Zhengye Int'l (03363.HK) announced on August 23 that as of June 30, 2024, the group's revenue was approximately RMB 1.162 billion, which was basically flat. The group's gross margin in the first half of 2024 was 14.08% (compared to approximately 11.31% in the same period of 2023), an increase of 2.77% from the same period last year. This was mainly due to a 5.61% decrease in the group's procurement of raw materials compared to the same period last year, while product sales prices increased slightly by 6.89%. During the reporting period, the group adhered to research and development innovation, proposed cost strategy and differentiation strategy. The papermaking division focused on new product development, mainly producing high-margin products. The group continued to complete the transformation of power biomass boilers and further reduce energy costs. While ensuring the original home appliance packaging business, the packaging division of the group vigorously developed the fast-moving consumer goods packaging business. In terms of exquisite packaging business, steady progress was made. In the first half of 2024, the group's shareholders' share of profit amounted to approximately RMB 15.026 million (compared to a loss of approximately RMB 15.583 million in the same period of 2023).