SHINELONG announced its 2024 performance, with net profit attributable to shareholders of HKD 16.035 million, a year-on-year decrease of 22%
SHINELONG announced its 2024 performance, with revenue of approximately 238 million yuan, a year-on-year increase of 8.7%. The profit attributable to the company's owners was 16.035 million yuan, a year-on-year decrease of 22%. The basic earnings per share were 2.4 cents, and a final dividend of 0.719 Hong Kong cents per share was proposed. The increase in revenue was mainly due to the increase in the amount of the final acceptance report for automotive molds, while the decrease in profit was affected by factors such as increased costs for factory relocation and equipment handling, inventory impairment provisions, and reduced sales gross profit
According to the Zhitong Finance APP, SHINELONG (01930) announced its 2024 performance, with revenue of approximately HKD 238 million, an increase of 8.7% year-on-year. The net profit attributable to shareholders was HKD 16.035 million, a decrease of 22% year-on-year. The basic earnings per share were 2.4 cents, and a final dividend of 0.719 HKD per share was proposed.
The announcement stated that the increase in revenue was mainly due to the increase in the amount of final acceptance reports for automotive molds obtained in the 2024 fiscal year. The decrease in profit was mainly due to: increased costs related to the relocation of the factory and equipment handling; an increase in the provision for impairment of finished goods inventory of automotive molds; a decrease in gross profit from the sale of automotive molds, mainly due to a reduction in the amount of final acceptance reports obtained from a major customer with relatively high gross profit; and an increase in general and administrative expenses, among other comprehensive impacts
