Gelonghui, March 25, 丨 Huashang Energy (00206.HK) announced that for the year ended December 31, 2023, revenue was about US$181.3 million, up 60.4% from 2022; gross profit was US$40.97 million, up 47.8% from 2022; gross margin fell from 24.5% in 2022 to 22.6% in 2023, down 1.9 percentage points from 2022; profit attributable to company owners in 2023 was approximately US$9.502 million, compared to US$258.79 million in 2022 Decreased by 63.3%.
Gross profit in 2023 increased by 13.3 million US dollars compared to last year. The main reason is that this year's revenue rose sharply compared to last year, and the gross profit amount was higher than last year; however, gross margin decreased from 24.5% in 2022 to 22.6% in 2023. This is mainly due to the fact that the saturated diving support boat rental business with low gross margin accounts for a large share of the Group's total revenue, resulting in a lower gross margin than last year.