Allied Machinery Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2022
April 27, 2022 at 06:38 am EDT
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Allied Machinery Co., Ltd. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was CNY 227.12 million compared to CNY 164.29 million a year ago. Revenue was CNY 227.12 million compared to CNY 164.29 million a year ago. Net income was CNY 37.36 million compared to CNY 33.77 million a year ago. Basic earnings per share from continuing operations was CNY 0.16 compared to CNY 0.17 a year ago. Diluted earnings per share from continuing operations was CNY 0.16 compared to CNY 0.17 a year ago.
Allied Machinery Co Ltd is a China-based company principally engaged in the research and development, design, production and sales of high-precision mechanical parts and precision cavity mold products, as well as provides one-stop services from casting to finishing. The Company's main products are: compressor parts mainly cover two major types of compressor parts, which are centrifugal compressors and screw compressors. Construction machinery components mainly include box components, transmission covers, body components, transmission box components, clutch housings, gear covers, and transmission accessories. Injection molding machine parts mainly include static plate, moving plate, oil cylinder, frame, motor seat, feeding pipe and bottom cover. Food machinery components mainly include frame, main body, crosshead, connecting rod assembly, power frame, front frame, gear cover and bearing cover. The Company distributes its products both in the domestic market and to overseas markets.