BEIJING, Aug. 11, 2021 /PRNewswire/ -- On August 9, 2021, Beijing time, Beijing Oriental Yuhong Waterproof Technology Co., Ltd. (hereinafter referred to as "Oriental Yuhong") released its mid-year report for 2021. According to the report, the company generated an operating revenue of RMB14.229 billion during the reporting period, a 62.01% increase compared with the corresponding period of the previous year. The net profit attributable to the listed company was approximately RMB1.537 billion, representing a year-on-year increase of 40.14%, and the earnings per share was RMB0.64, a year-on-year increase of 25.49%.
During the reporting period, the operating revenue and profit of Oriental Yuhong continued to grow. The growth in operating revenue was mainly attributable to the smooth expansion of the company's businesses, the sales growth of main products, and the increase in the scale of material sales and construction services. In terms of operating revenue structure, sales of waterproof materials and waterproofing construction together accounted for 92.05%, of which 82% from the sales of waterproof materials and 10.05% from waterproofing construction; in terms of products, waterproof coiled materials accounted for 49.37% of the operating revenue, and waterproof coatings accounted for 32.63%.
In the first half of the year, Oriental Yuhong completed a RMB8 billion private placement, continued to expand its production capacity and industry chain, implemented the integrated strategic reform, and promoted the localization of sales channels. The company has taken a combination of measures to increase its market share and competitiveness, continuously improved its operating revenue structure, and further consolidated its position as a leading "construction materials system service provider". As of early August, Huatai Securities, Everbright Securities, CICC (China International Capital Corporation Limited), Minsheng Securities, Huachuang Securities and other institutions have successively issued research reports, and gave Oriental Yuhong positive ratings such as "buy", "recommended", "outperform" and "strongly recommended". These institutions are optimistic about the growth potential brought by Oriental Yuhong's strategies such as integrated reform and expansion of business scope in the context of accelerated integration in the industry.
Since its establishment, Oriental Yuhong has provided high-quality and full-fledged building materials system solutions for the development of major infrastructure projects, industrial, civil and commercial buildings, and has been committed to solving problems of the industry such as uneven quality of waterproof construction, high leakage rate in buildings and subsequent potential construction safety hazards. With more than 20 years of experience in the construction materials industry, the company has been transformed and upgraded to an industry leader in terms of R&D capabilities, process and equipment, applied technology, sales models, professional system service capability and brand influence. It has become a competitive and growing enterprise in the international market with an outstanding position in the industry. Going through several development cycles of the industry, the company has been able to adjust its strategy in a timely manner according to the prevailing trend. At the same time, through years of operation in the market, the company has accumulated profound channel resources in, among others, retail, direct sales and construction channels. Starting from 2020, the company has explored local project resources through refined management and localized operation. With these efforts, in combination with the new round of intensive development of production bases, the company has been able to quickly increase its penetration and coverage in different regional markets.
During the reporting period, Oriental Yuhong established a joint lab with SINOPEC Yanshan Petrochemical Company (Yanshan Petrochemical) and signed a strategic cooperation agreement with Wanhua Chemical Group Co., Ltd. (Wanhua Chemical), etc. The establishment of the joint lab with Yanshan Petrochemical will allow both parties to make joint innovation efforts through joint research and cooperation projects, to continuously develop and apply new products, and to exploit their combined strength in research, production and marketing. The strategic cooperation with Wanhua Chemical will, on the one hand, help the company to lower the procurement cost of raw materials and improve profitability, and will, on the other hand, be conducive to improving the company's product innovation and R&D capability.
Looking into the future, Oriental Yuhong is leading the market with technology, initiating industrial revolution with innovative models, providing customers with high-quality, professional and full-fledged system solutions and building a one-stop system service platform based on high-quality products and professional system services. The company will continue to build itself into an excellent construction materials system service provider and be committed to becoming the most valuable enterprise in the global building materials industry.
About Oriental Yuhong
In 1995, Oriental Yuhong started its business in the building waterproofing industry. In more than two decades, Oriental Yuhong has provided high-quality and full-fledged building materials system solutions for the development of major infrastructure projects, industrial, civil and commercial buildings. The company has invested in a wide range of areas such as building waterproofing, building coatings and powder materials, nonwoven fabrics, thermal insulation and energy saving, building repair, mortar powder and special-purpose membrane. Oriental Yuhong holds more than 50 subsidiaries, including Shanghai Oriental Yuhong, Hong Kong Oriental Yuhong, and Oriental Yuhong North America Co., Ltd., and has set up more than 30 production/R&D/logistics bases in China.
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