PVTIME – On March 28, the first quarter financial performance forecast released by TBEA reveals that the company is expecting net profit in Q1 2022 to be between 3.9 to 4.4 billion yuan, an increase of 69%-90% compared to the same period last year.
The net profit attributable to shareholders in Q1 2022 stands at 2.8 to 3.3 billion yuan, a year-on-year increase of 32%-56%. The net profit attributable to shareholders after deduction of non-recurring gains and losses to be 3-3.5 billion yuan, good for a massive increase of 460-533% compared to the same period last year.
TBEA attributes this quarterly increase in performance to the company’s expansion of market combined with the reasonable management and development of overall businesses during the reporting period also contributed to the increase in profits.
Moreover, TBEA noted that this forecast data for Q1 2022 might be influenced by the fluctuations in the stock price of its holding of shares in China Southern Power Grid as the first quarter has not yet ended.
