Jingxi International (02339) disclosed the 2023 annual results announcement. The group achieved revenue of 2.709 billion yuan during the reporting period...
According to the Zhitong Finance App, Jingxi International (02339) disclosed the 2023 annual results announcement. The group achieved revenue of HK$2,709 billion during the reporting period, an increase of 9.30% over the previous year. Gross profit of HK$399 million, a year-on-year decrease of 8.15%. The owner of the company should have accounted for a loss of HK$55.32 million, an increase of 1032.45% year-on-year. Loss per share was HK9.63 cents.
During the reporting period, although the Group's earnings increased compared to the same period last year, gross profit declined on the contrary. The Group's revenue rose, mainly from two major plants in Poland and the Czech Republic, while revenue from the UK plant declined. Among them, although the revenue of the Polish plant increased, due to high local inflation, raw materials, employee costs, and energy prices all increased dramatically, so its gross profit and gross margin both recorded a certain decline. The plant in the Czech Republic also saw an increase in revenue, but since its operations were still at a gross loss, the increase in revenue from the plant failed to drive the Group's overall gross profit growth. In contrast, the decline in earnings from the British plant reduced the Group's gross profit.