Zhitong Financial APP News, Jingyuan International (02232) released interim results for the six months ended June 30, 2023, the group achieved income of US $1.009 billion, down 18.72% from the same period last year; profit attributable to company owners was US $73.642 million, down 2.3% from the same period last year; earnings per share were 2.58 cents, and proposed to pay an interim dividend of HK5 cents per share.
The performance of the Group's gross profit margin and net profit margin also improved. Due to the long-term strategic relationship between the company and its brand customers, the Group has been able to foresee a slowdown in its procurement pace and deploy production personnel accordingly to ensure efficient output. In addition, the Group has continued to focus on enhancing automation and streamlining its cost structure in recent years, resulting in further cost control. As a result, the gross profit margin rose to 19.1% from 18.5% in the same period last year. Net profit for the six months ended June 30, 2023 fell 2.6% to $74 million (six months ended June 30, 2022: $76 million), while net interest rate rose to 7.3% from 6.1% in the same period in 2022.