Beteray: Achieved revenue of 251.19 billion yuan and a net profit attributable to shareholders of 1.651 billion yuan in 2023

Beteray released its annual performance report for 2023. In 2023, the company achieved operating revenue of 25.119 billion yuan, a year-on-year decrease of 218%. The net profit attributable to shareholders of the listed company was 1.651 billion yuan, a year-on-year decrease of 28.50%. Regarding the main reasons for the performance change, the company stated:

(1) During the reporting period, intensified industry competition and downward pressure on product sales prices led to a slight decrease in sales revenue, despite the growth in product sales volume. Meanwhile, the company strengthened inventory control by reducing costs and implemented lean management to improve operational efficiency. As a result, the investment income from joint ventures and associates decreased by approximately 240 million yuan compared to the same period last year. The net profit attributable to shareholders of the listed company, excluding non-recurring gains and losses, only experienced a slight decline.

(2) The decrease in investment income and fair value changes during the reporting period compared to the same period last year was the main reason for the decline in net profit attributable to shareholders of the listed company. In 2022, investment income was higher, mainly due to the disposal of a portion of the equity of Fangyuan shares held by the company, which accumulated investment income of 596 million yuan in the fourth quarter of 2022.

Originally created by Yushuo LIANG. More info:florencehu@smm.cn