China New Borun Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Provides Revenue Guidance for the Third Quarter of 2017
For the six months, the company reported revenues of RMB 1,071,003,283 against RMB 1,016,961,602 a year ago. Operating income was RMB 115,453,835 against RMB 78,301,897 a year ago. Income before income taxes was RMB 82,607,482 against RMB 53,505,984 a year ago. Net income was RMB 61,955,612 against RMB 40,129,488 a year ago. Basic and diluted earnings per share were RMB 2.41 against RMB 1.56 a year ago.
Reflecting the comparatively shorter year-over-year production period, the company estimates that its revenue for the third quarter of 2017 will be In the range of RMB 380 million to RMB 420 million a decrease of approximately 36.9% to approximately 30.3%, respectively, over the same quarter of 2016.