How did the downturn affect the operating business?
Management attributes the FY2009 decline to lower export volumes and lower glass-fiber selling prices in domestic and overseas markets. Consolidated revenue was CNY 3,170,935,643.57, down 20.89%, and the group reported a net loss of CNY 266,299,606.59. The loss attributable to shareholders of the listed company was CNY 154,769,883.68; the remaining CNY 111,529,722.91 was attributable to minority shareholders. These are different ownership scopes, rather than alternative estimates of the same loss. The report describes stronger domestic demand alongside weak overseas conditions, but does not provide a quantified bridge separating prices, volumes, product mix and ownership changes. Management also attributes higher administrative expenses to research and development and higher financing expenses to additional borrowing. Product revenue-cost margins therefore cannot stand in for the consolidated result after operating and funding costs.
- Reported business revenue / 2009 / consolidated total
- RMB 3,170,935,643.57
- Reported consolidated net profit / 2009 / consolidated total
- RMB -266,299,606.59
- Reported owner net profit / 2009 / listed owner
- RMB -154,769,883.68
- Reported minority net profit / 2009 / consolidated minority
- RMB -111,529,722.91