Wenzhou Hongfeng realized revenue of 1.390 billion yuan in the first half of 2023, up 33.80% year-on-year; net profit attributable to the mother of 57,036,800 yuan, up 325.90% year-on-year; basic earnings per share of 0.13 yuan; at the end of the report period, the total assets of 2.589 billion yuan, up 4.98% year-on-year; attributable to the mother of the owners of the equity of 991 million yuan, up 4.92% year-on-year. Among them, the company’s Cemented Carbide achieved revenue of 100.4917 million yuan, down 20.85% year-on-year, gross profit margin of 8.05%; particles and fiber-reinforced electric contact functional composites and components achieved revenue of 309.2828 million yuan, up 22.73% year-on-year, gross profit margin of 9.88%.
From January to June 2023, Wenzhou Hongfeng performance growth is mainly due to more gains from the disposal of subsidiary Timet equity during the reporting period, deducting non-net profit is less mainly by the convertible bonds recognized in this reporting period than the same period of the increase in finance costs, and the company invested in Hongfeng Copper Foil project is in the early stage of business growth costs and expenses are more caused by.
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