Regarding the rise in performance, Qingdao Kingking explained that the main reason for the change in performance was the gradual recovery of the company’s various businesses in the first half of 2023.
On July 13th, Qingdao Kingking Applied Chemistry Co., Ltd. (hereinafter referred to as Qingdao Kingking) released its performance forecast for the first half of 2023.
According to the announcement, the net profit attributable to shareholders of the listed company in the first half of 2023 is expected to be between 28.72 million yuan ($4 million) and 33.14 million yuan ($4.6 million), a year-on-year increase of 30% to 50%. The net profit after deducting non-recurring gains and losses is expected to be between 23.4 million yuan ($3.3 million) and 28 million yuan ($4 million), a year-on-year increase of 0% to 20%.
Qingdao Kingking explained that the main reason for the performance change was the gradual recovery of the company’s various businesses in the first half of 2023.
Qingdao Kingking’s main business includes three major sectors: new material candle and aroma and craft products business, cosmetics business, and supply chain business. Among them, the new material candle and aroma and craft products business and cosmetics business are the core business development sectors.
In 2022, Qingdao Kingking’s new material candle and aroma and craft products business had a revenue of 1.05 billion yuan ($147.3 million), accounting for 35.57% of the total revenue. The cosmetics business had a revenue of 900 million yuan ($126.3 million), accounting for 30.51% of the total revenue, and the supply chain business had a revenue of 1 billion yuan ($140.3 million), accounting for 33.92% of the total revenue.
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