Red Avenue New Materials Group Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2021
April 14, 2022 at 09:08 am EDT
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Red Avenue New Materials Group Co., Ltd. reported earnings results for the full year ended December 31, 2021. For the full year, the company reported sales was CNY 2,306.27 million compared to CNY 2,042.43 million a year ago. Revenue was CNY 2,308.36 million compared to CNY 2,045.89 million a year ago. Net income was CNY 326.58 million compared to CNY 410.49 million a year ago. Basic earnings per share from continuing operations was CNY 0.55 compared to CNY 0.7 a year ago. Diluted earnings per share from continuing operations was CNY 0.55 compared to CNY 0.7 a year ago.
Red Avenue New Materials Group Co., Ltd. is a China-based company principally engaged in the research, development, production, sales and trading of fine chemical materials. The Company's main products are phenolic resins for rubber, including tackifying resins, reinforcing resins and adhesive resins. The Company's products are mainly applied in tires, as well as hoses, adhesive tapes, rubber shoes and other rubber products. The Company is also engaged in the trading of homogenizers, tackifying resins, adhesives, cobalt salts, white carbon, protective waxes, environmentally friendly oils and other processing aids.