Qingdao Doublestar earnins off in Q3'
Qingdao Doublestar Co.,Ltd announced the third quarter operation report on Oct.31.
The company report 948 million yuan of operation income in the third quarter, year-on-year decreasing 22.42%, and reported 3.019 billion yuan of operation income in the first three quarters, yearly down by 17.94%.
The company's production and income was affected by stopping part of operation projects, and material sales reducing.
In the third quarter, Qingdao Doublestar realized 47,720,000 yuan of net profit, yearly rising by 76.36%, and posted 105 million yuan of net profit in the first nine months, yearly rising by 29.56%.
The company's cash flow dived 622.26% in the first nine months, because of rising available accounts, rising Inventory and time-to-expired payable bills.
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