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Is Prinx Chengshan Holdings (HKG:1809) Using Too Much Debt?
PRINX CHENGSHAN: INTERIM REPORT 2024
The profitability of Prinx Chengshan (1809.HK) continues to improve, continuously unleashing its potential.
On August 23, Prinx Chengshan (1809.HK) announced its mid-term performance for 2024. The financial report shows that Prinx Chengshan achieved a revenue of approximately 5.363 billion yuan, a year-on-year growth of 23.7%; gross profit of 1.32 billion yuan, a year-on-year growth of 60.4%; shareholder's net income of 0.811 billion yuan, a significant year-on-year increase of 148.0%, with a net profit margin of 15%. In addition, Prinx Chengshan declared a interim dividend of HKD 0.15 per share. Since last year, the downstream demand in the tire industry has remained strong, and tire companies have accelerated capacity expansion and innovation of products, highlighting the Matthew effect. Prinx Chengshan stands out and delivers strong performance.
Returns on Capital Paint A Bright Future For Prinx Chengshan Holdings (HKG:1809)
Minsheng Securities: Accelerating the globalization of China's tire industry by leveraging the advantages of intelligent manufacturing.
Chinese tire companies have significant advantages in terms of labor costs and intelligent manufacturing. In the short term, they have achieved rapid expansion based on the population dividend. In the medium term, they are accelerating the globalization process with the advantage of intelligent manufacturing. In the long term, they are expected to obtain brand premium based on their technical strength.
Prinx Chengshan (01809) announced its interim results, with a net profit attributable to shareholders of 0.8114 billion yuan, an increase of 1.48 times year-on-year.
Prinx Chengshan (01809) announced its mid-term performance for 2024, with revenue of approximately 5.363 billion yuan, a year-on-year growth of 23....
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