The Zhitong Finance App learned that Ximei Resources (09936) fell by more than 6%. As of press release, it was down 0.95% to HK$3.13, with a turnover of HK$199,500.
According to the news, Ximei Resources announced its 2023 results. Revenue increased 37.6% to approximately RMB 1,403 billion; gross profit increased 1.5% to approximately RMB 310 million; profit attributable to the company's shareholders decreased by 16.8% to approximately RMB 87.1 million, with a basic profit of 0.24 yuan per share.
According to the announcement, gross margin fell from about 30.0% in 2022 to about 22.1% in the year under review. This decline was mainly due to changes in the structure of products sold by the Group during the year under review, as well as the increase in fixed investment costs in the previous period due to the expansion of production capacity. In addition, during the year under review, the macro market was severe, the price of tantalum and niobium fluctuated rapidly, and the overall market price declined. The Group competed for opportunities, made efforts to increase market share, and flexibly adjusted the business strategies of some products, which led to a narrowing of profit margins.