Fenmei Packaging (00468) announced that it is expected that the Group will obtain for the year ended December 31, 2023...
According to the Zhitong Finance App, Fenmei Packaging (00468) announced that the Group's comprehensive net profit for the year ended December 31, 2023 is estimated to be approximately RMB 230 million to RMB 260 million (2022: RMB 182 million). This figure is still lower than net profit before the COVID-19 pandemic, of which net profit for fiscal year 2019 was RMB 337 million.
The increase in net profit during this period was mainly due to an increase in average selling prices; product restructuring; exchange rate fluctuations; and a reduction in freight costs.