Recently, Hainan Rubber disclosed its 2011 annual report. During the reporting period, Hainan Rubber achieved a total operating income of 10.528 billion yuan, a year-on-year increase of 66.44%, and a net profit of 761 million yuan, a year-on-year increase of 32.85%. Due to the decline in gross profit margin, the growth rate of net profit was lower than that of operating income.

The financial report shows that Hainan rubber's operating cost growth rate is faster than its operating income growth rate, and with the expansion of the trading scale of trade rubber products, the corresponding outsourcing rubber product cost will increase accordingly. Due to the lower gross profit margin of trade products, the overall gross profit margin of the company was lowered. From the product point of view, the operating margins of rubber products and rubber wood as the main sources of revenue were 14.39% and 38.6%, respectively, and the operating profit margin also fell 4.33% and 4.28%, respectively.

As for revenue increase, Hainan Rubber said that in the current period, the newly-added Zigong Yunnan Haijiao Rubber Industry Co., Ltd. is engaged in rubber raw material acquisition and sales of rubber products, and its subsidiary Shanghai Long Oak International Trade Co., Ltd., Haijiao Group (Singapore) Development Co., Ltd. Trade rubber products have expanded in size.

In addition, the Hainan rubber non-recurring profit and loss project lost 84.13 million yuan in the past year, eroding some of the company's profits, after deducting non-recurring gains and losses, net profit of Hainan rubber is actually 845 million yuan, an increase of 41.54% over the previous year.

Hainan Rubber also disclosed a quarterly report showing that the performance of the company has dropped significantly. In the first quarter of 2012, the company achieved revenue of 1.82 billion yuan, a year-on-year decrease of 5.9%; net profit attributable to shareholders of listed companies was 101 million yuan, a sharp drop of 46.48% year-on-year. While income was declining, operating costs rose by 15.15% to reach 1.581 billion yuan, resulting in operating profit dropped from 186 million yuan to 90.82 million yuan, resulting in a sharp decline in net profit.

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