Zitong Financial App News, China Glass (03300) released its results for 2021, with income of about 5.065 billion yuan (the same as below), an increase of 60% over the same period last year; profit attributable to equity shareholders of the company was 736 million yuan, loss attributable to 2020 was 84.713 million yuan; basic profit per share was 44.24 cents, final dividend per share was HK $0.050.

The group produced 40.93 million heavy cases of all kinds of glass in 2021, up 15 per cent from last year, with sales of 39.4 million heavy cases, up 8 per cent from last year, the notice said. During the year, the average selling price of all kinds of glass products was 123 yuan per heavy case, an increase of 49 percent over last year.

The increase in revenue is mainly due to a combination of factors such as the increase in the market price of glass this year, resulting in an annual average price increase of 49% over last year and an 8% increase in sales over last year.

The turnround is mainly due to the strong overall performance of the glass market, the increase in the group's average selling price, sales volume and gross profit margin, and the increase in effective production capacity of the group, which promotes the growth of economies of scale; and the improvement of the level of internal management makes the combined growth percentage of various costs and expenses lower than the percentage of income growth, resulting in a significant increase in the profitability of the group.