On July 26, ZhongWang Fabric disclosed the 2021 semi-annual report. During the reporting period, the company achieved operating income of 277 million yuan, a year-on-year increase of 42.63%; net profit attributable to shareholders of the parent company was 76.265 million yuan, a year-on-year increase of 34.63%.

Regarding the reasons for the growth in performance, ZhongWang Fabric stated that in the first half of 2021, the company enjoyed the dividends of the demand for home textile products brought by the boom in the US real estate market, and also withstood the depreciation of the dollar, the increase in raw material prices, the serial test of rising logistics costs.

On the one hand, the company actively conducts product R&D and innovative design to increase the added value of products, so as to improve the company' s ability to deal with exchange rate fluctuations and rising costs, and rely on the company’ s long-term and stable cooperative relationship with customers to actively negotiate and negotiate to take operational risks brought by share exchange rate fluctuations and cost increases.

At the same time, the company actively promotes the construction of the fund-raising project "15 million meters of high-end decorative fabrics and R&D center construction project", and strives to release production capacity as soon as possible. During the reporting period, the investment in fund-raising projects amounted to 121 million yuan. As of the end of the reporting period, the total project investment reached 319 million yuan, which has exceeded 60% of the total project investment.

On the other hand, in accordance with exchange rate fluctuations and fund management needs, the company timely adjusts the foreign exchange settlement cycle and conducts forward foreign exchange settlement and sales with banks to reduce the impact of exchange rate fluctuations on the company.