According to Zhitong Financial App, Wenling Metallurgy Tool (01379) announced its 2023 interim results. Revenue was RMB 62.074 million (same unit), up 114.25% year on year; profit for the period was 157.03 million yuan, up 19.15% year on year; profit of 0.2 yuan per share.

According to the announcement, the increase in revenue was mainly due to the increase in rent revenue contributed by the Science and Technology Innovation Park during the period to RMB 4.2 million compared to the same period in 2022; and the confirmed property sales volume of the Science and Technology Innovation Park with a construction area of about 7727.06 square meters during the period. The amount was about RMB 28.2 million, while the revenue for the same period in 2022 was zero.

Net interest rate decreased to 25.3% from 45.5% in the same period last year, mainly due to lower profit margins and valuation losses on property sales for the six months ending June 30, 2023.