Gelonghui, March 18, 丨 China Aluminum Cans (06898.HK) announced that in its annual results for the year ended December 31, 2023, the Group recorded a total turnover of about HK$236 million, a slight increase of about 11.9% over the same period in 2022. During the reporting period, the Group's net profit was approximately HK$21.9 million, an increase of about 4.9% over the same period in 2022. The net interest rate for the reporting period was approximately 9.3% (2022: approximately 9.9%). Ordinary equity holders in the parent company should have earned HK2.4 cents per share.
The increase in revenue was mainly due to the relaxation of domestic COVID-19 control measures and the improvement in the overall business environment, which led to an increase in sales of aerosol cans. The increase in net profit is mainly due to the net impact of the following: (i) the relaxation of domestic COVID-19 control measures, and the improvement of the overall business environment led to an increase in sales of aerosol cans; (ii) a decrease in raw material production and fixed cost sharing, and an increase in gross margin; and (iii) implementation of strict growth control measures to reduce general indirect costs.