Mingxin Automotive Leather sees revenue increase, despite covid-19
China’s Zhejiang-based Mingxin Automotive Leather has seen its year-on-year revenue increase, in spite of covid-19.
During the first three quarters of 2020, the automotive leather company realised an operating income of ¥567 million RMB (around $86 million USD), which represents a year-on-year increase of 29.8%.
From 2016 to 2019, Mingxin achieved operating revenues of ¥469 million RMB (roughly $71 million USD), ¥551 million RMB ($84 million USD), ¥570 million RMB ($87 million USD) and ¥658 million RMB ($100 million USD), respectively.
The company forecasts that its full-year 2020 operating income will reach somewhere between ¥780 million RMB (around $118 million USD) and ¥831 million RMB ($126 million USD), an increase of about 18.5% to 26.3% year on year.
At present, Mingxin’s chrome-free automotive leather products account for more than 70% of all sales.
The enterprise began trading on the Shanghai Stock Exchange on Monday, November 23 (2020).
Image: Mingxin Automotive Leather.
