Packaging groups said that the ban on imported waste had an adverse impact
thanks to the further strengthening of cost control, coupled with the improvement of its colorant and composite production business, it created a plastic industry cluster with four development directions. The Hong Kong based material supplier Yixing Co., Ltd. had a slight surplus in the latest fiscal year, reversing the loss situation in the first half of this year
the sluggish global economic situation and the rising cost in Chinese Mainland have still hindered the company's competitiveness, but yixingxing said that it has successfully won new global customers in the automotive and electronic industries, and has replaced the original stone and wood with plastic based materials in the mainland
in the fiscal year ended June 30, the company's sales volume was HK $1.64 billion, down 3% from the previous fiscal year, but it achieved a small profit of about HK $3.1 million, reversing a loss of about HK $8.2 million in the first half of the year, Yi Xing said in its earnings report submitted to the Hong Kong stock exchange
yixingxing said, "the group strengthened cost control and adjusted its business strategy, which improved its financial performance in the second half of the year."
Yixing said that it is expected that the financial performance will improve, one of the reasons is that due to the relocation of a new factory in Hong Kong and the expansion of the plastic composite production capacity of the factory in Shanghai, two new production lines have been added and orders have been accepted since July
the company said, "the new plants in Shanghai and Hong Kong will not only enable the group to occupy a clearer position in the southern and Eastern markets of China, but also complement the existing production mode and bring synergy to the production business. The company's management predicts that otherwise, the risks will be inevitable, and the expansion will further enhance the group's competitive advantage and bring more significant cost-effectiveness."
yixingxing said that its Shanghai plant can ensure profitability by reducing costs through cooperation with well-known automobile brands, and the company hopes that its other domestic branches can also copy this model in Shanghai
the company announced that it would continue to focus on the domestic market in China, and its colorant and plastic composite production business unit could obtain more business in the packaging industry, including becoming a preferred supplier for some customers, and strive to increase its operating income by 16% to HK $360.6 million
note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content