On August 20th, GeLongHui reported that Xinjiang Guannong's (600251.SH) 2024 semi-annual report showed that during the reporting period, revenue was 2.402 billion yuan, a year-on-year decrease of 1.00%; net income attributable to shareholders of listed companies was 0.302 billion yuan, a year-on-year decrease of 35.17%; net income attributable to shareholders of listed companies excluding non-recurring gains and losses was 0.3 billion yuan, a year-on-year decrease of 36.18%; basic earnings per share were 0.3893 yuan.
The decrease in net income is mainly due to the increase in the cost of product inventory caused by the increase in the purchase price of cotton and tomato raw materials in the 2023 production season, while the market sales price has not changed significantly with the increase in cost, resulting in a decrease in gross profit of cotton and large packaging tomato sauce.