Hengsheng Energy Co., Ltd Reports Earnings Results for the Nine Months Ended September 30, 2021
October 29, 2021 at 04:04 am EDT
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Hengsheng Energy Co., Ltd reported earnings results for the nine months ended September 30, 2021. For the nine months, the company reported sales was CNY 507.93 million compared to CNY 362.59 million a year ago. Revenue was CNY 507.93 million compared to CNY 362.59 million a year ago. Net income was CNY 89.92 million compared to CNY 78.65 million a year ago. Basic earnings per share from continuing operations was CNY 0.58 compared to CNY 0.52 a year ago. Diluted earnings per share from continuing operations was CNY 0.58 compared to CNY 0.52 a year ago.
Hengsheng Energy Co Ltd is a China-based company engaged in cogeneration of heat and power. The Company operates two major product segments: The Coal-Fired Cogeneration segment and The Biomass Hotspot Cogeneration segment. The Company is engaged in the combined heat and power business in the planned heating area, and its main products are steam and electricity. The Company uses coal and biomass as raw materials to produce steam and electricity through cogeneration. The steam is mainly supplied to papermaking, textile printing and dyeing, furniture manufacturing, food emulsion and other enterprises in the industrial park. The electricity produced is mainly sold to end users of the State Grid. The Company distributes its products within the domestic market.