Summary by Moomoo AI
Cofco Packaging announced its interim performance on 30 June 2024, with revenue growing 4.8% year-on-year to around RMB 5.548 billion. Profit before tax, interest and depreciation increased 7.6%, while net profit during the period increased slightly by 1.2% to approximately RMB 0.275 billion. Basic earnings per share were RMB 0.240, down 2.3% YoY from RMB 0.245. The company announced that no dividend will be declared before the deadline of the tender offer. The board of directors of Cofco Packaging Holdings Limited announced that unaudited interim financial information shows the overall financial position of the company and its subsidiaries is robust. The company's main business is the manufacture of packaging products and has several operating subsidiaries and joint ventures in China. Regarding changes in the board of directors, Mr. Zhang Xin retired, and Mr. Zhang Ye was appointed chairman of the board, and Mr. Qu Hongliang was appointed executive director and CEO. The company emphasized that it will continue to focus on market changes, enhance core competitiveness, and promote overseas project production and operation.
