On August 5, GLH announced that Tengy Env (01527.HK)'s net profit for the six months ended June 30, 2023 was approximately RMB 6,870,000, and it is expected that the net profit for the six months ended June 30, 2024 will increase by approximately 115.14% to about RMB 14,780,000.
The board of directors believes that the increase in net profit is mainly due to (i) the increase in gross margin of completed projects during the period; and (ii) the decrease in the raw material prices of the company's products.
