Gelonghui, March 27, 丨 Southern Communications (01617.HK) announced that for the year ended December 31, 2023, total revenue decreased by about 17.6% to approximately RMB 520 million. The total profit and comprehensive income due to the owners of the company during the year is approximately RMB 5.2 million (2022: total loss and comprehensive expenses of approximately RMB 8.1 million); the board of directors does not recommend payment of a final dividend for the year ended 31 December 2023 (2022: none).
The Group's gross margin was approximately 13.5%, while the gross margin for the year ended December 31, 2022 was approximately 9.1%. Although the unit price of sales remained generally stable, the cost of raw materials (including non-ferrous metals and some other chemical raw materials) declined significantly and overall production costs were strictly controlled, driving up the Group's gross profit and gross margin during the reporting period.