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Huajin Intl (02738.HK) first-half earnings exceeded 3.2 billion yuan, a year-on-year increase of 7.7%.
On August 30th, Guolanghui announced its interim results. For the six months ended June 30, 2024, the Group achieved a revenue of approximately CNY 3.2065 billion, an increase of approximately CNY 0.2297 billion or 7.7% compared to the first half of 2023. The company's attributable net profit for the first half of 2024 was approximately CNY 16.9 million, a decrease of approximately CNY 22.5 million or 57.1% compared to the first half of 2023. The main reason for the decrease in the group's net profit in the first half of 2024 was the sale of hot-rolled steel.
Express News | Huajin International Holdings H1 Gross Margin 2.9%
Express News | Huajin International Holdings H1 Revenue RMB 3,206.5 Million
HUAJIN INTL: INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2024
CITIC Securities: Steel prices fluctuate and seek the bottom, waiting for demand to recover.
Currently, as we approach the end of August, whether the demand will improve in the later period will be the key to whether steel prices will stop falling and rebound, given the significant reduction in production in steel mills.
Huajin International Expects Lower H1 Profit
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