On October 26th, today, Zhongbai Group (hereinafter referred to as “Zhongbai”) released the third quarter report of 2018. Thanks to the adjustment and upgrading of its business format, its business has stabilized and its performance has shown a growth trend.
According to its financial report, the company achieved operating income of 11.509 billion yuan in the first three quarters, up 2.23% year-on-year; net profit attributable to shareholders of the parent company was 468.069 million yuan, an increase of 260.94%.
In this regard, the company said that it completed the asset securitization project of Jiangxia Zhongbai Shopping Plaza in the same period last year, increasing the net profit for the same period by RMB 179 million. This year, the company’s subsidiary Zhongbai Warehouse Company’s compensation for the demolition of the Shishi Road store increased the current net profit by 427 million. yuan. Excluding the above non-recurring gains and losses, the company’s current profit is expected to grow.
In addition, Zhongbai Group expects the accumulated net profit for the whole year of 2018 to be 468 million yuan – 4.78 billion yuan, an increase of 591.83% – 606.62% over the same period last year.