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Pulling Back 24% This Week, Xin Yuan Enterprises Group's HKG:1748) Five-year Decline in Earnings May Be Coming Into Investors Focus
Xin Yuan Enterprises Group Foresees 80% Surge in H1 Profit
xin yuan ent (01748.HK) plans to hold a board of directors meeting on August 27th to approve its mid-term performance.
Xin Yuan Ent (01748.HK) announced that the board of directors meeting will be held on Tuesday, August 27, 2024 to consider and approve the mid-term performance of the company and its subsidiaries for the six months ended June 30, 2024, and to consider recommending the distribution of interim dividends (if any).
XIN YUAN ENT: NOTICE OF BOARD MEETING
Xin Yuan Ent is pleased to report that its mid-term net profit is expected to increase by over 80% year-on-year.
Xin Yuan Ent (01748) announced that the group is expected to achieve an unaudited net profit increase of over 80% for the six months ending June 30, 2024 (this period), compared to a net profit of about 5.5 million USD for the six months ended June 30, 2023. The board of directors believes that the expected increase is mainly due to the net realized gains from the sale of ships of about 3.6 million US dollars during this period; and the increase in revenue generated by asphalt voyage leasing services.
Xin Yuan Ent (01748.HK) Yingxi: It is expected that the mid-term net profit will increase by over 80% year-on-year.
Xin Yuan Ent (01748.HK) announced on August 9th that, compared with a net profit of approximately $5.5 million for the six months ended June 30, 2023, the group expects to achieve an unaudited net profit increase of more than 80% for the six months ending June 30, 2024. Based on currently available information, the board of directors believes that the expected increase is mainly due to (1) the net realized gain of approximately $3.6 million from the sale of ships during the period; and (2) the increase in revenue generated by the asphalt vessel time charter services.
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