On November 28, hk sh alliance (01001.HK) announced that in the first half of the 2024/25 fiscal year, due to the average steel prices falling, the group's revenue decreased by 20.6% year-on-year to 0.99 billion Hong Kong dollars. The attributable net profit of the company reached around 54.9 million Hong Kong dollars, a slight increase of about 3.2% compared to the same period last year. Basic earnings per share of ordinary shares were 8.60 Hong Kong cents.
The global economy has shown some resilience, but it also faces certain challenges. Although there are signs of recovery in issues such as supply chain disruptions and inflation pressures, the tense geopolitical situation and ongoing trade disputes have brought uncertainty to global markets. This has led to fluctuations in steel prices, affecting the group's sales performance. Coupled with a complex external environment, volatile monetary policies, and weakened business and consumer confidence, all these factors have posed various challenges to the business of this group in Hong Kong and Shanghai.
To cope with the changing external environment, the group rapidly adjusted its business strategy and specific implementation plans to maintain overall profitability. In the Hong Kong market, besides maintaining its effective steel procurement mechanism to reduce profit risks brought by steel price fluctuations, the group is also pleased to see steady progress in its prefabricated steel reinforcement value-added solutions with market adoption rates steadily increasing. In the Shanghai market, the group has shown the ability to quickly adapt to market changes, delivering satisfactory performance in occupancy rates and rental income.
