Jinhui Holdings (00137) announced that its subsidiary company, in which it holds approximately 55.69% equity, Jinhui Shipping and Transportation Limited (Jinhui Shipping) achieved a revenue of 41.245 million USD in the second quarter of 2024, representing an 81% year-on-year increase.
Zhito Finance APP reported that jinhui holdings (00137) announced the third quarter and nine-month report of its subsidiary Jinhui Shipping and Transportation Limited ("Jinhui Shipping"), in which the company owns approximately 55.69% equity interest, as of the quarter and nine months ended September 30, 2024. In the third quarter, Jinhui Shipping achieved revenue of $46 million, a 127% year-on-year increase; net profit for the quarter was $8 million, compared to a comprehensive net loss of $8.079 million in the same quarter of 2023; basic earnings per share were $0.07.
For the nine months ended September 30, 2024, Jinhui Shipping realized revenue of $0.115 billion, doubling from the same period last year; net profit was $19 million, turning losses into profits year-on-year; basic earnings per share were $0.172.
It is reported that the comprehensive net loss in the same quarter of 2023 was due to unexpected decreases in freight rates in the weak bulk dry cargo shipping market and an impairment loss of $1.897 million recognized when a super large handy-type ship was reclassified as an asset held for sale at the time of the group's sale agreement.