Kingfa Technology achieves 1.992 billion Yuan of net profit in 2022, up 19.89% YOY

On April 24, 2023, Kingfa Technology released its annual report for 2022. During the reporting period, the company realized operating income of about 40.412 billion yuan, an increase of 0.53% over the same period of last year, and realized net profit of about 1.992 billion yuan for shareholders of listed companies, an increase of 19.89% year on year. The company intends to pay a cash dividend of 2.30 yuan (including tax) for every 10 shares, and a total cash dividend of about 610 million yuan based on the total share capital of the company.

From the performance of specific business sectors, the sales of finished products of the modified plastic plate in 2022 were about 1.7622 million tons, up 0.97% from the same period of last year, and the operating income was about 25.647 billion yuan, an increase of 1.26% on annual basis. Among them, automotive materials performed well, with sales of about 751100 tons for the whole year, an increase of 21.64% on the year.

With the exception of home appliance materials affected by the overall downturn in the home appliance industry in 2022 resulting in a year-on-year decline in sales, sales of other major products of modified plastics have maintained a good momentum of growth. Of this total, sales of electronic and electrical materials were about 181000 tons, up 7.1% over the same period of last year; sales of new energy materials were 56900 tons, up 84.86% year on year; and sales of consumer electronic materials were 61200 tons, up 27.08% on annual basis.

In terms of new materials business, the company's sales of finished products in the new materials sector in 2022 were about 122800 tons, an increase of 20.47% y-o-y. Of these, sales of completely biodegradable plastics were about 98500 tons, an increase of 23.53% year on year and the operating income of the main products of high-performance carbon fiber and composite materials reached 158 million yuan, an increase of 23.44% on the year.

That night, Kingfa Technology also released its first-quarter report for 2023. During the reporting period, the company realized operating income of 9.683 billion yuan, an increase of 2.39% over the same period last year, and realized a net profit of about 299 million yuan belonging to shareholders of listed companies.