According to the Zhitong Finance App, Dacheng Biochemical Technology (00809) announced the results for the year ended December 31, 2023. The group achieved revenue of HK$1,374 billion during the period, a significant increase over the previous year; profit attributable to company owners was HK$4.225 billion, while the company owners should have accounted for losses of HK$1,443 billion in the same period last year; basic profit per share was HK$47.4 cents.

According to the announcement, the poor operating environment in the lysine market had a negative impact on the Group's profitability in the first half of 2023. The Group recorded a gross loss of approximately HK$58.2 million in the first half of 2023 (2022: none). Since the second half of 2023, thanks to lower raw material costs and savings from facility upgrades, the average production cost of amino acids decreased by 15.5% at the end of 2023. Coupled with an 11.2% increase in the average selling price of amino acids, the Group achieved gross profit of HK$102 million in the second half of 2023 (second half of 2022: HK$7.3 million). As a result, the Group obtained a gross profit of approximately HK$43.6 million (2022: HK$7.3 million) in the current year.