Summary by Moomoo AI
China Conch Enterprises Holdings Limited (“Conch Enterprise”) announced its results for the year ended 31 December 2023 with revenues of approximately RMB8,015.21 million, an increase of 1.51% year-on-year. However, the company's equity shareholders accounted for a net profit of approximately RMB2,463.71 million, down 36.04% from the same period last year. Primary net profit (net of profit attributable to joint ventures) was approximately RMB801.24 million, down 12.47% year-on-year. The Board of Directors proposes to declare a final cash dividend of HK$0.20 per share. During the reporting period, Conch Enterprises actively expanded its business including waste disposal, energy-efficient equipment, new building materials, new energy business and port logistics, and achieved a steady increase in business size and efficiency through extended expansion and inorganic development. During the reporting period, the Company repurchased 3,039,500 shares of the common stock company at a total cost of HK$18,731,410. The Board of Directors confirms that all directors comply with the “Code of Standards for Securities Transactions by Listed Issuer Directors” during the reporting period.
