Shanghai Sinotec (603121.SH) released its 2024 interim report today, with revenue of 645 million yuan, a 7.67% year-on-year increase; net income attributable to shareholders of listed companies was 61.2908 million yuan, a 1.35% year-on-year decrease; net income attributable to shareholders of listed companies after deducting non-recurring gains and losses was 58.0622 million yuan, a 208.55% year-on-year increase; and the basic earnings per share was 0.18 yuan.
Due to the increase in market demand during the reporting period and the company's active expansion of the market, the operating income has increased compared to the same period last year. At the same time, fine production management has improved the gross profit margin. In addition, the investment income of 51.7932 million yuan from the sale of equity in an associated company last year was classified as non-recurring gains and losses, resulting in a lower base for net income attributable to shareholders of listed companies after deducting non-recurring gains and losses compared to the same period last year. Therefore, the net income attributable to shareholders of listed companies after deducting non-recurring gains and losses and the basic earnings per share after deducting non-recurring gains and losses have increased significantly from the same period last year.