Summary by Moomoo AI
Xinte Energy Limited ("Xinte Energy") announced its interim performance for the six months ended June 30, 2024, with a 33.23% decrease in revenue compared to the same period last year, reaching RMB 11,743.10 million; the total loss amounted to RMB 941.21 million, compared to a total profit of RMB 6,442.25 million in the same period last year. The net loss attributable to the shareholders of the listed company was RMB 887.02 million, compared to a net profit of RMB 4,758.97 million in the same period last year. The basic earnings per share was RMB -0.62, compared to RMB 3.33 in the same period last year. The Board of Directors recommended not to declare an interim dividend. Xinte Energy stated that the decline in performance was mainly due to a significant decrease in the price of polysilicon. The company will continue to strengthen cost control and market development, and actively respond to market challenges.
