Neway Valve Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2021
April 29, 2021 at 12:51 pm EDT
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Neway Valve (Suzhou) Co., Ltd. announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced sales was CNY 776.166 million compared to CNY 700.859 million a year ago. Operating income was CNY 66.908 million compared to CNY 110.752 million a year ago. Net income was CNY 58.994 million compared to CNY 97.650 million a year ago. Basic earnings per share from continuing operations was CNY 0.08 compared to CNY 0.13 a year ago.
Neway Valve Suzhou Co Ltd is a China-based company primarily engaged in the production and research and development of industrial valves. The Companyâs main business is to provide customers with industrial valve solutions. The Companyâs main products include ball valves, butterfly valves, gate valves, globe valves, check valves, control valves, nuclear valves, subsea valves, safety valves and other products. The Companyâs products are used in petroleum, natural gas, refining, chemicals, shipbuilding and offshore engineering, power plants, long-distance pipelines, new energy and other industries. The Companyâs other products include actuators, control systems, manifolds, data header and other oil equipment applied to gas and oil industry. The Company conducts its business in the domestic and overseas markets.