According to the Zhitong Finance App, Lihua Holding Group (01346) announced its 2023 results, with revenue of about US$208.5 million, a year-on-year decrease of 4%; profit attributable to owners of the parent company was approximately US$156.19 million, up 7.59% year on year; earnings per share were 2.45 cents, and a proposed final dividend of 6 HK cents per common share.
According to the announcement, the increase in net profit was mainly due to reduced sales and distribution expenses, stable freight costs, more efficient and cost-effective distribution operations; increased administrative expenses; and reduced financing costs were due to the Group's strong cash situation.