On March 22, GLONGHUI | Zhongcheng Energy (02337.HK) announced that the Group's net profit for the year ended December 31, 2023 is estimated to be no less than RMB 40 million, an increase of no less than 110% year-on-year (2022: approximately RMB 19 million).
The board of directors believes that the increase in net profit is mainly due (including) to the resumption of economic activity in Northeast China after the COVID-19 pandemic in 2023, which increased demand in the petroleum products market, thereby increasing sales of petroleum products.