Zhenghai Magnetic Materials (300224.SZ) released its 2023 annual report. The company's revenue was 5.884 billion...
According to the Zhitong Finance App, Zhenghai Magnetic Materials (300224.SZ) released its 2023 annual report. The company's revenue was 5.874 billion yuan, a decrease of 7.05% over the previous year. Net profit attributable to shareholders of listed companies was $448 million, up 10.74% year on year. Net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss was 385 million yuan, an increase of 0.34% over the previous year. Basic earnings per share were $0.55.
During the reporting period, the company deeply cultivated its main business, actively expanded the market, continued to reduce internal costs and increase efficiency, and achieved a sharp year-on-year increase in production and sales of high-performance NdFeB permanent magnet materials. However, due to factors such as continued fluctuating downward prices of rare earth raw materials, slow recovery in downstream market demand, and increasingly fierce industry competition, the company's high-performance NdFeB permanent magnet product prices were under pressure, and operating income declined slightly year-on-year.
Furthermore, it is proposed to distribute a cash dividend of 2 yuan (tax included) for every 10 shares to all shareholders.