Absen’s latest announcement: Net profit in the first three quarters is expected to increase by 290.03%-294.26%

Absen announced on October 10 that the net profit attributable to the parent company in the first three quarters is expected to be 112 million yuan to 115 million yuan, a year-on-year increase of 290.03% to 294.26%.

Due to the impact of the epidemic and economic downward pressure during the reporting period, operating income in the Chinese market declined year-on-year in 2021; however, with the full recovery of overseas markets, operating income in the international market in the first three quarters of 2022 increased by nearly 100% year-on-year in 2021; the implementation and implementation of the company's "domestic and internal offensive" strategy in 2022 provided a guarantee for the overall stable growth of the company's performance in the uncertain external economic environment in 2022.

The company achieved a gross profit margin of approximately 31.46% in the first three quarters, a significant increase of approximately 10.53% compared to 20.93% in 2021; changes in China and international sales structures, and the comprehensive recovery of the international market are the main reasons for the substantial increase in gross profit margin in the first three quarters; in addition, the company's significant year-on-year increase in operating income in the first three quarters of 2022 has reduced the factory's manufacturing overhead rate, economies of scale have emerged, and the overall gross profit margin has increased.