According to Zhitong Financial App, Luxin Hydrocolloid (01084) announced its interim results for the six months ended June 30, 2023. The group achieved revenue of RMB 583 million (same unit), a year-on-year decrease of 9.51%; profit attributable to company owners was 2,508 million yuan, a year-on-year decrease of 76.05%; profit per share was 0.03 yuan.
The announcement said that the decline in revenue was mainly due to adjustments in client safety stock standards and the economic slowdown in most European countries in the first half of 2023, which led to a decrease in demand from overseas customers.