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CCW — Annual Report 2020
Mar 10, 2020
51896_rns_2020-03-10_2aa39ce7-fdad-41b6-ab57-314b382077e0.pdf
Annual Report
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Cathay Chemical Works, Inc.
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2020
CORPORATE INTRODUCTION
2019 Financial Results:
The company's net operating income for 2019 was more than 593 million, a decrease of 11.67% compared with 2018. The operating results of the Company for the year of 2019 and 2018 are as follows:
STATEMENTS OF COMPREHENSIVE INCOME
(NT $thousand)
| million, a decrease of 11.67% compared with 2018. The operatingresults of the Company for the year of 2019 and 2018 are as folloSTATEMENTS OF COMPREHENSIVE INCOME(NT$thou20192018YOYOperating Revenue593,203671,611(78,408)(1Operating Cost526,168596,551(70,383)(1Gross Profit67,03575,060(8,025)(1Operating Expensive52,85555,572(2,717) Operating Income14,18019,488(5,308)(2Non-OperatingIncome and Expenses84,11397,310(13,197)(1Income before Tax98,293116,798(18,505)(1Tax Expensive1,8291,326503 Net Income96,464115,472(19,008)(1Earning per Share0.640.76(0.12)(1 | million, a decrease of 11.67% compared with 2018. The operatingresults of the Company for the year of 2019 and 2018 are as folloSTATEMENTS OF COMPREHENSIVE INCOME(NT$thou20192018YOYOperating Revenue593,203671,611(78,408)(1Operating Cost526,168596,551(70,383)(1Gross Profit67,03575,060(8,025)(1Operating Expensive52,85555,572(2,717) Operating Income14,18019,488(5,308)(2Non-OperatingIncome and Expenses84,11397,310(13,197)(1Income before Tax98,293116,798(18,505)(1Tax Expensive1,8291,326503 Net Income96,464115,472(19,008)(1Earning per Share0.640.76(0.12)(1 | million, a decrease of 11.67% compared with 2018. The operatingresults of the Company for the year of 2019 and 2018 are as folloSTATEMENTS OF COMPREHENSIVE INCOME(NT$thou20192018YOYOperating Revenue593,203671,611(78,408)(1Operating Cost526,168596,551(70,383)(1Gross Profit67,03575,060(8,025)(1Operating Expensive52,85555,572(2,717) Operating Income14,18019,488(5,308)(2Non-OperatingIncome and Expenses84,11397,310(13,197)(1Income before Tax98,293116,798(18,505)(1Tax Expensive1,8291,326503 Net Income96,464115,472(19,008)(1Earning per Share0.640.76(0.12)(1 | million, a decrease of 11.67% compared with 2018. The operatingresults of the Company for the year of 2019 and 2018 are as folloSTATEMENTS OF COMPREHENSIVE INCOME(NT$thou20192018YOYOperating Revenue593,203671,611(78,408)(1Operating Cost526,168596,551(70,383)(1Gross Profit67,03575,060(8,025)(1Operating Expensive52,85555,572(2,717) Operating Income14,18019,488(5,308)(2Non-OperatingIncome and Expenses84,11397,310(13,197)(1Income before Tax98,293116,798(18,505)(1Tax Expensive1,8291,326503 Net Income96,464115,472(19,008)(1Earning per Share0.640.76(0.12)(1 | million, a decrease of 11.67% compared with 2018. The operatingresults of the Company for the year of 2019 and 2018 are as folloSTATEMENTS OF COMPREHENSIVE INCOME(NT$thou20192018YOYOperating Revenue593,203671,611(78,408)(1Operating Cost526,168596,551(70,383)(1Gross Profit67,03575,060(8,025)(1Operating Expensive52,85555,572(2,717) Operating Income14,18019,488(5,308)(2Non-OperatingIncome and Expenses84,11397,310(13,197)(1Income before Tax98,293116,798(18,505)(1Tax Expensive1,8291,326503 Net Income96,464115,472(19,008)(1Earning per Share0.640.76(0.12)(1 | million, a decrease of 11.67% compared with 2018. The operatingresults of the Company for the year of 2019 and 2018 are as folloSTATEMENTS OF COMPREHENSIVE INCOME(NT$thou20192018YOYOperating Revenue593,203671,611(78,408)(1Operating Cost526,168596,551(70,383)(1Gross Profit67,03575,060(8,025)(1Operating Expensive52,85555,572(2,717) Operating Income14,18019,488(5,308)(2Non-OperatingIncome and Expenses84,11397,310(13,197)(1Income before Tax98,293116,798(18,505)(1Tax Expensive1,8291,326503 Net Income96,464115,472(19,008)(1Earning per Share0.640.76(0.12)(1 | ||
|---|---|---|---|---|---|---|---|
| ws: sand) | |||||||
| 2019 | 2018 | YOY | |||||
| Operating Revenue | 593,203 | 671,611 | (78,408) | (1 | 1.67)% | ||
| Operating Cost | 526,168 | 596,551 | (70,383) | (1 | 1.80)% | ||
| Gross Profit | 67,035 | 75,060 | (8,025) | (1 | 0.69)% | ||
| Operating Expensive | 52,855 | 55,572 | (2,717) | (4.89)% | |||
| Operating Income | 14,180 | 19,488 | (5,308) | (2 | 7.24)% | ||
| Non-OperatingIncome and Expenses | 84,113 | 97,310 | (13,197) | (1 | 3.56)% | ||
| Income before Tax | 98,293 | 116,798 | (18,505) | (1 | 5.84)% | ||
| Tax Expensive | 1,829 | 1,326 | 503 | 37.93% | |||
| Net Income | 96,464 | 115,472 | (19,008) | (1 | 6.46)% | ||
| Earning per Share | 0.64 | 0.76 | (0.12) | (1 | 5.79)% | ||
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2020 PROSPECTS
Look for the year of 2020, the instability of globe economy is still shrouded in uncertainty. Especially, the outbreak of COVID-19 spreads across the world at the year began, yet every country is still battered by its contagion. Followed up the Brexit, the trade confrontation between China and the United States of America not ended yet, those are certainly affected to the global economy.
Under such circumstance, Cathay can only bound to strengthen the expansion of domestic market sales, hoping to maintain growth momentum.
In 2020, besides the routine task as taking responsible to reveal of monthly revenue, continuing to supervise, check and balance major issues that made by Board of Directors by the top management, the essential one is to reduce greenhouse gas to reach the criteria that Authority has set “the emission of greenhouse gas decreasing progressively yearly”. It is not only to
reduce the carbon dioxide emission, but the most effectiveness is to collect the waste gas to turn into heat energy for recycle use. It will certainly benefit to our surrounding environment.
On February 2015, Cathay got back the rezoned land of 16,643.45m[2] from Kaohsiung City Government. As it is indeed a great potential for development, thus Cathay is seeking the best interest for all shareholders.
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