According to the Zhitong Finance App, Xinyi Power Storage (08328) announced results for the year ended December 31, 2023, with revenue of about HK$1,392 billion, up 30.5% year on year; profit attributable to company owners was HK$83.142 million, up 81.1% year on year; basic profit per share was HK10.59 cents.

According to reports, the increase in profitability was mainly due to an increase in the Group's gross profit due to increased revenue; and government subsidies were confirmed based on the Group's operating costs, but this was partly offset by an increase in financial costs due to increased bank loans due to the Group's business expansion.