Zhitong Financial APP News, Tianbao Group (01979) announced its interim results for the six months ended June 30, 2023. The group earned HK $2.339 billion, down 21.96% from the same period last year. The profit attributable to the owners of the company was HK $137 million, up 2.76% from the same period last year. Earnings per share are HK $0.13, and an interim dividend of HK2.80 cents per share is proposed.
With the continuation of the global energy transformation, the Chinese government's policy support for the new energy industry, and the increased demand for green travel products after the resumption of normal, the new energy business has reached a new high, helping to offset some of the decline in the performance of the power business. During the period, the group's earnings fell 22.0 per cent year-on-year to HK $2.339 billion. However, thanks to the optimization of the business structure, the global capacity layout and the intelligent and digital reforms that continue to efficiently promote production operations, as well as the strong exchange rate of the US dollar against the RMB, the gross profit fell 9.3% year on year to HK $409 million, the gross profit margin rose to 17.5% from 15% in the same period last year, and the profit before tax was HK $161 million. Profit attributable to company owners increased 2.8 per cent year-on-year to HK $137 million.