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Zhengye International (03363.HK) achieved a net profit of 15.026 million yuan in the first half of the year.
Zhengye Int'l (03363.HK) announced on August 23 that its revenue for the six months ended June 30, 2024, was approximately RMB 1.162 billion, basically flat. The gross margin of the group in the first half of 2024 was 14.08% (approximately 11.31% for the same period in 2023), an increase of 2.77% from the same period last year. This was mainly due to a 5.61% decrease in the purchasing price of raw materials compared to the same period last year, while the selling price of products increased slightly by 6.89%. During the review period, the group persisted in research and development innovation and proposed cost strategy and differentiation strategy. The papermaking division focused on the development of new products.
Express News | Zhengye International Holdings H1 Revenue RMB 1,161.8 Million
ZHENGYE INT'L: INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2024
Orient Securities: In July, China's paper and paperboard production increased by 11.5% year-on-year, and culture paper and specialty paper prices may gradually stabilize.
The cumulative output of machinery paper and paperboard from January to July 2024 increased by 13.5% year-on-year, with a production volume of 13.17 million tons in July, a year-on-year increase of 11.5%.
Zhengye Int'l (03363.HK) announced that it expects a net profit of 130 million to 180 million yuan in the first half of the year.
On August 9th, GeLong Hui reported that Zhengye Int'l (03363.HK) expects to record a net profit attributable to equity holders of the company between RMB 13 million to RMB 18 million for the six-month period ending on June 30, 2024. For the six months ended on June 30, 2023 (the "same period last year"), the equity holders of the company should have an attributable loss of RMB 15.58 million. The announcement stated that the main reason for the profit attributable to equity holders of the company was due to the year-on-year decline in the purchase price of raw materials in the first half of the year, while the product sales price slightly increased, resulting in a margin recovery.
Express News | Zhengye International - Expected Result as Prices of Raw Materials Declined YoY, Among Others
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