On February 27, Ge Longhui (605050.SH) announced the 2023 Annual Results Report. During the reporting period, the company achieved total operating revenue of 9.779 billion yuan, a decrease of 5.44% over the same period of the previous year; net profit attributable to shareholders of listed companies was 417 million yuan, an increase of 36.78% over the same period of the previous year; and net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss was 391 million yuan, an increase of 39.02% over the same period last year.
During the reporting period, the company's sales volume increased slightly compared to the same period last year. Due to a drop in product prices due to a drop in the price of the company's upstream raw materials, the company's revenue decreased compared to the same period last year; in 2023, the company's end user sales share increased compared to the same period last year, and the gross margin of end user sales was higher, so the company's net profit in 2023 increased more than in the same period last year.