Yantai Zhenghai Magnetic Material Co., Ltd. Reports Earnings Results for the Nine Months Ended September 30, 2020
October 26, 2020 at 08:53 am EDT
Share
Yantai Zhenghai Magnetic Material Co., Ltd. announced earnings results for the nine months ended September 30, 2020. For the nine months, the company announced sales was CNY 1,343.872 million compared to CNY 1,258.958 million a year ago. Operating income was CNY 99.971 million compared to CNY 79.331 million a year ago. Net income was CNY 97.246 million compared to CNY 83.999 million a year ago. Basic earnings per share from continuing operations was CNY 0.12 compared to CNY 0.1 a year ago.
Yantai Zhenghai Magnetic Material Co., Ltd. is a China-based company principally involved in the manufacture of high-performance neodymium-ferrite-boron permanent magnet materials and research, development of new energy vehicle motor derive systems. The Company operates through two main segments. The Neodymium-ferrite-boron Permanent Magnet Materials segment is primarily engaged in the research, development, manufacture, distribution and services of neodymium-ferrite-boron permanent magnet materials, and its products include finished products, machine processed products and blanks. The New Energy Automobile Motor Drive Systems segment is engaged in the research, development, production and distribution of new energy automobile drive motors and its electronic control systems. The Company distributes its products within domestic market and to overseas markets.
YANTAI ZHENGHAI MAGNETIC MATERIAL CO., LTD. 
