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CSG: rely on float glass business, significantly improve profitability

Post Time:Oct 26,2009Classify:Company NewsView:348

In 2009 the first three quarters, the company achieved total operating income of 3.547 billion yuan, an increase of 8.34%; Attributable to parent company, the owner's net profit  was 5.78 billion yuan, up 5.96%. in the case of the third quarter core operating income increased by 29.71%, Attributable to parent company, the owner's net profit  grew 133.92 percent year by year. Performance increases were significantly higher than market expectations.

The Company's 2009 third-quarter profit is mainly due to significant growth in core business growth in the glass industry. Float glass and engineering glass remains the company's main source of revenue and profits. The company  was directly benefit from the expanding demand of float glass and engineering glass, especially, the price of float glass rised rapidly in Q3, direct pulling significant growth in its performance.

In 2009, the company rebound in corporate profitability quarter by quarter and showed a good sign to the bottom pick-up. In particular, in the third quarter, the profitability was significantly improved.

The company planed to establish two High-grade float glass production line, daily melting capacity of 600 tons and 900 tons respectively in Wujiang Economic Development Zone, further strengthening its competitive edge in the glass industry.

Source: GlassInChinaAuthor: shangyi

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