Summary by Moomoo AI
Xinhua International Limited released its quarterly report for the quarter ended 31 March 2024, showing the financial and business performance of the company. The report showed that the company's net sales increased slightly to $859.6 million, the gross margin increased from 58.0% to 60.4%, and gross profit increased to $519.5 million. Operating profit and equity holders accounted for earnings of $149.8 million and $82.9 million, respectively, demonstrating the company's increased profitability. Adjusted EBITDA also grew to $161.2 million. Basic and diluted earnings per share increased. Cash flow from operating activities improved significantly, reaching $6.5 million in free cash flow. In addition, the Company conducted priority refinancing of credit fusion to enhance financial flexibility. Management believes that the use of non-IFRS measurement tools contributes to a more comprehensive understanding of the company's operating performance and business trends.