Gelonghui, March 26, 丨 Xinchen Dynamics (01148.HK) announced that for the year ended December 31, 2023, revenue was approximately RMB 5.341 billion, up 223.2% year on year; profit attributable to company owners was approximately RMB 41.071 million; loss attributable to company owners during the same period last year was approximately RMB 116 million; basic profit per share was RMB 0.032 million.
In 2023, the Group recorded an increase of about 223.20% in total sales compared to 2022, mainly due to increased sales of range extenders produced by the joint venture. Since COVID-19 only affected the first quarter of the reporting year, business gradually resumed from the second quarter. The increase in range extender sales is due to a rebound in demand since the second quarter of this year after the COVID-19 pandemic. Meanwhile, the increase in crankshaft sales is mainly due to increased demand from BMW Brilliance for the Group's Bx8 crankshafts.