Yili Holdings (00076) announced the audited results for the year ended December 31, 2023. The group took...
According to the Zhitong Finance App, Yili Holdings (00076) announced audited results for the year ended December 31, 2023. The group achieved revenue of US$106 million during the period, an increase of 5.48% over the previous year; profit attributable to shareholders was US$1,815 million, an increase of 217.31% over the previous year; and basic profit per share was 0.5 cents.
According to the announcement, in 2023, the Group's graphite business turnover was approximately US$36.8 million, an increase of 34.1% over the previous year's US$27.4 million. 2023 will be a challenging year. In 2022, a number of Chinese manufacturers launched multiple artificial graphite projects aimed at profiting from electric vehicle batteries. The production capacity of artificial graphite exceeds 10 million tons, but the current market demand is less than 2 million tons per year. Overcapacity led to a sharp drop in the price of artificial anode materials in 2023, driving the price of artificial graphite below its production cost. Due to changes in market conditions, orders for smaller, lower-priced graphite sheets increased in 2023, while demand for larger, more expensive graphite sheets decreased. Although production and net profit increased during the year, the weighted average sales price per unit and gross margin of the Group's products were slightly lower than last year.