Chenbao New Material Group Limited (the "Company") announces the unaudited interim results for the six months ended 30 June 2024. During the period, the company's revenue reached RMB 196,868 thousand, an increase of 8.6% compared to the same period last year; gross profit reached RMB 78,388 thousand, with a gross margin of 39.8%. The profit for the period was RMB 48,208 thousand, an increase of 24.9% compared to the same period last year. Basic and diluted earnings per share were RMB 4.78 cents. The company's net assets were RMB 496,280 thousand, an increase of 10.7% compared to the end of last year. The company was listed on the Main Board of the Hong Kong Stock Exchange on 31 March 2023, and has successfully raised net proceeds of approximately HKD 155.4 million. The...Show More

Chenbao New Material Group Limited (the "Company") announces the unaudited interim results for the six months ended 30 June 2024. During the period, the company's revenue reached RMB 196,868 thousand, an increase of 8.6% compared to the same period last year; gross profit reached RMB 78,388 thousand, with a gross margin of 39.8%. The profit for the period was RMB 48,208 thousand, an increase of 24.9% compared to the same period last year. Basic and diluted earnings per share were RMB 4.78 cents. The company's net assets were RMB 496,280 thousand, an increase of 10.7% compared to the end of last year. The company was listed on the Main Board of the Hong Kong Stock Exchange on 31 March 2023, and has successfully raised net proceeds of approximately HKD 155.4 million. The company's main business is the development and production of biodegradable plastic products and non-biodegradable automotive plastic components, actively responding to China's environmental protection policies and regulations, and shifting its focus to the development and manufacturing of biodegradable plastic products. The company has established two production bases in Dongguan, Guangdong Province and Anji, Zhejiang Province, China in 2023 to expand its business to southeastern China. The Board of Directors does not recommend the payment of interim dividends.