Huafang's exchange rate loss dragged down profits

Zhongzheng Wang News (Reporter Kangshu Wei) Huafang shares 600 448 2017 Annual Report diagnosed shares April 16 evening disclosure shows that during the reporting period the company achieved sales income of 2.85 billion yuan, up 20.71 percent; attributable to shareholders of listed companies net The profit was 6,800,200 yuan, a year-on-year decrease of 33.27%. From the data point of view, exchange losses have a greater impact on the company's performance. In 2016, the company's exchange gains were 22.08 million yuan, and the exchange loss in 2017 was 10.43 million yuan.

For the non-public offering of the investment project “Vietnam's annual production of 50 million meters of high-end apparel fabrics (dyeing and finishing) project” was suspended by the Vietnamese side, the company said that the project needs to stop investment and construction in the Yonglong province and rich industrial zone in Vietnam, the project The location of the construction site needs to be adjusted accordingly. Up to now, the main expenditure of the project is a land lease deposit of USD 30,000, which will not have a significant impact on the company's current profit and loss and shareholders' equity, nor will it adversely affect the normal operation and sustainable development of the company.

The company stated that the practice of the “Belt and Road Initiative” has opened up a vast space for the development of the textile printing and dyeing industry. As one of the leading companies in the domestic printing and dyeing industry, the company has strong R&D production capacity, market development capability and high-quality customer base. The company will continue to adhere to the "One Belt, One Road" initiative, adhere to the "going out" strategic layout, actively demonstrate and implement the new implementation site of the project, and continue to promote the investment and construction of the project.