Summary by Moomoo AI
Dongyue Group achieved significant operational results in the first half of 2024 in a complex domestic and international economic environment by grasping policy changes and industry advantages. The group's refrigerant business maintained stable demand due to supply restrictions under the quota system, with product prices continuing to rise, driving performance growth. In addition, the group accelerated the construction of 26 high-end applied materials projects, which are mostly completed, expected to bring new growth points to the group's performance. The group also implemented cost control measures and expedited the disposal of real estate business. For the six months ended June 30, 2024, the group recorded revenue of approximately RMB 7,261,012,000, with gross margin increasing to 19.83%, comprehensive division margin of 8.97%, operational margin of 9.37%, pre-tax profit of approximately RMB 672,878,000, and net profit of approximately RMB 395,208,000.
