Zhitong Financial APP News, Meirui Health International (02327) announced results for the first half of 2023, the company's revenue increased by 15.8% year-on-year to about HK $74.8 million, and the profit attributable to shareholders increased by 72% to HK $18.16 million, with a basic profit per share of HK0.44 cents.
The increase in revenue was mainly due to the reopening of mainland China, resulting in an increase of HK $21.4 million in sales of construction materials, and an increase of HK $10.2 million in photovoltaic module sales due to increased orders in China and overseas markets, the announcement said. The increase was partly offset by a decrease of HK $18.6 million in sales of health care-related products.
The increase in profit after tax was mainly due to an increase in gross profit from the trading business of HK $11.4 million; a decrease in fair value loss at fair value to profit and loss of HK $15.8 million; and a decrease in loss attributable to the joint venture of HK $4.8 million. These increases were partly offset by a decrease of HK $17.4 million in gross profit from health care-related business and a decrease of HK $7.7 million in fair value income from investment properties.