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On January 24, a business agency reported that Yizheng Chemical Fiber announced on January 21 that due to the positive impact of rising domestic polyester prices on product profitability, the company expects its net profit attributable to shareholders of the parent company to increase by more than 200% year-on-year in 2010. This significant growth is attributed to favorable market conditions and strategic cost management.
According to the company, 2010 saw steady demand from the downstream textile industry, along with a recovery in external demand. As a result, domestic cotton prices surged after September, which in turn pushed up the prices of polyester products. This led to a notable improvement in the company’s profitability during the period.
In addition, Yizheng Chemical Fiber adjusted its product mix based on market trends, effectively reduced operating costs, and optimized expenses, which contributed to a substantial rise in net profit.
Under Chinese accounting standards, the company reported a net profit of RMB 382 million for 2010, translating to a return of 0.096 yuan per share. However, this performance figure has not yet been audited. According to the Shanghai Stock Exchange’s disclosure requirements, Yizheng Chemical Fiber is scheduled to release its full annual results on March 29.
On the same day, Yizheng Chemical Fiber’s A-shares closed at 11.93 yuan, up 1.36% from the previous trading day. Meanwhile, its H-shares remained unchanged at 4.13 Hong Kong dollars. Investors are closely watching the upcoming earnings report, which could further influence the stock's performance in the near term. The company’s strong financial outlook reflects broader industry trends and its ability to adapt to changing market dynamics.