Xusheng Group Reports Net Profit of RMB 323 Million in First Three Quarters of 2024, Down 42.83% YoY

Опубликовано: Nov 1, 2024 11:58
[Xusheng Group: Net Profit of RMB 323 Million in the First Three Quarters of 2024] Ningbo Xusheng Group Co., Ltd. has released its third-quarter report for 2024. According to the report, the company's revenue for the first three quarters amounted to RMB 3.274 billion, representing a year-on-year decrease of 8.42%. The net profit stood at RMB 323 million, marking a year-on-year decline of 42.83%. Specifically, in the third quarter, revenue reached RMB 1.125 billion, down 7.4% compared to the same period last year, while the net profit was RMB 58.2118 million, a significant drop of 65.96% year-on-year. The fluctuations in performance during the reporting period were mainly attributed to factors such as slightly decreased operating revenue due to weaker-than-expected terminal sales by some customers, a decline in gross profit margin caused by the rising prices of primary raw material aluminum ingots, and increased interest expenses from convertible bonds.

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[Xusheng Group: Net Profit of RMB 323 Million in the First Three Quart - Shanghai Metals Market (SMM)