According to Zhitong Financial App, Yihe Holdings (00838) announced its 2023 interim results, with revenue of about HK$2,862 million, a year-on-year decrease of about 2.6%; net profit of about HK$123 million, up 19.5% year-on-year; profit of 7 HK cents per share, and an interim dividend of HK2.1 cents per share.
The announcement stated that the decrease in revenue was due to unfavorable external market conditions, which led to a decline in the production intensity of customers in the office automation equipment and auto parts business. The increase in profit is mainly due to effective cost control policies, the synergistic benefits brought about by integrating the production capacity of 100 million yuan and intelligent manufacturing in 2021, including reductions in operating costs such as wages, rent, and administrative expenses, as well as verifiable one-time income relating to the calculation of employee compensation expenses of 100 million yuan and intelligent manufacturing, and exchange income from the appreciation of the Mexican peso.