Huayu Express (01823) announced its 2023 annual results, achieving revenue of 407 million yuan, which is basically the same as the previous year...
According to the Zhitong Finance App, Huayu Express (01823) announced its 2023 annual results, achieving revenue of 407 million yuan, which is basically the same as the previous year. Annual profit of 359 million yuan, an increase of 313.44% over the previous year; the basic profit per share from continuing operations was 1.05 million yuan.
On December 1, 2022, the Group entered into a sales agreement with Xinchuang (Guangdong) Investment Co., Ltd. (“Xinchuang”, a minority shareholder that owns 40% of Hunan Daoyue Expressway Industrial Co., Ltd. (“Daoyue”), a non-wholly-owned subsidiary of the Group with 60% of the shares). According to the sale agreement, the Group agreed to sell all of its shares in Daoyue to Xinchang at a cost of RMB 555,700,000 (subject to adjustment) (the “Sale”). The sale was completed on April 25, 2023. As a result, the Suidake Expressway Division owned and operated by Dogake was classified as having ceased operations.