Ruifeng High-tech: Revenue and profit both declined in the first three quarters

Latest News: Recently, Ruifeng High-tech released the report for the third quarter of 2022. The announcement showed that the operating income in the first three quarters of 2022 was 1,358,102,328.45 yuan, down 0.19% from the same period of the previous year; attributable to shareholders of listed companies The net profit was 58,975,261.29 yuan, down 32.59% from the same period last year.

During the reporting period, the net cash flow from operating activities was -79,481,403.57 yuan, and the total assets were 1,959,395,631.65 yuan.

During the reporting period, the company’s management expenses were 71,335,272.63 yuan, an increase of 39.41% over the same period of the previous year, which was mainly due to the increase in the accrual of equity incentive fees during the reporting period. Credit impairment loss was RMB 1,794,998.95, down 184.25% from the same period of last year, due to the decrease in other receivables and commercial acceptance bills during the reporting period, and the decrease in credit impairment loss accrued based on aging.

According to the data, the business scope of Ruifeng High-tech is the manufacture and sale of plastic additives; the production, research and development and operation of biomaterials, degradable plastic resins and products; and the manufacture and sale of synthetic rubber. During the reporting period, the main business of the company and its wholly-owned subsidiary Linyi Ruifeng is: plastic additives business and biodegradable material business.