Baoye Group Reports Decreased Mid-Year Profits

Baoye Group Co., Ltd. Class H (HK:2355) has released an update.

Baoye Group Company Limited has released its unaudited interim results for the first half of 2024, revealing a decrease in revenue and profit compared to the same period in 2023. The company’s revenue dropped from approximately 14.3 billion RMB in 2023 to about 12.8 billion RMB in 2024, with net profits also falling from around 724 million RMB to roughly 423 million RMB. Earnings per share have similarly declined from 1.34 RMB to 0.72 RMB.

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