Putian Communications Group (01720) announced its 2023 results. Total revenue decreased by about 4.8% to approximately RMB 6.1...
According to the Zhitong Finance App, Putian Communications Group (01720) announced its 2023 results. Total revenue decreased by about 4.8% to about RMB 615.5 million, gross profit decreased by about 8.0% to about RMB 135 million, gross margin decreased by about 0.8% to about 22.0%, and profit attributable to company owners decreased by about 69% to about RMB 7.648 million, with a profit of 0.007 yuan per share.
According to the announcement, the decrease in revenue was mainly due to a decrease in sales revenue of optical fiber and optical cables by about 44.1% to about 113 million yuan this year.
The decrease in gross margin was mainly due to the fact that the first phase of the Group's optical fiber production line consumed huge construction costs for common areas and facilities, and weakened profitability. Management believes that when the second phase of the optical fiber production line is completed and put into operation, performance may improve as production increases and fixed construction costs are shared.