Revenue of Youyuan International Holdings Limited for the year ended 31 December 2018 was RMB4,059.8 million ($520 million), representing an increase of approximately 53.9% from RMB2,638.8 million ($338 million) for the year ended 31 December 2017, as the company said in the press release received by Lesprom Network.
Profit and total comprehensive income attributable to owners of the Company decreased by approximately 31.3% from RMB962 million ($123 million) for the year ended 31 December 2017 to RMB661 million ($84.7 million) for the year ended 31 December 2018.
The decrease in profit and total comprehensive income attributable to owners of the Company were attributable to an one-off gain on deemed disposal of an associate of approximately RMB343.7 million ($44 million) recognised in 2017, foreign exchange loss due to depreciation of Renminbi (“RMB”) against US Dollars and high finance costs recognised in 2018, the impact of which was partly set off by increase in sales volume and average selling price of the Group’s products.
Gross profit of Youyuan International Holdings Limited increased to RMB1,640.8 million ($210 million) for the year ended 31 December 2018 from RMB891.3 million ($114 million) for the year ended 31 December 2017. Overall gross profit margin of the Group increased from 33.8% for the year ended 31 December 2017 to 40.4% for the year ended 31 December 2018.
Youyuan International Holdings Limited is a leading wrapping tissue paper manufacturer in China.
