Red Avenue New Materials Group Co., Ltd. Reports Earnings Results for the Nine Months Ended September 30, 2020
October 22, 2020 at 04:59 am EDT
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Red Avenue New Materials Group Co., Ltd. announced earnings results for the nine months ended September 30, 2020. For the nine months, the company announced sales was CNY 1,500.223 million compared to CNY 1,638.457 million a year ago. Operating income was CNY 375.327 million compared to CNY 366.866 million a year ago. Net income was CNY 329.279 million compared to CNY 328.311 million a year ago. Basic earnings per share from continuing operations was CNY 0.56 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. 
