Yadea Group Holdings Ltd. Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2016
September 21, 2016 at 05:03 am EDT
Yadea Group Holdings Ltd. reported unaudited consolidated earnings results for the six months ended June 30, 2016. For the period, the company reported revenue of RMB 2,937,686,000 against RMB 2,752,890,000 a year ago. Profit before tax was RMB 228,356,000 against RMB 186,656,000 a year ago. Profit attributable to owners of the parent was RMB 177,501,000 or RMB 0.07 per diluted share against RMB 143,844,000 or RMB 0.06 per diluted share a year ago. Net cash used in operating activities was RMB 90,581,000 against net cash generated from operating of RMB 44,869,000 a year ago. Purchases of items of property, plant and equipment were RMB 54,788,000 against RMB 89,953,000 a year ago. Additions to intangible assets were RMB 1,859,000 against RMB 3,904,000 a year ago. Revenue from the sales of electric two-wheeled vehicles and related accessories increased by 6.7%, mainly due to the increases in both the average selling prices and the sales volume of electric scooters and electric bicycles. The sales volume of electric two-wheeled vehicles increased by approximately 3.3% from 1,402,211 units for the six months ended June 30, 2015 to 1,448,843 units for the six months ended June 30, 2016 as a result of the general increase in market demand as the Group increased its marketing and advertising efforts.