Red Avenue New Materials Group Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2021
April 20, 2021 at 09:27 am EDT
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Red Avenue New Materials Group Co., Ltd. announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced sales was CNY 574.381 million compared to CNY 456.873 million a year ago. Operating income was CNY 173.293 million compared to CNY 71.316 million a year ago. Net income was CNY 145.375 million compared to CNY 63.523 million a year ago. Basic earnings per share from continuing operations was CNY 0.25 compared to CNY 0.11 a year ago.
Red Avenue New Materials Group Co., Ltd. is a China-based company principally engaged in the research, development, production, sales and trading of fine chemical materials. The Company's main products are phenolic resins for rubber, including tackifying resins, reinforcing resins and adhesive resins. The Company's products are mainly applied in tires, as well as hoses, adhesive tapes, rubber shoes and other rubber products. The Company is also engaged in the trading of homogenizers, tackifying resins, adhesives, cobalt salts, white carbon, protective waxes, environmentally friendly oils and other processing aids.