Ruifeng Power (02025) announced its annual results for the year ended December 31, 2023. The group received revenue...
According to the Zhitong Finance App, Ruifeng Power (02025) announced its annual results for the year ended December 31, 2023. The group obtained revenue of RMB 718 million (same unit), an increase of 19.7%; the profit due to the company's equity shareholders during the year was RMB 11.68 million, a year-on-year decrease of 44.8%; profit per share was 0.014 yuan, and a final dividend of HK1.5 cents per share was proposed.
The decline in profit attributable to the company's equity shareholders is mainly due to a reduction in confirmed government subsidies compared to the year ended December 31, 2022; and a decrease in gross profit, mainly due to the Group's strategic goal of increasing sales share and further obtaining and consolidating low-margin sales orders for cylinder block and cylinder head products from well-known automobile manufacturers in the industry.