Gelonghui, August 21st, Ruikeda (688800.SH) released its semi-annual report. In the first half of 2024, the company achieved revenue of 958.1035 million yuan, a 47.81% year-on-year increase; net income attributable to the owners of the parent company was 64.9642 million yuan, a 2.55% year-on-year decrease; net income attributable to the shareholders of the listed company after deducting non-recurring gains and losses was 59.7895 million yuan, a 0.40% year-on-year decrease. The main reason for the revenue growth was the increase in new energy connector revenue in this reporting period.
The company's net income attributable to the owners of the parent company slightly decreased compared to the same period last year. The main reason was that while the company's income increased, the increase in costs and expenses exceeded the income growth rate, and the company's expense ratio increased significantly compared to previous years. Mainly due to the following reasons: first, various expenses of overseas Mexico and USA factories, construction of Taizhou Ruikeda base, depreciation of Sichuan Ruikeda base, and relocation expenses of Jiangsu Aili Ke factory increased; second, the increase in personnel led to a corresponding increase in staff salaries, increased institutional service fees due to organizational restructuring; third, to further enhance the company's competitiveness, the company increased its R&D investment, leading to an increase in R&D expenses; fourth, reduced exchange gains during the reporting period, increased interest expenses due to increased borrowing; fifth, continuous rise in prices of metal raw materials and plastic materials needed for the company's product production, resulting in a continuous increase in operating costs.
