Zhitong Financial App News, Baolong Technology (01861) announced interim results for 2021, with revenue of about HK $287 million, down about 16.6% from the same period last year. The profit attributable to the owners of the parent company was HK $7.089 million, down about 76.3 per cent from a year earlier. Earnings per share are HK3 cents, with an interim dividend of HK0.36 cents per share.

The announcement said that the sharp reduction in net profit attributable to company owners was mainly due to, among other things, the continuing COVID-19 epidemic and the global economic slowdown, which led to a decline in overseas sales, and a sharp rise in the price of raw materials, including tinplate containers, solvents and gases. During the COVID-19 epidemic, overseas sales orders were adversely affected by a surge in shipping costs due to longer berthing time of cargo ships.