On March 27, GLONGHUI | Yichen Industrial (01596.HK) announced that for the year ended December 31, 2023, operating income was approximately RMB 1,196 million, down about 4.9% from 2022; gross profit was approximately RMB 291 million, down about 3.7% from 2022; net profit attributable to owners of the parent company was approximately RMB 49.4 million, down about 69.3% from 2022, and basic and diluted earnings per share were approximately RMB 0.06 million. The Board of Directors recommended a final dividend of RMB 0.010024 per share (tax included).
The Group's main business is R&D, production and sales of railway fastener system products, welding wire products and railway rail pillow products. These businesses bring continuous and stable revenue to the Group. The Group's revenue declined from 2022 to about RMB 1,196 billion in 2023, mainly due to a decrease in revenue from railway fastener system products.