Zitong Financial App News, China Tianbao Group (01427) released its interim results for the six months ended June 30, 2023. The group made a profit of 944 million yuan (the same unit below), down 5% from the same period last year. The profit attributable to the owners of the parent company was 3.1 million yuan, compared with a loss of 43.245 million yuan in the same period last year. Profit per share is 0.004 yuan.
According to the announcement, the total income decreased by 5.0% from about 994 million yuan in the same period in 2022 to about 944 million yuan in the reporting period, mainly because the real estate delivery area during the reporting period decreased compared with the same period in 2022, so the income from real estate development business decreased compared with the same period in 2022.
The Group's gross profit increased from about $78 million in the same period in 2022 to about $90 million in the reporting period. During the reporting period, gross profit margin increased from 7.8% in the same period in 2022 to about 9.6% in the reporting period. The gross profit margin of the real estate development business increased from 11.0% to 19.6% during the reporting period, compared with the same period in 2022. The gross profit margin of the construction contracting business remained stable, and the gross profit margin of the construction contracting business rose from 5.9% in the same period in 2022 to 6.7% in the reporting period.