China Carbon Graphite Group, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 23, 2020 at 04:45 pm EST
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China Carbon Graphite Group, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was USD 91,494 compared to USD 200,018 a year ago. Net loss was USD 56,949 compared to net income of USD 16,977 a year ago. For the nine months, sales was USD 352,909 compared to USD 258,856 a year ago. Net loss was USD 173,054 compared to USD 174,101 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago.
China Carbon Graphite Group, Inc., formerly Achievers Magazine Inc., is engaged in the manufacturing of graphene, graphene oxide and graphite bipolar plates products. The Company also operates a business-to-business and business-to-consumers Internet portal, www.roycarbon.com, for graphite related products. Vendors can sell raw materials, industrial commodities and consumer (household) commodities to both business and consumers through the Website by paying a fee for each transaction conducted through the Website. Its business scope includes manufacturing and selling primarily the graphite products. The Company's customers primarily include international customers, which generally purchase products pursuant to purchase orders. The Company does not enter into long-term contracts with its customers. Its subsidiaries include Talent International Investment Limited, XingheYongle Carbon Co., Ltd., Golden Ivy Limited and Royal Elite International Limited.
CHINA CARBON GRAPHITE GROUP, INC. 
