Jinan Acetate Chemical Co., Ltd. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 12, 2020 at 04:59 pm EST
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Jinan Acetate Chemical Co., Ltd. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was TWD 620.647 million compared to TWD 561.260 million a year ago. Operating income was TWD 128.873 million compared to TWD 98.219 million a year ago. Net income was TWD 81.133 million compared to TWD 101.638 million a year ago. Basic earnings per share from continuing operations was TWD 1.62 compared to TWD 2.01 a year ago. For the nine months, sales was TWD 1,688.677 million compared to TWD 1,568.330 million a year ago. Operating income was TWD 356.839 million compared to TWD 258.499 million a year ago. Net income was TWD 305.331 million compared to TWD 227.514 million a year ago. Basic earnings per share from continuing operations was TWD 6.09 compared to TWD 4.5 a year ago. Diluted earnings per share from continuing operations was TWD 5.71 compared to TWD 4.5 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.