Intech releases Q3 estimated results: overall increase, profit may decline

Recently, Intech Medical announced its estimated third-quarter results. According to the report, its performance will continue to rise from January to September 2021. During the reporting period, its profit is expected to reach between 677,881.61 million yuan and 697,881.61 million yuan, compared with 437,257.94 million yuan in the same period last year.

The company expects its net profit attributable to shareholders of listed companies in the third quarter to be between RMB 900 million and RMB 110 million, compared with RMB 2451.2781 million in the same period last year, a year-on-year decrease of approximately 55.13% to 63.28%.

Regarding the change in the third quarter performance forecast, the company's report shows that the main reason is that the continued epidemic at home and abroad has made the demand for disposable nitrile protective gloves still strong. Secondly, the company has added new production capacity in its production bases in Shandong, Anhui and Jiangxi, which has increased the company's sales revenue during the reporting period. At the same time, Intech has improved production efficiency and reduced unit energy consumption through internal improvements and innovations.

In this report, Intech stated that due to the effective control of the epidemic by various countries, the release of new production capacity in the market and the impact of fluctuations in raw material prices, the price of its products has dropped, which may lead to a year-on-year decline in profits in the third quarter of 2021. In addition, changes in the US dollar exchange rate have also affected the company's performance.

In the first half of this year, Intech can be said to have achieved good results. Its revenue in the first half of the year reached 10.647 billion yuan, a year-on-year increase of 139.88%; the profit attributable to the listed company reached 5.879 billion yuan, a year-on-year increase of more than 200%.

As the epidemic continues , consumers' awareness of protection has increased, and the sales of protective gloves and disinfectants have soared last year. With its advantages in independent research and development, capital and technology, Intech's business has spread to more than 120 countries and regions, with a huge market.

Although the profit in Q3 may decline, the overall performance remains on the rise. The current estimated data is only a preliminary estimate made by the company, and the specific content will be announced in detail this quarter.

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