GUANGDONG HONGTU's net profit attributable to shareholders for the year 2024 is 416 million yuan, a year-on-year decrease of 1.65%
GUANGDONG HONGTU released its 2024 annual performance report, with total operating revenue of 8.053 billion yuan, a year-on-year increase of 5.76%; net profit attributable to the parent company was 416 million yuan, a year-on-year decrease of 1.65%. The company alleviated the profit pressure brought by intensified industry competition through strengthened cost control and technological innovation. The wholly-owned subsidiaries Guangzhou Hongtu and Tianjin Hongtu are in the growth phase of operations, leading to a slight decline in overall net profit. However, excluding the impact of these two projects, both net profit and operating revenue achieved positive growth
According to the Zhitong Finance APP, Guangdong Hongtu (002101.SZ) disclosed its performance report for the year 2024. In 2024, the company achieved total operating revenue of 8.053 billion yuan, a year-on-year increase of 5.76%; the net profit attributable to shareholders of the listed company was 416 million yuan, a year-on-year decrease of 1.65%.
During the reporting period, the company continued to focus on key target tasks, strengthened cost control, promoted technological innovation, lean production, and full-process value management, achieving quality improvement, cost reduction, and efficiency enhancement, which effectively mitigated the adverse impact of the declining profit margins due to intensified industry competition on the company's performance. Due to the fact that the wholly-owned subsidiaries Guangzhou Hongtu and Tianjin Hongtu were in the growth phase of operations during the reporting period, with gradually increasing production capacity and high cost expense ratios, the current operations did not achieve profitability, which affected the overall net profit attributable to the parent company, resulting in a slight year-on-year decline; however, excluding the impact of the Guangzhou and Tianjin projects, the net profit attributable to the parent company and operating revenue both showed positive growth during the reporting period
