Summary by Futu AI
Solar Energy Holdings Limited announced its annual results for the year ended 31 December 2023 with revenues of RMB7,192.9 million, an increase of 4.7% over the same period last year. The company turned a profit and recorded an annual profit of about RMB141.7 million from continuing operations, compared with a loss of about RMB134.7 million for the same period last year. Profit attributable to the shareholders of the parent company was RMB111.9 million and RMB957.2 million last year, mainly due to the sale of the interests in Qujing Solar New Energy Co., Ltd., last year. The gross margin increased from 3.9% last year to 6.4% and gross profit increased by 68.8%. Administrative expenses increased, mainly due to increased hiring to support business expansion. Financing costs fell and no final dividend was paid. The company focuses on the production and sale of photovoltaic components and is actively expanding the PV system construction and application business. Looking ahead, the company expects continued growth in the photovoltaic industry demand and to contribute to its “dual-carbon” strategic goal.