Jinan Acetate Chemical Co., Ltd. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 12, 2020 at 05:58 pm EDT
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Jinan Acetate Chemical Co., Ltd. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced sales was TWD 543.738 million compared to TWD 549.330 million a year ago. Operating income was TWD 122.600 million compared to TWD 107.601 million a year ago. Net income was TWD 98.032 million compared to TWD 56.223 million a year ago. Basic earnings per share was TWD 1.96 compared to TWD 1.11 a year ago. For the half year, sales was TWD 1,068.030 million compared to TWD 1,007.070 million a year ago. Operating income was TWD 227.966 million compared to TWD 160.280 million a year ago. Net income was TWD 224.198 million compared to TWD 125.876 million a year ago. Basic earnings per share was TWD 4.46 compared to TWD 2.49 a year ago. Diluted earnings per share was TWD 3.95 compared to TWD 2.49 a year ago.
Jinan Acetate Chemical Co., LTD. is an acetate tow manufacturer. The Company and its subsidiaries are principally engaged in research and development, manufacturing and sale of acetate tow. The Company's main product is cellulose acetate tow, which is applied in filters, reverse osmosis films, hollow fibers, acetate fibers for textile, and other fileds.