Huaneng Rubber H1 Nets up nearly 3-fold

Anhui Huaneng Medical Rubber Products Co., Ltd. has released its interim report for 2016.

In the first half of this year, the company’s actual business revenue climbed 0.36% year on year to 12.80 million yuan; and the net profits surged 287.75% to 2.05 million yuan.

As of June 30, the company’s total assets amounted to 66.32 million yuan, up 13.61% year on year; and the net assets grew 13.33% to 60.35 million yuan.

Huaneng Rubber attributed the sharp growth of net profit to decline in raw material prices, as well as fewer management and financial costs.

The company engages in R&D, production and sales of medical rubber seals and gaskets, with the main products including butyl rubber antibiotic seals and polyisoprene gaskets.