PM PACKAGING released its 2024 annual performance, reporting a loss of 19.374 million yuan for the year, a year-on-year turnaround from profit to loss
Jifeng Packaging released its 2024 annual performance, with operating revenue of 2.132 billion yuan, a year-on-year increase of 6.5%. However, it incurred a loss of 19.374 million yuan during the year, compared to a profit of 22.414 million yuan in the same period last year, with a basic loss per share of 0.06 yuan. Gross profit was approximately 324 million yuan, a year-on-year decrease of 5.1%. The gross profit margins for sales of corrugated paper packaging products and corrugated cardboard decreased by 4.6% and 14.0%, respectively. The gross profit margin fell from 17.1% to 15.2%, mainly due to a decline in unit price and initial losses from the new factory
According to the Zhitong Finance APP, PM PACKAGING (01820) announced its annual performance for the year ending December 31, 2024. The group achieved operating revenue of RMB 2.132 billion, an increase of 6.5% year-on-year; it recorded a loss of RMB 19.374 million for the year, compared to a profit of RMB 22.414 million in the same period last year; the basic loss per share was 6 cents.
The announcement stated that the group's gross profit for the year was approximately RMB 324 million, a decrease of about 5.1% from approximately RMB 341 million in 2023. The gross profit from the sale of corrugated paper packaging products decreased by approximately 4.6% to RMB 310 million, while the gross profit from the sale of corrugated cardboard decreased by approximately 14.0% to RMB 13.8 million. The group's gross profit margins for the current year and 2023 were 15.2% and 17.1%, respectively. The gross profit margins for the sale of corrugated paper packaging products for the current year and 2023 were 16.2% and 18.0%, respectively, while the gross profit margins for the sale of corrugated cardboard were 6.4% and 8.4%, respectively. The gross profit margin for the current year decreased compared to 2023, mainly due to the decline in unit price being greater than the decline in the unit cost of raw paper, along with initial losses from two new factories
