BRIEF-Billion Industrial Says Profit For Year Amounted To RMB853.2 Million

March 20 (Reuters) - Billion Industrial Holdings Ltd :

* REVENUE FOR YEAR RMB9,396.9 MILLION, UP 9.2%

* PROFIT FOR YEAR AMOUNTED TO RMB853.2 MILLION, UP 10.2%

* GROUP IS INVESTING ABOUT US$185 MILLION TO SET UP PRODUCTION LINE FOR POLYESTER INDUSTRIAL YARN PRODUCTS

* TOTAL PRODUCTION CAPACITY OF NEW MANUFACTURING FACILITIES WILL BE ABOUT 250,000 TONS PER ANNUM

* NEW POLYESTER INDUSTRIAL YARN MANUFACTURING FACILITIES EXPECTED TO GRADUALLY COMMENCE COMMERCIAL PRODUCTION IN Q2 OF 2020

* GROUP IS INVESTING US$230 MILLION TO ESTABLISH A POLYESTER THIN FILM PRODUCTION LINE IN THREE YEARS FROM 2019 TO 2021

* DUE TO IMPACT OF COVID-19, THERE WAS SOME SHORT-TERM IMPACTS ON OVERALL TEXTILE INDUSTRY AND SALES OF GROUP Source text: bit.ly/2UmI3Oq Further company coverage: