Jiangsu Sunshine (600220): Net Profit In The First Half Of The Year Increased By 726.49%

Jiangsu Sunshine (600220) released the semi annual report of 2022 on the evening of August 25. The company realized revenue of 894 million yuan in the first half of 2022, with a year-on-year growth of 9.55%; The net profit attributable to the parent company was 50.62 million yuan, with a year-on-year increase of 726.49%; After deducting the non net profit of 40.98 million yuan, the year-on-year increase was 1496.46%; The basic earnings per share was 0.0284 yuan.

The main business income of textile business was 743 million yuan, an increase of 21.18% over the same period of last year. The cost of main business was 526 million yuan, an increase of 13.45% over the same period of last year. The gross profit rate was 29.23%, an increase of 4.83 percentage points over the same period of last year. By region, the income from domestic sales was 480 million yuan, an increase of 3.58% over the same period of last year, and that of export sales was 263 million yuan, an increase of 75.64% over the same period of last year.

The main business income of thermal power business was 115 million yuan, a decrease of 34.74% compared with the same period of last year. The cost of main business was 155 million yuan, decreased by 15.57% compared with the same period of last year, and the gross profit rate was - 34.87%, a decrease of 30.62 percentage points compared with the same period of last year. The decrease in operating income and operating cost is mainly due to the fact that the subsidiary huangtang thermal power originally produced and sold electricity and steam. In February 2021, according to the relevant requirements of Jiangyin municipal Party committee and government, Huaneng Thermal Power Co., Ltd. provided Huaneng thermal power with the right to use the assets and market operation right of heating pipe network and necessary supporting facilities. Huaneng thermal power paid compensation income to huangtang thermal power at 22 yuan per ton of steam (excluding tax). At the same time, the price of raw material coal is still at a relatively high level, and the operating income and profit of thermal power business in this period decreased.