Zhejiang Longsheng (600352): Reply To Annual Report
June 13th, Zhejiang Longsheng reply to the Shanghai Stock Exchange annual inquiry letter said that the price of domestic dyestuff, two benzene amine, and the fluctuation of sales volume in the third quarter and the fourth quarter were the main reasons for the third quarter main business to achieve a substantial increase in net profit and a sharp fall in the fourth quarter.
In addition, the company's annual auditor thinks that the company is not prepared for the depreciation of the materials and development costs on the way, and the provision for the inventory depreciation of the company's inventory is adequate.
The substantial increase in gross profit margin was mainly due to higher market share and higher price than the average level of industry.
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