Oriental Yuhong Operating Profit Up by 44.24% YoY in 2019
BEIJING, April 26, 2020 /PRNewswire/ -- Beijing Oriental Yuhong Waterproof Technology Co., Ltd ("Oriental Yuhong") (SZ: 002271), a leading provider of waterproofing products from China, has published its 2019 Annual Report showing that the company's revenue and earnings in 2019 have maintained solid growth and achieved total gross revenue of $2.563 billion and operating profit of $370 million, increasing 44.24% year-on-year.
The changes Oriental Yuhong undertook improved gross margins and cash flow, as well as steadily increasing operating income.
In the operating revenues:
- the sales revenue of waterproof materials was US$2,098 million, up 31.52 percent year-on-year
- the construction revenue from waterproofing projects was US$332 million, up 20.35 percent year-on-year
While operating income has increased significantly, Oriental Yuhong has also steadily elevated its profitability. In 2019, Oriental Yuhong's basic earnings per share were US$0.20, jumped 42.57 percent year-on-year.
Oriental Yuhong is responsible to its investors and has maintained steady growth for years. In 2019, in the face of a complex and grim business environment, the company strategically positioned itself to achieve higher quality and sound development, prioritized risk control, actively promoted organizational change, continued to expand channels to increase sales performance, maintained robust operation and solid development, and fulfilled its annual operating tasks successfully. At the same time, the company is leading the industry in various aspects in terms of research and development strength, production technology, sales model, professional service capabilities and brand influence.
The era of new infrastructure has arrived in China, the development of 5G infrastructure, intercity high-speed rail, urban rail transit and industrial Internet planning is becoming clearer. The continuous expansion of building materials industry will lead to better profitability. Leaders of Oriental Yuhong firmly believe that, with the deepening of reform and the continuous improvement of operational efficiency, the company will keep its momentum in 2020 and expect a stronger performance in the future.
In addition, the sub-brands of Oriental Yuhong consist of Yuhong Waterproof (residential building materials), VASA (special mortar), Wonewsun, Fudaetc (energy-saving & insulation), TDF (non-woven fabric), DAW China (architectural coatings), Building Repair (Oriental Yuhong building repair) and Bi'An (building powder). The above-mentioned brands have all established good brand images and gained increasingly prominent influences in their respective sectors.
The company was in good financial position during the reporting period, with total assets of US$3.167 billion as of 31 December 2019, an increase of 14.06 % over the previous year.
It has been over 20 years since Oriental Yuhong entered the building waterproofing industry in 1995, the company has been devoted to providing high quality and complete solutions for major infrastructure construction, industrial buildings and residential and commercial buildings and has become an excellent building materials system service provider. Oriental Yuhong Holdings owns more than 50 subsidiaries and affiliated companies including Oriental Yuhong Shanghai, Oriental Yuhong Hong Kong and Oriental Yuhong North America Co., Ltd. It has founded 28 production and R&D logistics bases across China.
Official Website: http://en.yuhong.com.cn/
SOURCE Beijing Oriental Yuhong Waterproof Technology Co., Ltd.