operating income of the printing consumables increased significantly too compared to last year, however, due to competition, overall gross profit is slightly less than that of the last year. Operating income and profit of printer chips increased year-on-year, and operating income of remanufactured ink cartridges increased slightly year-on-year. Toner cartridge sales reached a high record , however, overall profit was slightly down compared to last year.
During the reporting period, the company’s exchange losses and equity incentive expenses had an impact on the net profit attributable to shareholders of the listed company.
Dinglong also predicted that non-recurring gains and losses for fiscal year 2021, mainly in government subsidies, would be RMB 18 million(RMB 2.83 million).
Established in 2003 in Zhuhai, China, Mito Color Imaging Co. Ltd is a high-tech enterprise that has specialized inresearch and development, remanufacturing and sales of colour laser toner cartridges. Mito is one of the largest professional colour remanufacturing companies in the world to provide consistent, quality products.
In 2013, Mito became the first Chinese public company to produce compatible laser toner cartridges in the printer consumables industry after being acquired by Hubei Dinglong Company Limited and is now a significant part of DingLong Group’s integrated supply chain taking advantage of its upstream resources.