Business
Qilian International Holding Group Limited Reports Financial Results for the First Six Months of Fiscal Year 2021
Jiuquan, China, Sept. 16, 2021 (GLOBE NEWSWIRE) -- Qilian International Holding Group Limited (Nasdaq: QLI) (the “Company”), a China-based pharmaceutical and
About this update from Bgm Group Ltd.
[{"type":"text","content":"Jiuquan, China, Sept. 16, 2021 (GLOBE NEWSWIRE) -- Qilian International Holding Group Limited (Nasdaq: QLI) (the “Company”), a China-based pharmaceutical and chemical products manufacturer, today announced its unaudited financial results for the first six months of fiscal year 2021 ended March 31, 2021. Mr. Zhanchang Xin, Chairman and CEO of the Company, commented, “We are pleased with our financial results for the first six months of fiscal year 2021. Our revenue increased by 8% to $29.9 million, which we believe demonstrates our continuous growth potential.” “Looking forward, we believe our heparin product will benefit from the current market trend. Driven by the increasing demand for clinical anticoagulants globally, the export price of raw material medicine heparin soared, rising by nearly 269% year-on-year in June 2021, setting a record high. The production volume of heparin raw materials in China ranks first in the world, and the supply of heparin raw materials from producers in China accounts for about 50% of global demand. After our new pig by-product processing facility is built and put into operations, it will further boost our production capability of heparin sodium preparations. We expect to seize market opportunities and continue expanding our capabilities as we see some return to normalcy in our everyday lives. We remain focused on driving momentum in our business that will strive to achieve sustainable development and create long term value for our shareholders, ” Mr. Xin added. Financial Highlights for the Six Months Ended March 31, 2021 For the Six Months Ended March 31, ($’000, except per share data) 2021 2020 % Change Revenue $29,939 $27,759 8%Gross profit $4,091 $6,228 (34)%Gross margin 13.7% 22.4% (9)%Income from operations $2,272 $4,793 (53)%Net income $2,245 $4,183 (46)%Net Income attributable to Qilian International Holding Group Limited (“Qilian International”) $2,351 $3,858 (39)%Basic and diluted earnings per share $0.07 $0.13 (46)% ●Revenue increased by 8% year-over-year to $29.9 million for the six months ended March 31, 2021 from $27.8 million for the same period of the prior fiscal year. The increase in revenue is primarily attributable to the increased revenue from the sales of oxytetracycline products and the appreciation Renminbi (“RMB”) against U.S. dollars (“USD”). ●Gross profit decreased by 34...