Saurer Intelligent Technology Co.,Ltd. Reports Earnings Results for the Nine Months Ended September 30, 2020
October 30, 2020 at 06:38 am EDT
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Saurer Intelligent Technology Co.,Ltd. announced earnings results for the nine months ended September 30, 2020. For the nine months, the company announced sales was CNY 3,670.401 million compared to CNY 5,823.858 million a year ago. Operating loss was CNY 195.455 million compared to operating Income of CNY 597.482 million a year ago. Net loss was CNY 133.626 million compared to net income of CNY 367.118 million a year ago. Basic loss per share from continuing operations was CNY 0.0717 compared to basic earnings per share from continuing operations of CNY 0.1937 a year ago.
Saurer Intelligent Technology Co Ltd, formerly Xinjiang Urban Construction Group Co Ltd, is a China-based company mainly engaged in the research and development, production and sales of intelligent textile complete sets of equipment and core components. The Company mainly operates through two segments. The Spin Business segment is mainly engaged in the manufacture and sales of blow-carding units, combing frames, roving frames, draw frames, and new textile machinery, as well as the provision of parts and components required for related machinery. The Technical Business segment is mainly engaged in the research and development, design and manufacture of twisting machines and embroidery machines; and provides parts and components for related machinery and sells various parts and components externally. The Company's products are sold in domestic and overseas markets.
SAURER INTELLIGENT TECHNOLOGY CO. LTD 
