Smart Finance APP News, IPE Group (00929) announced its mid-term business performance for 2024, with revenue of approximately 0.502 billion Hong Kong dollars, a year-on-year growth of 19.63%; Shareholders' net profit attributable to the company reached 2.378 million Hong Kong dollars, compared to a loss of 1.249 million Hong Kong dollars in the same period last year; Earnings per share is 0.2 Hong Kong cents.

The hydraulic equipment parts business of the company, after the acquisition, has made a certain contribution to the sales in the first half of this year. Combined with the synergistic effect with the original hydraulic equipment parts business, the sales of hydraulic equipment parts business in the first half of this year are approximately 0.252 billion Hong Kong dollars, compared to 0.18 billion Hong Kong dollars in the same period last year, an increase of 71.634 million Hong Kong dollars. Therefore, the sales of hydraulic equipment parts business have accounted for more than half of the company's total sales this year. In addition to the impact of the acquisition, the original hydraulic equipment parts business of the company has also achieved certain growth, thanks to the team's efforts in various aspects, such as exploring new customers, launching new products, and expanding to different markets.

As for the auto parts business, the time for selling fuel vehicles in the UK and Germany in Europe has been delayed until 2035, which has stimulated the fuel vehicle market and increased sales orders for the auto parts business. The sales of auto parts business in the first half of this year were approximately 0.227 billion Hong Kong dollars, an increase of 9.4% compared to the same period last year.