Zhongbao New Materials (02439) announced that the Group expects net profit attributable to the company's equity holders in 2023 to increase from about RMB 56.5 million to no less than RMB 80 million for the year ended December 31, 2022.
The Board believes that this increase is mainly due to the increase in sales revenue of biodegradable rolling bags and biodegradable plastic shopping bags, which led to an increase in gross profit and a decrease in listing expenses.