Summary by Moomoo AI
Lee & Man Paper Manufacturing Limited announced its mid-term business performance for the six months ended June 30, 2024, showing that the company's revenue reached HKD 12.5 billion, a year-on-year increase of 2.4%. During the period, the profit increased significantly by 123.4% to HKD 0.806 billion, with earnings per share of 17.69 HK cents. The company declared a mid-term dividend of HKD 6.2 cents per share. During the reporting period, the papermaking industry was affected by the release of production capacity, but paper enterprises accelerated destocking, and pulp prices fluctuated due to the higher interest rates that raised borrowing costs. The group integrates upstream resources and develops a vertical business model to ensure stable supply chains of raw materials, reduce costs effectively, and improve...Show More
