Summary by Futu AI
Southern Manganese Investment Co., Ltd. (“Southern Manganese Industries”) announces its annual results for the year ended 31 December 2023. The report showed that the company's revenue rose 6.9% year-on-year to HK$17,134.0 million; gross profit decreased 31.9% to HK$934.1 million, and gross profit decreased from 8.6% last year to 5.5%. Company owners' profit fell sharply to HK$64.1 million, down 80.9% from HK$336.1 million last year. The net debt ratio also rose to 121.9% from 90.1% last year. The Board of Directors does not recommend the distribution of any dividends. The financial statements have been reviewed by the Audit Committee and approved by the Board of Directors and will be published in due course on the Exchange and the Company's website.