Fujian Raynen Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2020
April 28, 2020 at 05:38 am EDT
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Fujian Raynen Technology Co., Ltd. announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced sales was CNY 297.030 million compared to CNY 350.597 million a year ago. Operating income was CNY 764,457.83 compared to CNY 12.384 million a year ago. Net income was CNY 779,646.09 compared to CNY 13.026 million a year ago. Basic earnings per share from continuing operations was CNY 0.0039 compared to CNY 0.0647 a year ago.
FUJIAN RAYNEN TECHNOLOGY CO., LTD. is a China-based company principally involved in the research, development, manufacture and sales of computerized control system for knitting machines, as well as the distribution of integrated circuit (IC) products. The Company operates through two main segments. The Manufacture segment is mainly engaged in the research, development, manufacture and sales of computerized control system for knitting machines, as well as the manufacture of development tools and evaluation boards for IC products and high - pressure gas discharge lamp electronic ballast, among others. The Distribution segment is primarily engaged in the distribution of integrated circuit chips, other electronic components and industrial electrical automation products.