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Precious Dragon Technology Holdings Limited's (HKG:1861) 52% Price Boost Is Out Of Tune With Earnings
PRECIOUS DRAGON: 2024 Interim Report
CICC Securities: The chemical industry continued to fluctuate in the first half of the year, with strong tire exports and double growth in revenue and performance.
In the first half of 2024, the chemical industry achieved revenue of 1237.63 billion yuan, a year-on-year increase of +4.2%; net income attributable to the company was 75.25 billion yuan, a year-on-year increase of +0.8%.
Precious Dragon Tech Posts Steady Mid-Year Profits
Precious Dragon Announces Interim Dividend
Precious Dragon Technology (01861.HK) achieved a mid-year revenue of approximately 0.274 billion Hong Kong dollars, a year-on-year increase of approximately 3.0%.
On August 21, Gelonghui announced that as of June 30, 2024, the group recorded revenue of approximately HKD 274.2 million, an increase of approximately 3.0% compared to the same period in 2023. As of June 30, 2024, the group's parent company had a net profit of approximately HKD 24.0 million, a decrease of approximately 10.3% compared to the same period in 2023. The decrease in net profit of the parent company is mainly due to (including): (i) an increase in the group's gross margin due to an increase in bargaining power with suppliers; (ii) a focus on high-profit products.
Precious Dragon Technology Holdings Limited's (HKG:1861) 28% Price Boost Is Out Of Tune With Earnings
