Gelonghui, August 20, 丨 Yonglianfeng Holdings (09882.HK) announced that the interim results for the six months ended June 30, 2024, were HK$45.999 million, a year-on-year decrease of 40.60%; profit attributable to company owners was HK$9.949 million, a year-on-year decrease of 32.60%; and profit per share.

The company has expanded its capabilities to include manufacturing mechanical parts such as sprockets, track shoes and rollers according to ODM standards, which are commonly purchased by the company's customers when purchasing the company's slewing bearings. The company also procures other mechanical parts for the company's customers.

Furthermore, as a supplier of slewing bearings to leading Japanese suppliers for over 10 years according to OEM standards, the company can directly purchase excavators and other heavy machinery. The company further expanded its range of heavy machinery to other types of machinery, such as pile drivers, wheel unloaders, and trucks.

The decline in revenue from the Association of South Asian Nations (ASEAN) region in the first half of this year was due to local and global economic uncertainty, which led to (i) a decline in local construction activity and a lack of momentum to recover from such sluggish activity, leading to a reduction in the Group's overall revenue; (ii) a slowdown in demand for the company's slewing bearings and mechanical components in global and overseas markets; and (iii) many customers experienced longer sales cycles, as well as delays in the commencement of new construction projects and completion of existing construction projects, including but not limited to projects relating to the third runway at Hong Kong International Airport.