The Chinese remanufacturer has published the financial reports for the third quarter.
Ninestar Corporation has published its quarterly results for Q3 of 2017, and it is a decidedly mixed picture for the Chinese remanufacturer.
In Q3, operating income rose 554.53 percent from Q3 of 2016, to ¥5.12billion ($772million/€655m); from the beginning of 2017 to the end of Q3, it totalled ¥16.2billion ($2.44billion/€2.07billion), a 634.37 percent increase on the same period last year.
It was a slightly different picture, however, for the company’s net profit (attributable to shareholders of listed companies). Whereas the total net profit in Q3 was ¥508.3million ($76.7million/€65million) – an enormous rise of 1,964 percent on the same period in 2016 – for the year to date Ninestar were still faced with a loss of ¥507million ($76.5million/€64.8million), a drop from last year of 297.12 percent.
The net cash flow (from operating activities) brought a different story again for Ninestar: A loss of ¥75million ($11.3million/€9.6million) in Q3 was a decrease of 147.81 percent from the year before, and takes the corporation’s net cash flow for 2017 so far to a total loss of ¥238.9million ($36million/€30.5million).
Overall, total assets at the end of Q3 were worth ¥35.8billion ($5.4billion/€4.5billion), a comparatively gentle dip of 31.93 percent from the end of Q3 in 2016.