Business
Qilian International Holding Group Limited Reports Fiscal Year 2021 Financial Results
JIUQUAN, China, Feb. 11, 2022 /PRNewswire/ -- Qilian International Holding Group Limited (Nasdaq: QLI) (the "Company", "Qilian International", "we", "our" or
About this update from Bgm Group Ltd.
[{"type":"text","content":"JIUQUAN, China, Feb. 11, 2022 /PRNewswire/ -- Qilian International Holding Group Limited (Nasdaq: QLI) (the \"Company\", \"Qilian International\", \"we\", \"our\" or \"us\"), a China-based pharmaceutical and chemical products manufacturer, today announced its unaudited financial results for the fiscal year ended September 30, 2021.\nMr. Zhanchang Xin, Chairman and CEO of the Company, commented, \"The fiscal year 2021 was an excellent year for the Company. Compared with the fiscal year 2020, our revenue grew by 14%, or $7.1 million, to $57.1 million, which was made possible due to consistent execution and solid progress of our business strategies. Despite the ongoing macro challenges in 2021 and the impact of regional resurgence of COVID-19 pandemic, our focus remained on expanding production capacity, and we also made substantial progress on the expansion of our new organic fertilizer production facility. In 2022 and beyond, we intend to complete the construction of a pig by-product processing facility for heparin sodium production, and fully complete the construction of our new organic fertilizer production facility. We will also continue to increase our research and development efforts and provide high-quality products to our customers. We believe our business strategy will further fuel growth in 2022, driving further improvements in our operational and financial performance, and creating long-term value for all stakeholders.\" \nFiscal Year 2021 Financial Highlights\nFor the years ended September 30,\n($'000, except per share data)\n2021\n2020\n%Change\nRevenue\n$\n57,100\n$\n50,033\n14\n%\nGross profit\n$\n5,639\n$\n7,539\n(25)\n%\nGross margin\n9.9\n%\n15.1\n%\n(5.2)\n%\nIncome from operations\n$\n2,388\n$\n4,811\n(50)\n%\nNet income\n$\n3,108\n$\n4,940\n(37)\n%\nNet Income attributable to Qilian International Holding Group Limited (\"Qilian International\")\n$\n3,153\n$\n5,064\n(38)\n%\nBasic and diluted earnings per share\n$\n0.09\n$\n0.17\n(47)\n%\n \n●\nRevenue increased by 14% year-over-year to $57.1 million for the fiscal year ended September 30, 2021 from $50.0 million for the fiscal year ended September 30, 2020. The increase in revenue was primarily attributable to a $6.4 million increase in sales from heparin products and sausage casings, and a $0.8 million increase in sales from oxytetracycline products, licorice...