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IBI Expects Net Profit to Surge 70% YoY in 1H2020
COVID-19 and China
All signs on green for e-commerce. Image credit: Mark König/Unsplash

IBI (603613:SH), a B2B e-commerce platform with 98.07% revenue generated from online transactions, released its semi-annual forecast for 2020 on July 15. The company expects revenue to be CNY 578 million to CNY 585 million, an increase of 131.92%-134.73% year-on-year.

It is estimated that the net profit will be approximately CNY 111 million to CNY 114 million, an increase of CNY 46 million to CNY 49 million, and an increase of around 70.76% to 75.38% YoY.

The increases in the company's online commodity transaction revenues dominated the forecast. To overcome the pandemic, the firm launched industrial products/raw materials livestreaming, 'Group Purchasing' and '618 promotions.' The transaction volume on the platform has risen rapidly, driving up revenue, gross profit and net profit. The way forward seems clear.

As an industrial Internet company, IBI has developed three major platforms: Tu Duoduo, Wei Duoduo, and Boduoduo. Since 2016, the compound annual revenue growth rate has reached 95%, 150%, and 215%, respectively.

Editor: Luke Sheehan
ANALYST
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