Lizhong Sitong Light Alloys Group Co., Ltd. Reports Earnings Results for the Half Year Ended June 30, 2022
July 31, 2022 at 03:33 am EDT
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Lizhong Sitong Light Alloys Group Co., Ltd. reported earnings results for the half year ended June 30, 2022. For the half year, the company reported sales was CNY 9,893.61 million compared to CNY 8,417.15 million a year ago. Revenue was CNY 10,051.74 million compared to CNY 8,665.29 million a year ago. Net income was CNY 276.97 million compared to CNY 275.48 million a year ago. Basic earnings per share from continuing operations was CNY 0.45 compared to CNY 0.47 a year ago. Diluted earnings per share from continuing operations was CNY 0.45 compared to CNY 0.47 a year ago.
Lizhong Sitong Light Alloys Group Co Ltd, formerly Hebei Sitong New Metal Material Co Ltd, is a China-based company mainly engaged in the provision of new light alloy materials and lightweight automotive parts. The Company mainly operates three reporting segments, Functional Master Alloy New Material segment, Aluminum Alloy Wheel Lightweight segment, Cast Aluminum Alloy and other Business segment. The Company mainly provides three major businesses: functional master alloy new materials, cast aluminum alloy materials and aluminum alloy wheel products. The Company's products are widely used in automotive, high-speed rail, aerospace, military, power and electrical appliances, 5G communications, consumer electronics, industrial and architectural aluminum profiles, food and medicine packaging and other fields.