Changrun Diamond (stock code: 430713) recently announced the 2018 semi-annual report that as of June 30, 2018, the company realized revenue of 98.306 million yuan; the net profit attributable to the listed company shareholders was 3,278,919 yuan.
During the reporting period, the company achieved operating income of 98.306 million yuan, an increase of 18.54%; operating costs of 69.330 million yuan, an increase of 59.88%; sales expenses of 2,261,900 yuan, a year-on-year decrease of 1.78%; management costs of 14.8291 million yuan, an increase of 15.17 % (mainly R&D expenses increased by 11.63%); financial expenses were RMB 3.872 million, a year-on-year decrease of 11.12%; total profit was RMB 6,611,200, a decrease of 65.03% year-on-year. In the first half of 2018, the profit decreased sharply, mainly due to the decrease in the overall gross profit level of the company's products. In the same period of 2017, the sales of the high-growth products such as the spine were 1,005,400 carats, which achieved a higher profit level. In the first half of 2018, the products were made of traditional single crystal. Mainly, the gross profit level decreased more; the total debt reduction was mainly due to the repayment of bank loans of 20 million yuan and related party loans of 11 million yuan; in terms of operating cash flow, the inventory in the first half of the year decreased by 23.3272 million, and the accounts receivable decreased by 60.5730 million. Yuan, (reduced inventory is mainly to reduce inventory sales of diamonds in stock). The recovery of funds greatly increases the company's operating cash flow.
According to the data of the Caibei New Third Board Research Institute, Changrun Diamond Company is a typical industrial enterprise of superhard materials. It is one of the new material industries encouraged by the national industrial policy. The business focuses on synthetic diamond single crystals in superhard materials and The production, research and development of derivatives and the domestic market promotion of their own products, the sales scope is locked in the country.
The company's customers are mainly in the downstream synthetic diamond tool industry. In addition to the above conventional products, the company can provide customized products to customers under the premise of ensuring the market capacity of customized products and realizing the profitability of customized projects. Liaocheng Changrun Composite Materials Co., Ltd. focuses on the development and sales of superhard composite materials, and its wholly-owned subsidiary CRDiamondUSA, Inc. The business focuses on the sale of superhard composites in the North American market. Shanghai Changrun Ruirui Superhard Materials Co., Ltd. focuses on super-hard materials, mainly for the international market, providing customers with ultra-hard materials with narrower particle size range, more stringent parameters and more types.
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