On July 12th, GeLongHui reported that the net profit attributable to shareholders of listed companies for the first half of 2024 will be between 0.89 billion yuan to 1.044 billion yuan, a growth of 45% to 70% compared with the same period of last year; net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses will be 0.826 billion yuan to 0.979 billion yuan, a growth of 58% to 88% compared with the same period of last year; the basic earnings per share will be 0.4499 yuan/share to 0.5275 yuan/share.
During the reporting period, the demand for the domestic company's leading product, construction machinery, is still in the bottom-building stage in the industry. However, positive factors such as equipment renewal policy and national debt funds investment in infrastructure construction have brought new opportunities to the industry, supporting the overall demand decline; international market uncertainty has increased, and the international economy continues to face geopolitical risks, trade frictions and other challenges, leading to a decline in overseas construction machinery market demand.
During the reporting period, in response to unfavorable factors in the international and domestic markets, the company actively took measures to cope with them based on the '14th Five-Year Plan' strategy. The three core tasks of 'profit growth, business growth, and capability growth' were focused on, while the focus was increased on work transformation and innovation. The overall operational efficiency of the company has significantly improved, and both domestic and international market sales growth rates continue to outperform the industry, with a continued increase in market share. The improvement in gross margin and net margin exceeded expectations, promoting a significant increase in operating performance and cash flow in the first half of the year.