HIT Welding Industry Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2022
April 25, 2022 at 12:38 pm
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HIT Welding Industry Co., Ltd. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was CNY 339.68 million compared to CNY 336.12 million a year ago. Revenue was CNY 339.68 million compared to CNY 336.12 million a year ago. Net income was CNY 8.54 million compared to CNY 18.08 million a year ago. Basic earnings per share from continuing operations was CNY 0.05 compared to CNY 0.13 a year ago. Diluted earnings per share from continuing operations was CNY 0.05 compared to CNY 0.13 a year ago.
HIT Welding Industry Co Ltd is a China-based company mainly engaged in the research and development, production and sales of various fusion welding materials. The Company's main products include various types of carbon steel welding wire, low alloy steel welding wire, stainless steel welding wire, aluminum alloy welding wire, nickel-based welding wire, flux-cored welding wire, special welding rod, flux, welding ribbon and others. The Company's products are used in large-scale engineering, rail transit, petrochemical, nuclear power and hydropower, construction machinery, containers, automobile manufacturing and other fields. The Company distributes products within domestic market and to overseas markets, including the United States, Canada, Russia, Indonesia and France, among others.