Youyuan International Holdings Limited announced the unaudited consolidated results for the six months ended 30 June 2018. Revenue for the six months ended 30 June 2018 was RMB1,833.6 million ($235 million), representing an increase of approximately 86.7% from RMB982.3 million ($126 million) for the six months ended 30 June 2017, as the company said in the press release received by Lesprom Network.
Profit and total comprehensive income increased by approximately 7.7% from RMB219.8 million ($28 million) for the six months ended 30 June 2017 to RMB236.7 million ($30.3 million) for the six months ended 30 June 2018.
Gross profit of Youyuan International Holdings Limited increased to RMB709.3 million ($91 million) for the six months ended 30 June 2018 from RMB278 million ($35.6 million) for the 1H 2017. Overall gross profit margin of the Group increased from 28.3% for the six months ended 30 June 2017 to 38.7% for the six months ended 30 June 2018.
Other income and other gains and losses of the Group changed from a net gain of RMB26.7 million ($3.4 million) for the six months ended 30 June 2017 to a net loss of RMB54.5 million ($7 million) for the six months ended 30 June 2018, mainly due to the increase in net foreign exchange losses as a result of the depreciation of RMB against USD for the bank borrowings, convertible bonds and unsecured notes denominated in USD.
Youyuan International Holdings Limited is a leading wrapping tissue paper manufacturer in China.
