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YTO INTL EXP: INTERIM REPORT 2024
Spotlight | COSCO Shipping Holdings rises more than 4%, leading the shipping sector. Central banks of various countries cutting interest rates may boost international trade, multiple disturbances affecting the shipping supply side.
Shipping and ports stocks continued to rebound recently. As of the time of publication, Cosco Shipping Holdings rose by 4.58%, Sinotrans Limited rose by 4.27%, OOIL rose by 2.11%, and Sitc rose by 3.29%.
Hong Kong stock concept tracking | In August, China's express delivery index increased by 12.6% year-on-year. Leading express delivery companies are seeking balance between volume, quality, and profitability (including concept stocks).
Express delivery industry Q2 profits steadily increasing, expectations of consistent price hikes in the peak season realized ahead of schedule.
YTO International Swings to Loss in H1
YTO International Express (06123.HK) reported a mid-term profit of approximately 2.975 billion Hong Kong dollars, a year-on-year increase of approximately 20.6%.
On August 21, YTO International Express (06123.HK) announced that for the six months ended June 30, 2024, the group recorded revenue of approximately 297.51 million Hong Kong dollars, an increase of approximately 20.6% year-on-year. The gross margin decreased by approximately 41.9% to approximately 174.1 million Hong Kong dollars. The gross margin is approximately 5.9% (first half of 2023: approximately 12.1%), while the group recorded a net loss attributable to shareholders of approximately 42.1 million Hong Kong dollars (first half of 2023: a net profit attributable to shareholders of 107.6 million Hong Kong dollars), a decrease of approximately 139.1%.
Express News | YTO International Express and Supply Chain Technology- Hy Loss Attributable HK$42.1 Mln
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