Red Avenue New Materials Group Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2020
April 15, 2021 at 07:18 am EDT
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Red Avenue New Materials Group Co., Ltd. announced earnings results for the full year ended December 31, 2020. For the full year, the company announced sales was CNY 2,045.887 million compared to CNY 2,207.997 million a year ago. Operating income was CNY 468.896 million compared to CNY 364.151 million a year ago. Net income was CNY 410.494 million compared to CNY 330.599 million a year ago. Basic earnings per share from continuing operations was CNY 0.7 compared to CNY 0.56 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.
RED AVENUE NEW MATERIALS GROUP CO., LTD. 
