Zhitong Financial APP News, Sangao Holdings (00412) announced its interim results for the six months ended June 30, 2023. The group made a profit of HK $3.074 billion during the period, an increase of 152.65% over the same period last year; a gross profit of HK $1.662 billion, an increase of 144.15% over the same period last year; and a profit of HK $177 million before tax.
In terms of investment strategy, the group focuses on new energy, new infrastructure and other strategic emerging industries, deeply excavates investment opportunities, combines controlling equity investment with minority equity investment, and aims to find and hold high-quality assets, the announcement said. In the first half of the year, we conducted in-depth research and demonstration around the subdivided tracks such as semiconductors, big data, energy storage technology and photovoltaic modules, and have selected a number of high-quality investment targets.
During the reporting period, thanks to the strategic synergy brought about by the Group's resource integration, the Industrial Investment Business Division made a profit of about HK $486 million.