(Infocast News) ZHEJIANG SHIBAO (01057) expects that the net profit attributable to shareholders of listed company for the twelve months from 1 January to 31 December 2020 is between RMB40 million and RMB50 million (corresponding period of last year: net loss of RMB176.71 million).

During the reporting period, the COVID-19 epidemic in the PRC has been alleviated, and the economy has been gradually recovered, which has driven the increase in sales of automobiles, resulting in the growth of the company's revenue, in particular, the growth in certain businesses with higher profits is higher than the overall level. The company expects a turnaround from net loss to net profit during the reporting period by recording a net profit estimated to be RMB40 million to RMB50 million.

(WL)