Net profit of 89.58 million yuan increased by 139%

On the evening of August 23, Gaomeng Xincai (300200) disclosed its semi-annual report. In the first half of 2019, the company realized revenue of 481 million yuan, a decrease of 4.2%, net profit of 89.58 million yuan, an increase of 138.61% and basic earnings per share of 0.3359 yuan. During the reporting period, benefiting from the price callback of raw materials, the company's gross product interest rate gradually returned to a reasonable level. At the same time, the company improved the management of accounts receivable and inventory, and controlled the financial and operating expenses, which made the company's net profit increase considerably.

About Gaomeng New Materials: Company listed on GEM of Shenzhen Stock Exchange on April 7, 2011. Gaomeng is currently the leading enterprise in the domestic high performance polyurethane adhesive industry. The company is a "national high-tech enterprise" and "excellent packaging enterprise in China". It has a "Beijing Enterprise Technology Center" and is recognized as "Beijing Patent Pilot Advanced Unit". The products and brands of the company are evaluated as "China Packaging" respectively. Famous Brand Products and Beijing Famous Trademarks. The company has been focusing on the R&D and production of high performance composite polyurethane adhesives. At present, the product categories include composite polyurethane adhesives for plastic flexible packaging, ink adhesives, polyurethane adhesives for high iron, composite adhesives for reflective materials, special adhesives for laminated iron, solar backplane, automotive plastics and rubber products, etc. There are more than one hundred kinds of products, which are widely used in packaging, printing, transportation, safety protection, household appliances, building materials, new energy and other important industries or fields.