Billion Ind (02299.HK) announced its interim performance on August 26th. In the first half of 2024, the revenue reached 10.62 billion yuan, an increase of 41.5% compared to the same period last year. The net profit in the first half of 2024 reached 0.327 billion yuan, an increase of 62.4% compared to the same period last year. Earnings per share reached 0.15 yuan.
During the review period, the group's gross profit was 0.732 billion yuan, an increase of 85.0% compared to the same period last year. The sales volume during the review period increased by 44.2% compared to the first half of 2023. The average selling price per ton of products decreased from 7,724 yuan in the first half of 2023 to 7,583 yuan during the review period, with an average decrease of 141 yuan per ton, or 1.8%. The average cost per ton of products also decreased from 7,317 yuan in the first half of 2023 to 7,060 yuan during the review period, with an average decrease of 257 yuan per ton, or 3.5%. Therefore, the average gross profit per ton of products increased from 407 yuan in the first half of 2023 to 523 yuan during the review period. The gross margin increased from 5.3% in the first half of 2023 to 6.9% during the review period, an increase of 1.6 percentage points.