China Evergrande Group (02489) announced that the group is expected to achieve a net profit increase of approximately RMB 26 million for the six-month period ending June 30, 2024.
China Evergrande Group (02489) announced that the group is expected to achieve a net profit increase of approximately RMB 26 million for the six-month period ending June 30, 2024, representing an increase of approximately 50% compared to the period ending June 30, 2023 (net profit of RMB 52.769 million).
The increase in net profit for the period is mainly attributed to: (i) an increase in gross profit due to the increase in average selling price; and (ii) an increase in interest income earned from the remaining balance of cash and cash equivalents of the group, partially offset by an increase in administrative expenses after listing.