Jinwu Financial News | Zheng Coal Machinery (00564) announced that in the first quarter of 2024, it recorded net profit attributable to shareholders of 1,042 billion yuan (RMB, same below), an increase of 33.08% over the previous year, mainly due to the increase in net profit of the coal machine sector. Basic earnings per share were $0.588.
During the period, consolidated net profit increased by 307 million yuan over the same period last year, or 35.45%. Mainly: 1) Net profit of the coal machine sector increased by 265 million yuan over the same period last year, an increase of 32.31%, mainly due to the higher gross margin of products confirmed as revenue during the reporting period; 2) Net profit of the auto parts segment increased by 42.079 million yuan over the same period of the previous year, an increase of 91.71%. Among them, ASIMCO achieved an overall net profit of 167 million yuan, an increase of 427.163 million yuan over the same period last year, an increase of 34.38%.
During the period, revenue of 9.665 billion yuan was recorded, an increase of 4.93% over the previous year. Total revenue from the coal machine sector increased by 344.17,400 yuan, or 0.72%; total revenue from the auto parts sector increased by 419 million yuan, or 9.48%, over the same period of the previous year. Among them, ASIMCO achieved overall revenue of 1,539 billion yuan, an increase of 28.10% over the same period last year. Mainly, sales in the commercial vehicle and passenger vehicle markets increased year-on-year in the first quarter. ASIMCO closely followed the market, driving overall revenue growth. SEG achieved total revenue of 3.272 billion yuan, which was basically the same as the same period last year.
During the period, investment income increased by RMB 13.1152 million over the same period last year, or 25.33%. Mainly due to the increase in maturing income from wealth management products in the coal machine sector in the first quarter of 2024.