Minshi Group (00425) fell by more than 5%. As of press release, it was down 5.23% to HK$1,304, with a turnover of HK$156 million.
The Zhitong Finance App learned that Minshi Group (00425) fell by more than 5%. As of press release, it fell 5.23% to HK$13.04, with a turnover of HK$156 million.
According to the news, Minshi Group announced its 2023 annual results, with a turnover of 20.524 billion yuan (same below), an increase of 18.6% over the previous year. Net profit of 1,903 billion yuan, up 26.8% year on year; profit per share was 1.654 yuan. No final interest will be paid.
According to a report previously published by Dahua Jixian, factors such as the increase in new projects related to electric vehicles, the expansion of its customer base, and the inclusion of more Chinese automakers have all driven steady revenue growth; however, the slowdown in global electric vehicle sales and the intensification of the price war have all dragged down its profit growth.