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Express News | Shandong Fengxiang - Qtrly Unaudited Total Revenue RMB1,474.4 Mln
FENGXIANG CO: INTERIM REPORT 2024
Shandong Fengxiang Posts Lower H1 Profit
fengxiang co (09977.HK) first-half revenue of 2.654 billion yuan, an 8.9% year-on-year increase.
On August 25th, Gelonghui reported that Fengxiang Co (09977.HK) announced that in the first half of 2024, the group achieved sales revenue of 2.654 billion yuan, an 8.9% year-on-year increase. Achieved a net income of 60.1 million yuan, a 26.8% year-on-year decrease. The group benefits from a multi-channel layout, with continued growth in export business and key customer business revenue; fine management by management and all employees enhances production efficiency and reduces costs; lower raw material prices and improved breeding efficiency further reduce breeding costs. Despite an increase in chicken product sales volume, soft consumer demand for chicken meat remains.
FENGXIANG CO: INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2024
Huachuang Securities: White chicken prices rebound in July, and industry profits may improve in the second half of the year.
From a long-term perspective, the cost-effectiveness and economic advantages of white chicken as the animal protein with the lowest feed-meat ratio will be further demonstrated, highlighting the long-term growth potential of the industry.
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