Zhongshen Construction (02503) announced its annual results for the year ended December 31, 2023. The group reaped benefits, people...
According to the Zhitong Finance App, Zhongshen Construction (02503) announced the results for the year ended December 31, 2023. The group obtained revenue of RMB 1,531 billion (same unit), an increase of 11.09%; the company owner should have accounted for profit of RMB 31.814 million during the year, an increase of 25.62% over the previous year; profit per share was 8.24 points.
According to the announcement, the increase in revenue was mainly due to the COVID-19 outbreak again in parts of China around March 2022, and affected regions (including Shenzhen, where some of the company's construction projects are located) implemented temporary measures from time to time to restrict certain business operations and activities, leading to a decrease in revenue in the first half of 2022. Since then, the Group's operations have gradually returned to normal, so it can generate higher profits in 2023 than in 2022.