Brief: Billion Industrial Says Profit For Year Amounted To RMB853.2 Million

Billion Industrial Holdings

20/03/2020 12:24

March 20 (Reuters) - Billion Industrial Holdings Ltd
 2299.HK :
    * REVENUE FOR YEAR RMB9,396.9 MILLION, UP 9.2%
    * PROFIT FOR YEAR AMOUNTED TO RMB853.2 MILLION, UP 10.2%
    * GROUP IS INVESTING ABOUT US$185 MILLION TO SET UP
PRODUCTION
LINE FOR POLYESTER INDUSTRIAL YARN PRODUCTS
    * TOTAL PRODUCTION CAPACITY OF NEW MANUFACTURING FACILITIES
WILL
BE ABOUT 250,000 TONS PER ANNUM
    * NEW POLYESTER INDUSTRIAL YARN MANUFACTURING FACILITIES
EXPECTED
TO GRADUALLY COMMENCE COMMERCIAL PRODUCTION IN Q2 OF 2020
    * GROUP IS INVESTING US$230 MILLION TO ESTABLISH A POLYESTER
THIN
FILM PRODUCTION LINE IN THREE YEARS FROM 2019 TO 2021
    * DUE TO IMPACT OF COVID-19, THERE WAS SOME SHORT-TERM
IMPACTS ON
OVERALL TEXTILE INDUSTRY AND SALES OF GROUP

Source text: bit.ly/2UmI3Oq
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 ((Reuters.Briefs@thomsonreuters.com;))