Oriental Yuhong Announces Revenue of 14.978bn Yuan for the First Three Quarters of 2020
Oct 29, 2020, 20:30 ET
BEIJING, Oct. 29, 2020 /PRNewswire/ -- On the evening of October 26th (Beijing time), Beijing Oriental Yuhong Waterproof Technology Co., Ltd. (SZ002271) released its third quarter report of 2020. In the first three quarters, Oriental Yuhong achieved an operating revenue of USD 2.22 billion, a year-on-year increase of 16.15%. The net profit attributable to its shareholders was USD 317 million, up 43.35% year-on-year. In the third quarter, Oriental Yuhong continued to pivot its services towards lower tier markets, and its operating revenue reached USD 923 million, a year-on-year increase of 24.22%.
As macro policies and the market place higher requirements on the quality and standard of waterproofing products, the competitive advantage of brand enterprises has expanded as well. As a construction materials system service provider, Oriental Yuhong has continued to expand its production capacity and leverage its scale. In the third quarter of 2020, Oriental Yuhong announced investment in multiple production bases in several regions for green building materials, increasing its investment in environmentally-friendly building materials and aiming to gain a first mover's advantage in the green building materials market. In terms of brand influence, with the pivoting of services towards lower tier markets and a stronger market reputation, Oriental Yuhong was listed in China's top 500 released by Fortune China, achieving a win-win situation for the brand and the market.
The service radius of the building materials industry has caused production capacity to become a key factor limiting market expansion. Production capacity wise, Oriental Yuhong has 28 production, R&D and logistics bases and more than 80 advanced production lines, among which the annual design capacity of the waterproofing membrane is about 500 million square meters, and the waterproof coating is more than 1 million ton. With a service radius of 300 kilometers, Oriental Yuhong stands ready to provide its service at any time of the day.
To develop green buildings, green building materials and energy-saving buildings, Oriental Yuhong continuously expands its product categories, improves product quality, optimizes and upgrades product structure, and further expands the production and supply capacity of the company in various parts of China. The total investment amount stands at USD 1.9 billion, and investments in production bases for green building materials including waterproofing, thermal insulation and coatings and related projects are planned for the following areas: Wuhu city (Anhui province), Huadu district (Guangzhou city), Xushui district (Baoding city), Yangpu district (Hainan province), Qidong city (Jiangsu province), Jiangjin district (Chongqing city) and Jiutai district (Changchun city). There will also be another investment in the Tiandingfeng Nonwovens project in Changde (Hunan province).
Since joining the building waterproofing industry in 1995, Oriental Yuhong has continued to provide high-quality and complete waterproof system solutions for major infrastructure construction, industrial buildings as well as civil and commercial buildings. In recent years, Oriental Yuhong has integrated its development and pivoted towards lower tier markets in the existing market space. It is a key leader in the industry with growing brand influence.
In the third quarter of 2020, Oriental Yuhong was listed on the Fortune 500 China, Chinese Manufacturing 500 Strong, and the 14th Valuation of Listed Companies in China. It was awarded the "Influential Brand for Engineering Waterproofing" at the "2020 China Coatings Summit and Waterproof Industry Summit", and its highly water-resistant polymer cement waterproof coating was awarded the "Innovative Solution for Waterproof Materials". Caparol (China) Ltd. won the "Influential Brand for Exterior Wall Coating" while Yuhong (Civil construction materials) took home the "Influential Brand for Home Renovation Waterproofing", "Influential Brand for Ceramic Tile Adhesive" and "Innovative Brand for Ceramic Sealant". These awards were recognized by supply chain enterprises, society and the market at large.
With more than 20 years in value building, technology development and service expansion, Oriental Yuhong's management has continued to grow. During the reporting period, Oriental Yuhong was granted Singapore's invention patent, and its "Yuhong Plant-based Waterproofing Coating" earned the USDA Certified Biobased Product Label. A global Oriental Yuhong will enhance its global brand influence with strategic vision, and expand its market space.
SOURCE Beijing Oriental Yuhong Waterproof Technology Co., Ltd.
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