Zhongbao New Materials (02439) announced its annual results for the year ended December 31, 2023. The group reaped benefits, people...
According to the Zhitong Finance App, Zhongbao New Materials (02439) announced results for the year ended December 31, 2023. The group obtained revenue of RMB 366 million (same unit), an increase of 22% over the previous year; profit attributable to the company's owners was RMB 83.97 million, an increase of 48.6% over the previous year; and profit per share was 8.8 points.
According to the announcement, the strong performance was due to the lifting of strict epidemic prevention measures during the current year. With the full resumption of economic activity in China and the lifting of travel restrictions, market sentiment and consumer spending improved greatly, driving the Group's sales of biodegradable plastic products to rise.