Jingjia reports 2022 H1 revenue increase

Aug.22.2022

Jinjia achieved revenue growth despite challenges in the tobacco business, with promising growth in the new tobacco industry.

Jingtian & Gongcheng, a company listed on the Shenzhen Stock Exchange under the symbol 002191.SZ, has released its H1 2022 financial report. The report shows that the company has achieved operating revenue of CNY 2.644 billion, an increase of 8.03% year-on-year. The net profit attributable to shareholders of the listed company amounted to CNY 500 million, a decrease of 1.40% year-on-year. Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses amounted to CNY 425 million, a decrease of 11.29% year-on-year. The basic earnings per share is CNY 0.34/share.

During the reporting period, the revenue from cigarette label products decreased by 9.56% compared to the same period last year. The company's cigarette label business experienced some fluctuations due to factors such as intensified regional market competition, decreased bidding prices, fluctuating production raw material costs, and sporadic COVID-19 outbreaks.

During the reporting period, the company achieved a 297.53% increase in revenue from its new tobacco business compared to the same period last year. The company has been actively adapting to new regulations surrounding electronic cigarettes, streamlining and optimizing the mechanism and processes of cooperation among the entities in its new tobacco industry chain. This strategy has effectively leveraged the company's resources, resulting in overall positive growth in areas such as technology research and development, new product development, and customer collaboration. As such, the company has been able to successfully implement high-quality strategies for advancing its new tobacco development plans.

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