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World Precision Machinery reverses losses, reports earnings of RMB53.9 mil in 1Q update

Felicia Tan
Felicia Tan4/30/2021 06:37 PM GMT+08  • 2 min read
World Precision Machinery reverses losses, reports earnings of RMB53.9 mil in 1Q update
Revenue for the quarter surged 97.7% y-o-y to RMB290.8 million due to higher sales.
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World Precision Machinery has reported earnings of RMB53.9 million ($11.0 million) for the 1QFY2021 ended March, reversing from its losses of RMB5.1 million the year before.

Revenue for the quarter surged 97.7% y-o-y to RMB290.8 million due to higher sales in conventional stamping machines and high performance and high tonnage stamping machines.

Turnover was mainly derived from sales in Jiangsu, Zhejiang, Guangdong and Guangxi.

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