KA SHUI INT'L released its annual performance, with a loss attributable to shareholders of HKD 61.306 million, an increase of 115.6% year-on-year
KA SHUI INT'L released its annual performance for the year ending December 31, 2024, with revenue of HKD 1.482 billion, a year-on-year increase of 15.5%. However, the loss attributable to shareholders was HKD 61.306 million, an increase of 115.6% year-on-year, with a basic loss per share of HKD 0.0686. Although the revenue growth was mainly driven by the magnesium alloy business in China and the expansion of the factory in Mexico, the low-margin sales strategy and changes in the product mix led to a decline in overall gross profit margin, while operating costs and financing costs also increased due to business expansion
According to the Zhitong Finance APP, KA SHUI INT'L (00822) announced its annual performance for the year ending December 31, 2024, reporting revenue of HKD 1.482 billion, an increase of 15.5% year-on-year; the loss attributable to equity holders of the company was HKD 61.306 million, an increase of 115.6% year-on-year; basic loss per share was HKD 0.0686.
The announcement stated that the growth in turnover was mainly due to the increase in magnesium alloy business in China and the growth in sales of plastic products resulting from the expansion of the Mexican plant. However, the strategy of low margins and high sales, along with changes in the product mix, led to a temporary decline in the overall gross profit margin of the group. During the year, overall operating costs increased to support the growth in turnover. Additionally, the rapid expansion of the business supported by loan financing resulted in higher financing costs
