Summary by Moomoo AI
Zhi Xin Group Holdings Limited ("the Company") announced its interim business performance for the six months ended June 30, 2024. During the period, the income was approximately RMB 244.1 million, an increase of about 5.7% compared to the same period last year. Gross profit increased by 38.9% to approximately RMB 45.5 million. However, the interim profit was approximately RMB 1.2 million, a decrease of about 89.0% compared to the same period last year. The group's main business is the manufacturing and supply of concrete building materials, and is engaged in the comprehensive utilization and production of eco-friendly bricks from iron ore tailings in Changjiang, Hainan Province. The group achieved a net profit of approximately RMB 1.2 million during the period, with a net profit margin of about 0.5%. Looking ahead, the group is optimistic about the business prospects of comprehensive utilization of iron ore tailings. The board of directors does not recommend the payment of interim dividends for the six months ended June 30, 2024.
