Sinomag Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2022
April 26, 2022 at 03:49 am
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Sinomag Technology Co., Ltd. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was CNY 224.48 million compared to CNY 181.77 million a year ago. Revenue was CNY 224.48 million compared to CNY 181.77 million a year ago. Net income was CNY 27.91 million compared to CNY 29.07 million a year ago. Basic earnings per share from continuing operations was CNY 0.2294 compared to CNY 0.2412 a year ago. Diluted earnings per share from continuing operations was CNY 0.2294 compared to CNY 0.2412 a year ago.
Sinomag Technology Co Ltd is a China-based company mainly engaged in the research and development, manufacturing and sales of permanent magnet ferrite new functional materials. Its main products are wet-pressed magnetic tiles, commutators and other products, which are mainly used in the automotive, motorcycle and frequency conversion home appliance industries. The Company also provides outsourced processing products such as plastic magnets, rubber magnets, magnetic tiles and magnetic rings. The Company distributes its products in domestic and to overseas markets.
SINOMAG TECHNOLOGY CO., LTD. 
