According to the Zhitong Finance App, Zhixin Group Holdings (02187) announced the results for the year ended December 31, 20223. The group recorded revenue of 513 million yuan, a year-on-year decrease of 19.1%. The company owner should have accounted for a profit of RMB 1.0078 million during the year, an increase of 704.3% over the previous year. Basic earnings per share were $0.013.
The report shows that in fiscal year 2023, revenue from sales of ready-mixed concrete and precast concrete components declined, mainly due to increased market competition. After balancing profit and loss, the Group did not hesitate to give additional price concessions to some customers in order to maintain competitiveness.