Luxin Hydrophilic Colloid (01084) announced the results for the year ended December 31, 2023, and the group made profits...
According to the Zhitong Finance App, Lvxin Hydrophilic Colloid (01084) announced results for the year ended December 31, 2023. The group obtained revenue of RMB 1,174 billion (same unit), a year-on-year decrease of 16.79%; losses attributable to the company's owners were RMB 85,327 million, compared with profit of RMB 199 million for the same period last year; loss per share was RMB 0.103.
Gross profit of 37.6 million yuan, gross profit margin of 3.2%, down 90.2% and 24.0 percentage points, respectively, from 384 million yuan and 27.2% in FY2022. The decline in gross profit and gross margin for the year was due to a sharp drop in earnings during the year and provisions for carrageenan product inventory of $142 million.